- Victory Giant Technology Looks to Raise Over $2 Billion in Hong Kong Offering
Apr 13, 2026
The Shenzhen-listed company plans to tap the Hong Kong market for fresh funds to expand its production in China.
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- China expands digital yuan programme with 12 new bank operators
Apr 2, 2026
BEIJING, April 2 (Reuters) - China's central bank has expanded its digital yuan programme by adding a dozen additional banks as operators, confirming a Reuters report last month.
The 12 new banks allowed to handle the digital yuan include China CITIC Bank, China Everbright Bank, China Guangfa Bank, Shanghai Pudong Development Bank, among others, the People's Bank of China (PBOC) said in a statement.
The move aims to "enhance the inclusiveness of digital yuan services" and meet the public demand for "safe, convenient and efficient" payment options, the bank said.
Thursday's announcement takes the total number of authorised banks to handle the digital yuan to 22.
Beijing's push to put the digital yuan into the real economy has been slow so far since its launch in 2019, with most retail customers already able to make safe and low-cost transactions via platforms such as Alibaba's Alipay and Tencent Holdings' WeChat Pay.
The strategy comes alongside China's intensifying crackdown on virtual currencies and a ban on stablecoins that highlights the contrast to the U.S., where President Donald Trump has promoted cryptocurrencies and banned a digital dollar.
"The central bank will continue to expand the number of operating institutions in an orderly manner in accordance with market-oriented and rule-of-law principles," the PBOC said, adding that it seeks to build an "open, inclusive and fair competitive environment" for the digital currency's development.
(Reporting by Ethan Wang and Ryan Woo, Editing by William Maclean and Arun Koyyur)
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- Visa Enables Apple Pay Support for Chinese Visa Cardholders
Jan 22, 2026
Visa Inc. (NYSE:V) is one of the 15 Best S&P 500 Stocks to Look For in 2026.
On January 15, Visa Inc. (NYSE:V) announced that it has enabled Apple Pay support for Chinese Visa cardholders. Eligible customers from the partnering Chinese banks will be allowed to add their Visa cards to Apple Pay and make payments at global merchants that offer Visa payment services. This will cover in-store contactless transactions, in-app purchases, and online purchases.
The banks that will be offering Apple Pay to their users include Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China Merchants Bank, China CITIC Bank, Ping An Bank, and Industrial Bank. Visa is also working with some other banks to add to its Apple Pay network, such as Shanghai Pudong Development Bank, China Construction Bank, China Minsheng Bank, and China Everbright Bank. Visa Mainland China general manager Yin Xiaolong said:Visa Enables Apple Pay Support for Chinese Visa Cardholders
JMiks / Shutterstock.com
As global digital payments develop rapidly, consumers increasingly expect mobile payment solutions that are smartphone-based and interoperable. Upholding our long‑standing commitment to the Chinese market and to our cardholders, Visa is increasing its investments in data and payment security, launching tokenisation services, and taking the lead in enabling their use in cross‑border scenarios.
Visa is focused on its strategy to expand digital payments for Chinese consumers, with transactions secured via Apple Pay authentication methods.
Visa Inc. (NYSE:V) is one of the leading payment technology companies with global operations. The company offers debit, credit, and prepaid cards to consumers. Visa operates VisaNet, a transaction-processing network that enables the authorization, clearing, and settlement of payment transactions.
While we acknowledge the potential of V as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best New Penny Stocks to Invest In and 13 Best Gold Mining Companies to Invest In Now.
Disclosure: None. This article is originally published at Insider Monkey.
