Hong Kong Stock Jumps 63% in Final Minutes Before MSCI Inclusion
- Lifestyle International shares added about $1.5 billion
- Hong Kong exchange hasn’t received erroneous trade report
How Morgan Stanley Is Preparing for China's MSCI Inclusion
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Shares of a department store owner soared by a record in the final minutes of Hong Kong trading on Thursday, the day before it was added to an MSCI Inc. index.
The spike turned Lifestyle International Holdings Ltd.’s 3 percent gain into a 63 percent gain in a matter of seconds. It closed up 43 percent, adding about $1.5 billion in value as index changes spurred one of the busiest trading days of the year in Hong Kong. The stock was added to the MSCI Hong Kong Small Cap Index after the close. Eudice Law, an external representative for Lifestyle International, said the company had no comment on its share-price movement.