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January 1st - According to China Railway Shanghai Bureau Group Co., Ltd., the Yangtze River Delta Railway is expected to transport 3.7 million passengers on New Years Day, setting a new record for passenger volume on New Years Day and marking the peak travel day for the Yangtze River Delta Railway during the 2026 New Years Day holiday.1. South Koreas KOSPI Index: Annual gain of 75.63%. SK Hynix and Samsung Electronics recorded epic gains as demand for HBM (high-bandwidth memory) is expected to surge in 2025. 2. Israels TA-35 Index: Annual gain of 51.63%. The Israeli economy is gradually recovering from the impact of geopolitical conflicts. A ceasefire agreement with Hamas, the Bank of Israels first interest rate cut in nearly two years, and government fiscal policies to reduce the deficit are all factors driving investor confidence in the local stock market. 3. ChiNext Index: Annual gain of 49.57%, marking its best annual performance since 2020; the Shanghai Composite Index achieved eleven consecutive days of gains, closing up 18.41% for the year, while the Shenzhen Component Index closed up 29.87%, also its best annual performance since 2020; technology stocks led the year, with trading volume reaching a record high. 4. Spains IBEX 35 Index: Up 49.27% year-to-date, breaking the 17,000-point mark, with five listed companies exceeding €100 billion in market capitalization for the first time. The Spanish stock markets rise was primarily driven by record-high profits in the tourism services trade and banking sector. 5. Vietnams VN Index: Up 40.87% year-to-date, with the VN30 index up 50.94%. The main drivers were Vietnams economic growth and investor expectations. FTSE Russell announced in October that it would upgrade Vietnams market from a frontier market to a secondary emerging market, potentially bringing up to $6 billion in foreign investment to Vietnam. 6. South Africas FTSE JSE All Share Index: Up 37.74% year-to-date, making it the strongest performing market on the African continent in 2025, primarily driven by the mining sector. South Africa is the worlds largest producer of platinum group metals, and the stock markets resources index more than doubled, driven by record gold and platinum group metal prices. 7. Brazils IBOVESPA Index: Annual increase of 33.95%, driven by the global resource demand cycle, with rising iron ore and oil prices contributing to the robust performance of the Brazilian stock market. 8. Mexicos IPC Index: Annual increase of 29.88%. Since the beginning of the year, the Mexican central bank has significantly cut interest rates by 300 basis points, helping to boost investor confidence in Mexican assets by reducing trade-related uncertainty. Simultaneously, rising commodity prices have also boosted the stock market, particularly for mining and materials companies. 9. Italys FTSE MIB Index: Annual increase of 31.47%, its best annual performance since 1998, and the second-largest performing index in the European market; primarily driven by growth in the financial, telecommunications, and oil and gas sectors. 10. Hang Seng Index: Annual increase of 27.77%, with Hong Kongs IPO scale returning to the top ranks globally in 2025 (such as CATL and Zijin Mining listing in Hong Kong), greatly boosting market confidence. Tencents share buybacks exceeding HK$70 billion this year have acted as a stabilizing force for the index. In addition, Hua Hong Semiconductor and innovative drug sectors saw significant growth in the second half of the year, becoming dark horses in the sector. 11. Nikkei 225 Index: Annual increase of 26.18%. Although the Bank of Japan raised interest rates in December, the overall financial environment remained loose. Global funds continued to diversify their investments from US stocks to undervalued Japanese blue-chip stocks. 12. Taiwan Weighted Index: Annual increase of 24.62%. Boosted by AI demand, TSMCs stock price repeatedly hit new highs, and the overall performance of the Taiwan stock market was outstanding. 13. German DAX Index: Annual increase of approximately 23%. With German fiscal reforms exempting defense spending from the "debt brake," defense stocks such as Rheinmetall saw remarkable gains this year, becoming the strongest growth engine for the index. 14. UK FTSE 100 Index: Annual increase of 21.51%. Resources and mining were one of the main driving forces, especially performing well against the backdrop of commodity price recovery. Banking and defense sectors also contributed significantly to the years rotation. 15. Nasdaq Composite Index: Annual gain of 20.36%. With the explosive growth of AI agents and enterprise-level AI applications, Nvidia, leveraging the dominance of its Blackwell architecture chips, maintained its position as the worlds largest market capitalization, becoming the indexs "stabilizing force." 16. Euro Stoxx 50 Index: Annual gain of 18.39%, while the Stoxx 600 Index rose by approximately 17%. The defense index repeatedly hit new highs, achieving its largest annual gain since 1996, driven by European countries commitment to increase defense spending.According to the Yomiuri Shimbun, Japan Post is considering merging nearly 20% (more than 500 locations) of its approximately 3,000 mail and logistics distribution centers nationwide by fiscal year 2028.January 1st - Leapmotor (09863.HK) reported that it will deliver 596,555 vehicles in 2025, a year-on-year increase of 103%; in December, Leapmotor delivered 60,423 vehicles, a year-on-year increase of 42%.Xiaomi Auto: By December 2025, Xiaomi Autos deliveries will exceed 50,000 units.

MSCI Delays Weighting Adjustments For Two Adani Companies

Skylar Williams

Feb 16, 2023 10:50

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Index provider MSCI announced on Wednesday that it will delay the introduction of updated weightings for Adani Total Gas and Adani Transmission until the May benchmark review.


MSCI stated that the reversal of the modifications to Adani Total Gas and Adani Transmission in the February index review would be reflected in the MSCI Index Product files beginning on February 16.


Starting in February, MSCI will also apply a special treatment to all Adani Group-affiliated equities included in its Equity Indexes.


Adani did not react promptly to a comment request given outside of usual Indian business hours.


MSCI announced last week that it would reduce the weightings of four Adani Group firms, including Adani Enterprises, in its indexes after reevaluating the amount of freely traded shares.


The new index weightings were scheduled to take effect on March 1, however, the proposed modifications to Adani Total Gas and Adani Transmission have been deferred until May.


MSCI stated that "possible replicability concerns" motivated the decision. Its methodology requires indexes to be replicated "in a cost-effective manner in a real portfolio."


MSCI did not immediately respond to a request for comment from Reuters regarding why the changes were reversed quickly after their announcement last week.


Changes to the weightings of Adani Enterprises and ACC, a large Indian cement firm that the Adani Group purchased from Holcim (SIX:HOLN) last year, are still scheduled to occur.


MSCI investigated the level of free floats after concluding that there was "sufficient uncertainty" regarding certain Adani investors.


MSCI's decision followed a report published on January 24 by U.S. short seller Hindenburg Research, which accused the Indian giant of inappropriate use of offshore tax havens and stock manipulation. The organization has denied all wrongdoing.


The Hindenburg report has put Adani, led by billionaire Gautam Adani, into trouble, reducing the value of the group's companies by almost $120 billion.


According to a document seen by Reuters, Adani and two of its principal subsidiaries involved in a short-selling tempest in recent weeks will arrange calls with bond investors on February 16 and February 21.