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- Mercuria Successfully Closes USD 2.3 Billion Equivalent Asian Revolving Credit Facilities
Nov 24, 2025
SINGAPORE, Nov. 24, 2025 /PRNewswire/ -- Mercuria Energy Group Ltd. ("Mercuria") is pleased to announce the successful closing of its 2025 Asian Syndicated Revolving Credit Facilities (the "Facilities"), totaling over USD 2.3 billion equivalent across USD and CNH tranches.Mercuria Logo (PRNewsfoto/Mercuria Energy)
This year's refinancing represents a 35% increase in committed liquidity compared to 2024, adding more than USD 600 million in additional capacity. The outcome underscores the continued confidence of global and regional lenders in Mercuria's financial strength, disciplined liquidity management, and the Group's expanding footprint across Asia.
The Facilities were arranged with the support of the following Bookrunning Mandated Lead Arrangers: Abu Dhabi Commercial Bank PJSC, Bank of China Limited Singapore Branch, China CITIC Bank Corporation Limited London Branch, China CITIC Bank Corporation Limited Shanghai Branch, China CITIC Bank International Limited Singapore Branch, China Merchants Bank Co. Ltd. Singapore Branch, CMB Wing Lung Bank Limited, DBS Bank Ltd., Industrial and Commercial Bank of China Limited London Branch, Mizuho Bank Ltd., MUFG Bank Ltd., Oversea-Chinese Banking Corporation Limited, Sumitomo Mitsui Banking Corporation Singapore Branch, The Export-Import Bank of China Fujian Branch.
SMBC acted as Facility Agent.
The Facilities comprise:
USD 1,193 million – 1-year USD Revolving Credit Facility (Facility A1) CNH 3,683 million – 1-year CNH Revolving Credit Facility (Facility A2) USD 283 million – 1-year USD Revolving Credit and Swingline Facility (Facility B) USD 315 million – 3-year USD Revolving Credit Facility (Facility C)
The transaction attracted strong demand from 41 banks, including several new lenders. Chinese institutions again played a leading role, particularly through the CNH tranche, reflecting Mercuria's deepening relationships across the region and the Group's long-standing strategic presence in Asia.
"We are pleased to have closed the 2025 Asian RCF with a significant upsizing and an expanded group of banking partners. The strong participation from our long-standing lenders across Asia, together with the arrival of several new institutions and the solid support from Chinese banks, reflects the confidence in Mercuria's financial strength, disciplined liquidity management and growth ambitions in the region. This facility further enhances our ability to support our customers and continue developing our activities across Asia," said Guillaume Vermersch, Group CFO, Mercuria.
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Mercuria continues to strengthen its activities across China, Japan, Southeast Asia and Australasia, with Asia serving as a central pillar of the Group's global strategy.Cision
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- Global Dividend Stocks: 3 Top Picks For Your Portfolio
Oct 16, 2025
Amid heightened geopolitical tensions and economic uncertainties, global markets have experienced notable fluctuations, with U.S. stock indexes declining due to renewed trade tensions and concerns over a prolonged government shutdown. As investors seek stability in this volatile environment, dividend stocks can offer a reliable income stream and potential for growth, making them an attractive option for those looking to balance risk while capitalizing on market opportunities.
Top 10 Dividend Stocks Globally
Name Dividend Yield Dividend Rating Wuliangye YibinLtd (SZSE:000858) 5.16% ★★★★★★ Tsubakimoto Chain (TSE:6371) 3.77% ★★★★★★ Scandinavian Tobacco Group (CPSE:STG) 9.79% ★★★★★★ SAN Holdings (TSE:9628) 3.95% ★★★★★★ NCD (TSE:4783) 4.39% ★★★★★★ GakkyushaLtd (TSE:9769) 4.48% ★★★★★★ Daicel (TSE:4202) 4.47% ★★★★★★ China South Publishing & Media Group (SHSE:601098) 4.46% ★★★★★★ Changjiang Publishing & MediaLtd (SHSE:600757) 4.81% ★★★★★★ Binggrae (KOSE:A005180) 4.45% ★★★★★★
Click here to see the full list of 1377 stocks from our Top Global Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
China CITIC Bank
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: China CITIC Bank Corporation Limited offers a range of banking products and services both in the People’s Republic of China and internationally, with a market cap of CN¥441.09 billion.
