Chinese Shares Gain Global Sway Thanks to Index Firm’s Move

SHANGHAI—Index provider MSCI Inc. said it would more than quadruple the contribution of mainland Chinese shares to an influential global benchmark, a move that will make shares in Shanghai and Shenzhen much more important to global investors.

While many asset managers own stakes in Chinese companies listed in Hong Kong or New York, such as Alibaba Group Holding Ltd. or PetroChina Co., global investors have far less exposure to stocks listed on the mainland.

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