|Bid||201.80 x 30000|
|Ask||202.75 x 30000|
|Day's range||201.45 - 201.45|
|52-week range||122.37 - 202.85|
|Beta (3Y monthly)||0.79|
|PE ratio (TTM)||35.59|
|Forward dividend & yield||2.05 (1.16%)|
|1y target est||N/A|
The biggest stock market in the Arab world, which will begin to be included in the emerging-markets group by index compiler MSCI Inc. next month, is trading at the most expensive level compared with the category since 2015. The ratio of estimated price-to-earnings in the next 12 months for the main Saudi gauge is 16 times, against 12 for the MSCI Emerging Markets Index. The $568 billion stock market has been attracting foreigners as they position for the inclusions by MSCI, over two tranches, and by FTSE Russell, which is already underway.
Despite a 9 percent increase to $502 billion in assets under management for Asia equity exchange-traded funds so far this year, net inflows have been tapering off, according to data compiled by Citigroup Inc. On top of that, a monthly net outflow -- the second time in more than two years -- was recorded in March. The MSCI Asia Pacific Index’s 11 percent rally this year -- adding about $4 trillion in value -- has already been attracting some skepticism.
The MSCI Asia Pacific Index snapped a two-day slide Friday, on track to wrap up an 8.7 percent rally for the quarter and recovering a big chunk of the losses sustained at the end of 2018. China, with the Shanghai Composite Index surging the most among global equity benchmarks. This week has been a particularly eventful one for the Asia regional benchmark, its most volatile since the second week of January, according to data compiled by Bloomberg.
The South Asian nation, which got promoted from a frontier nation in June 2017, has erased about $44 billion of equity value since then. The MSCI usually requires at least three stocks to remain above that level for a country to maintain the emerging-market status.
Global investors could soon have an easier way to make bets on or against China’s stock market, with Hong Kong’s exchange planning to offer futures trading tied to mainland shares. Hong Kong Exchanges and Clearing Ltd. said Monday it had signed a deal with MSCI Inc. to launch futures linked to the index provider’s MSCI China A Index, which will include 421 onshore Chinese stocks by November. The index contracts will be listed and traded in Hong Kong and settled in cash.
Refinitiv is taking trading-platform operator Tradeweb Markets Inc. public. Tradeweb said in its Securities and Exchange Commission filing that it expects to raise $100 million in proceeds from the offering, but that figure is often used as a placeholder to calculate filing fees. It didn?t give a range for its initial public offering or say how many shares it expected to sell.
, who has served as CFO and treasurer at MSCI, resigned from both positions and will leave the company on March 15, the company said. Ms. Winters has served as CFO since May 2016. Before that, she held the role of vice president and chief financial officer of Honeywell International Inc.’s performance materials and technologies unit from 2012 to 2016.
Inc. removed a Shenzhen-listed company from its China indexes and cut the weighting of a large home-appliance maker, as international holdings of both got close to breaching national foreign-ownership limits. The New York-based index company said it would oust Han’s Laser Technology Industry Group Co. from its China indexes after Friday’s close. On Tuesday, China barred foreigners from buying more shares in Han’s Laser, as their holdings neared its 30% ceiling.
China’s once-isolated stock markets are becoming more relevant to international investors. In the latest shift, MSCI Inc. has given mainland shares more sway in some of its widely tracked indexes. It and other benchmark providers are hugely influential.
SHANGHAI—Index provider MSCI Inc. said it would more than quadruple the contribution of mainland Chinese shares to an influential global benchmark, a move that will make shares in Shanghai and Shenzhen much more important to global investors. While many asset managers own stakes in Chinese companies listed in Hong Kong or New York, such as Alibaba Group Holding Ltd. or PetroChina Co., global investors have far less exposure to stocks listed on the mainland. The decision is likely to pull tens of billions of dollars into China.
It’s no surprise: In just two months, the country’s stock market has done a 180. Late Thursday in New York, MSCI said it will increase the weighting of A shares in its China indexes and related benchmarks by raising the so-called inclusion factor – the ratio of mainland stocks' market cap that's included in the index – to 20 percent from 5 percent. As a result, China’s stock market can expect another $60 billion of buying, estimates Goldman Sachs Group Inc.