Operations: China CITIC Bank's revenue is primarily derived from its Corporate Banking segment at CN¥82.48 billion, followed by Retail Banking at CN¥45.13 billion and Financial Markets Business at CN¥28.75 billion.
Dividend Yield: 4.4%
China CITIC Bank's recent proposal to increase its interim dividend to RMB 1.88 per 10 shares highlights its commitment to returning value to shareholders. Despite a short dividend history of less than ten years, the bank maintains a stable payout with a low payout ratio of 30.4%, ensuring dividends are well-covered by earnings. With its dividend yield ranking in the top 25% of the Chinese market, it presents an appealing option for income-focused investors.
Take a closer look at China CITIC Bank's potential here in our dividend report. Our expertly prepared valuation report China CITIC Bank implies its share price may be too high.SHSE:601998 Dividend History as at Oct 2025
Sunrex Technology
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Sunrex Technology Corporation manufactures and sells laptop computer keyboards globally, with a market cap of NT$8.05 billion.
Operations: Sunrex Technology Corporation generates revenue primarily from its operations in Taiwan (NT$12.50 billion), the Central Region of Mainland China (NT$18.98 billion), and the Southern Region of Mainland China (NT$1.21 billion).
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Dividend Yield: 9.2%
Sunrex Technology's dividend yield ranks in the top 25% of the Taiwanese market, offering a notable 9.25%. Despite this attractive yield, its dividend history is marked by volatility with annual drops over 20% in the past decade. However, current dividends are covered by both earnings and cash flows with payout ratios of 67.6% and 51%, respectively. Recent earnings reports show declining sales and net income, which may impact future dividend stability.
Navigate through the intricacies of Sunrex Technology with our comprehensive dividend report here. Our valuation report here indicates Sunrex Technology may be undervalued.TWSE:2387 Dividend History as at Oct 2025
Evergreen International Storage & Transport
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Evergreen International Storage & Transport Corporation, along with its subsidiaries, offers inland container transport and container terminal operations across Taiwan, America, and internationally with a market cap of NT$31.48 billion.
Operations: Evergreen International Storage & Transport Corporation's revenue is primarily derived from cargo shipment (NT$15.56 billion), international sea transportation (NT$2.47 billion), inland transport (NT$1.88 billion), container yard operations (NT$958.30 million), and gas stations (NT$410.73 million).
Dividend Yield: 4.4%
Evergreen International Storage & Transport offers a stable dividend yield of 4.38%, supported by a low payout ratio of 44.5% and consistent earnings growth, with profits rising 31.7% over the past year. The company's dividends have been reliably growing and stable over the last decade, though its yield is below Taiwan's top quartile of dividend payers. Recent events include a stock split on September 25, 2025, which may influence investor perception and liquidity positively.
Delve into the full analysis dividend report here for a deeper understanding of Evergreen International Storage & Transport. According our valuation report, there's an indication that Evergreen International Storage & Transport's share price might be on the expensive side.TWSE:2607 Dividend History as at Oct 2025
Taking Advantage
Click this link to deep-dive into the 1377 companies within our Top Global Dividend Stocks screener. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.
Looking For Alternative Opportunities?
Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include SHSE:601998 TWSE:2387 and TWSE:2607.
This article was originally published by Simply Wall St.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Is China CITIC Bank (SEHK:998) Undervalued? A Fresh Look at Its Valuation After Recent Share Dip
Oct 9, 2025
China CITIC Bank (SEHK:998) shares have been in focus after a recent dip of 0.6% in the latest trading session, following declines over the past month. Investors are re-examining the bank's performance within a shifting market landscape.
See our latest analysis for China CITIC Bank.
The past year has seen China CITIC Bank’s momentum build, with the share price up 25.71% year-to-date and the total shareholder return reaching an impressive 41.1% over twelve months. This suggests that recent dips may reflect shifting sentiment rather than a reversal of long-term strength.
