Breaking News


Asos Jumps After MSCI Review; Mengniu Advances on HSI Update

Asos Plc (ASC) jumped after MSCI Inc. said it will add the stock to its global gauge for developed shares, while Nomura Real Estate Office Fund Inc. (8959) fell after it was removed. China Mengniu Dairy Co. surged after Hang Seng Indexes Co. said it would include it in the benchmark Hong Kong measure.

Asos climbed 6.6 percent to 6,697 pence at 10:50 a.m. in London, while Nomura Real Estate Office fell 2.8 percent to 417,000 yen at the close of trading in Tokyo, the lowest price since August. MSCI will also add Seiko Epson Corp. (6724), Royal Mail Plc (RMG) and Canada’s Inter Pipeline Ltd. to the MSCI World Index after the close on Feb. 28, the index compiler said in a statement. Mengniu jumped 3.8 percent to HK$39.40. The stock will be added to the Hang Seng Index effective March 10, the compiler said in a statement yesterday.

MSCI indexes track about $7.5 trillion in assets, according to the company. The global equity gauge slipped 1.5 percent this year amid concern about the Federal Reserve’s stimulus cuts, an economic slowdown in China and volatility in developing markets. Green Mountain Coffee Roasters Inc. led gains with a 59 percent surge, while Best Buy Co.’s 38 percent slump was the biggest among the measure’s 1,610 members.

Seiko Epson advanced 0.5 percent to a five-year high. China Coal Energy Co., the nation’s second-largest producer of the fuel, slid 3.9 percent after Hang Seng Indexes said it would cut the company from the city’s benchmark gauge.

BYD Co., the automaker backed by Warren Buffett’s Berkshire Hathaway Inc., will be added to the Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong. Zoomlion Heavy Industry Science & Technology Co. will be removed. BYD rallied 6 percent, while Zoomlion tumbled 4.6 percent.

China Cinda Asset Management Co. and CSPC Pharmaceutical Group Ltd. (1093) will be added to MSCI’s China gauge, the index compiler said. Cinda rose 3.2 percent. CSPC slipped 1.7 percent.

Lupin Ltd. (LPC) fell 1.4 percent and Zee Entertainment Enterprises Ltd. lost 0.1 percent. MSCI said it will cut them from its India measure.

To contact the reporter on this story: Sarah McDonald in Sydney at

To contact the editor responsible for this story: Sarah McDonald at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.