China stocks edged up only slightly on Wednesday as investors gave a lukewarm reception to a move by index provider MSCI to add some mainland shares to one of its key benchmarks, with traders saying a “Yes” decision had already been priced in.
But Hong Kong stocks were hit by the news, amid concerns that an increasingly open, and internationally recognized China market threaten to weaken the city’s role as a proxy destination for China-bound investment.
China’s blue-chip CSI300 index rose 0.5 per cent to 3,564.62 points by the lunch break, while the Shanghai Composite Index gained 0.2 per cent to 3,144.71.
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