If the changing dynamics in banking have you considering new investment ideas, now is a great time to broaden your search and discover fast growing stocks with high insider ownership.
With shares still trading below analyst targets and strong annual gains to date, the key question for investors is whether China CITIC Bank remains undervalued or if the market has already accounted for its future growth potential.
Price-to-Earnings of 5.2x: Is it justified?
China CITIC Bank’s shares are currently trading at a price-to-earnings ratio of 5.2x, noticeably lower than both its banking peers and industry averages. This suggests the stock is undervalued at HK$6.6 compared to sector benchmarks.
The price-to-earnings (P/E) ratio helps determine if a company’s share price accurately reflects its earnings power. This is an essential yardstick in the banking sector where profit consistency and growth are crucial. A lower P/E can suggest undervaluation, but it may also reflect modest growth expectations.
For China CITIC Bank, the current P/E ratio not only trails the peer group average of 9.5x but is also below the Hong Kong Banks industry average of 5.5x. Additionally, the stock trades beneath the fair P/E ratio estimate of 6.3x, indicating that the market may not be fully pricing in the bank's earnings potential. The fair ratio is a level the market could move towards if investor confidence in future earnings strengthens.
Explore the SWS fair ratio for China CITIC Bank
Result: Price-to-Earnings of 5.2x (UNDERVALUED)
However, ongoing market volatility and any slowdown in annual revenue or net income growth could pose challenges to the optimistic outlook for China CITIC Bank’s shares.
Find out about the key risks to this China CITIC Bank narrative.
Another View: Discounted Cash Flow Model
To challenge the earnings ratio approach, we can look at valuation from a different angle using the SWS DCF model. According to this method, China CITIC Bank is trading at a 60.8% discount to our estimated fair value of HK$16.84. This raises the question: are investors missing a deeper value story, or is the market correctly skeptical about future growth?
繼續閱讀
Look into how the SWS DCF model arrives at its fair value.998 Discounted Cash Flow as at Oct 2025
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out China CITIC Bank for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.
Build Your Own China CITIC Bank Narrative
If you want to dig into the numbers for yourself or have a different perspective, you can shape your own story in just a few minutes. So why not Do it your way?
A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding China CITIC Bank.
Looking for more investment ideas?
Don’t sit on the sidelines while others spot big opportunities. Use the Simply Wall Street Screener to unlock new stocks that match your investing ambitions.
Generate reliable income with these 19 dividend stocks with yields > 3% and see which companies offer robust dividend yields above 3%. Catalyze your portfolio’s potential by tapping into these 25 AI penny stocks, filled with pioneering AI stocks gaining market momentum. Position yourself ahead of the crowd by targeting value with these 888 undervalued stocks based on cash flows based on cash flow fundamentals.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include 0998.HK.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Nam Tai Property Closes on RMB 600 Million Refinancing of Inno Park with China CITIC Bank
Aug 11, 2025
New Loan Features Significantly Improved Terms, Including a 4.3% Interest Rate, 15-Year Duration and Reduced Payments in the First 3 Years
SHENZHEN, China, August 11, 2025--(BUSINESS WIRE)--Nam Tai Property Inc. (OTC Expert Market: NTPIF) ("Nam Tai Property" or the "Company") today announced the successful closing of the RMB 600 million refinancing (the "New Loan") for its Inno Park property ("Inno Park"), the Company’s stabilized business park located in the Guangming District of Shenzhen, with China CITIC Bank Corporation Limited ("CITIC Bank").
The New Loan replaces the existing loan (the "Original Loan") with Bank of China, which was set to mature in November 2028 and carried an outstanding balance of RMB 405 million as of July 21, 2025 (the "Repayment Date"). The New Loan matures in July 2040 and carries a blended all-in interest rate of approximately 4.3% per year.1 Additionally, the repayment schedule requires principal payments of RMB 12 million within one year and RMB 54 million within three years from the full drawdown date. The New Loan provides for improved terms compared to the Original Loan, which carried an interest rate of 5.022% per year and a repayment schedule requiring RMB 93 million within one year and RMB 316 million within three years.
The New Loan immediately unlocks approximately RMB 195 million in available liquidity while substantially reducing the Company’s near-term repayment burden. The Company expects savings of approximately RMB 73 million in principal and interest over the next year and approximately RMB 225 million over the next three years. Excess proceeds are expected to be used to further accelerate the completion of the Nam Tai Tech Center and unlock value at Inno Valley.
Bo Hu, Chief Executive Officer and board member, commented:
"The refinancing for Inno Park represents a significant milestone for Nam Tai. Our ability to secure a RMB 600 million facility with improved terms from a major institution reflects the work our team has done to stabilize and strengthen the Company’s financial position. In addition to optimizing our capital structure and providing us with more flexibility and savings, the New Loan will position us to execute on our broader operational plans and maximize the value of our core stabilized asset, Inno Park."
Additional information can be found in the Company’s Form 6-K filed with the U.S. Securities and Exchange Commission.
Forward Looking Statements
The Company may from time to time make written or oral "forward-looking statements", including statements contained in this release and in the Company’s filings with the U.S. Securities and Exchange Commission (the "SEC"). These forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company’s control. These factors include risks related to its currently contemplated strategy, competition, timing, increases in costs of materials, capital and financing needs, access to funding under the Company’s debt instruments and the timing thereof, the Company’s ability to refinance certain debt, its ability to sell certain assets, construction/development challenges or setbacks, its ability to hire and retain construction contractors and subcontractors, the Company’s ability to obtain materials and supplies necessary for construction of various projects, any unforeseen issues relating to construction, including environmental, weather, catastrophes, or other issues, the Company’s ability to add additional guaranteed power to certain of its projects, projected regional development, composition of potential tenants of development projects, development of asset light capabilities for internal or external use and monetization, judicial and regulatory challenges and/or delays, changes in economic policy, including in relation to trade and/or tariffs, anticipated savings or uses of funding from refinancings, changes in general economic conditions and other factors detailed from time to time in the Company’s filings with the SEC. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company, except as may be required by applicable law or regulations.
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About Nam Tai Property
Nam Tai Property Inc., a Company incorporated in the British Virgin Islands (the "BVI") and governed by BVI law, owns certain subsidiaries, which own and operate commercial real estate projects across the People’s Republic of China. Those subsidiaries currently maintain two industrial complex projects, with one in Guangming, Shenzhen and one in Bao’an, Shenzhen. Learn more about the Company, and the portfolio of properties held by certain of its subsidiaries by emailing our investor relations team or visiting Weibo: https://weibo.com/u/7755634761.
___________________________ 1 Based on the 5-year LPR published by the People’s Bank of China on June 20, 2025.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250811450482/en/
Contacts
Longacre Square Partners LLC
Ashley Areopagita
ntp@longacresquare.com
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- MSCI Equity Indexes August 2025 Index Review
Aug 7, 2025
LONDON, August 07, 2025--(BUSINESS WIRE)--MSCI Inc. announced the results of the August 2025 Index Review for the MSCI Equity Indexes. All changes will be implemented as of the close of August 26, 2025.
Highlights include:
MSCI Global Standard Indexes: Forty-two securities will be added to and 56 securities will be deleted from the MSCI ACWI Index. The three largest additions to the MSCI World Index measured by full company market capitalization will be Rocket Lab Corp (USA), SoFi Technologies (USA) and Affirm Holdings A (USA). The three largest additions to the MSCI Emerging Markets Index measured by full company market capitalization will be China CITIC Bank A (HK-C) (China), Dian Swastatika Sentosa (Indonesia) and Laopu Gold H (China).
MSCI Global Small Cap Indexes: There will be 194 additions to and 107 deletions from the MSCI ACWI Small Cap Index.
MSCI Global Investable Market Indexes: There will be 176 additions to and 103 deletions from the MSCI ACWI Investable Market Index (IMI).
MSCI Global All Cap Indexes: There will be 120 additions to and 60 deletions from the MSCI World All Cap Index.
MSCI Frontier Markets Indexes: There will be nine additions to and four deletions from the MSCI Frontier Markets Index. The three largest additions to the MSCI Frontier Markets Index measured by full company market capitalization will be FPT Corp (Vietnam), Asyad Shipping Company (Oman) and Société Générale de Banques en Côte d'Ivoire (Ivory Coast). There will be 28 additions to and 11 deletions from the MSCI Frontier Markets Small Cap Index.
In light of currently observed market accessibility issues, MSCI will continue to not implement changes as part of this Index Review for any securities classified in Bangladesh for the MSCI Bangladesh Indexes or impacted composite indexes.
These changes, along with other changes across MSCI Equity Indexes including the MSCI US Equity Indexes, MSCI US REIT Index, MSCI China A Onshore Indexes and China All Shares Indexes are available on MSCI's "Index Review" web page: www.msci.com/index-review.
-Ends-
About MSCI
MSCI Inc. (NYSE: MSCI) strengthens global markets by connecting participants across the financial ecosystem with a common language. Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can make better decisions and unlock innovation. We serve asset managers and owners, private-market sponsors and investors, hedge funds, wealth managers, banks, insurers and corporates. To learn more, please visit www.msci.com.
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- MSCI announces changes to equity indexes
Aug 7, 2025
By Rodrigo Campos
NEW YORK (Reuters) -MSCI said on Thursday it will add 42 securities and delete 56 from its widely followed ACWI equity index.
The three largest companies by market capitalization to be added to the developed markets index are Rocket Lab, SoFi Technologies and Affirm Holdings, all headquartered in the United States.
The three largest companies to be added to the emerging markets index are China Citic Bank, Dian Swastatika Sentosa and Laopu Gold.
All changes will be made as of the close of August 26, MSCI said.
Nearly $17 trillion in assets were benchmarked to MSCI indexes at the end of 2024, according to its website. As of last June, there were $2 trillion in equity ETFs linked to its indexes.
As of July 31, the largest country weights in the emerging markets index were China with 29.2%, Taiwan with 19.5%, India with 16.9% and South Korea with 11%.
(Reporting by Rodrigo Campos in New York; Editing by Leslie Adler and Jamie Freed)
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- Exclusive-Abrdn to launch China asset management venture with Citic unit, sources say
Feb 21, 2025
By Selena Li
HONG KONG (Reuters) - Abrdn is in advanced talks with Citic Bank to launch an asset management joint venture in China, two people with knowledge of the matter said, as the British firm looks to bolster its presence in the world's second-largest economy.
The discussions follow a warming in British-Sino relations and contrast with decisions by several Western financial institutions in recent years to either cut China jobs or shelve their expansion plans on concerns about the health of the Chinese economy and tensions between Beijing and Washington.
Abrdn, the UK's second-largest independent asset manager, expects to hold a majority stake in the venture with the rest owned by Citic Bank's unit Citic Wealth, said the people who declined to be identified as the talks are confidential.
Citic Wealth is China's third-largest bank-owned wealth management unit with 2 trillion yuan ($275 billion) in assets as of the end of last of year.
Abrdn declined to comment. Citic Bank, the main banking arm of China's central government-owned conglomerate Citic Group, did not respond to a Reuters request for comment.
Abrdn and Citic Bank have been in talks for the last couple of years about either setting up a venture in mainland China or abrdn taking a stake in Citic Wealth, said the sources.
The discussions gained fresh impetus after the revival of high-level economic and financial talks between China and the UK last month after having been frozen for nearly six years, they added.
($1 = 7.2724 Chinese yuan )
(Reporting by Selena Li; Editing by Sumeet Chatterjee and Edwina Gibbs)
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