Brazil and China continue to gain clout in the world economy after the most commonly used benchmark for emerging-market stocks increased the weighting of companies in those nations, reports The Wall Street Journal.
The newspaper says that MSCI Inc's MSCI Global Standard Indices reported in its latest semiannual review that it will add 11 Brazilian companies to its MSCI Emerging Markets index at the end of the month, making Brazil the top gainer in the 22-country list. China was the second-highest gainer, with MSCI adding seven securities issued by companies in China and deleting one.
According to the Journal, Brazilian companies added to the list include BR Malls Participacoes SA, Gafisa SA, Gol Linhas Aereas Inteligentes SA, Hypermarcas SA, LLX Logistica SA, Localiza Rent a Car SA, Lojas Renner, Multiplan Empreendimentos Imobiliarios SA, PDG Realty, Rossi Residencial SA, and Tam SA.
Out of China, the Journal says additions include Anta Sports Products Ltd., BBMG Corp., Golden Eagle Retail Group, Greentown China Holdings, Poly (Hong Kong) Investment Ltd. and Xinao Gas Holdings Ltd. Guangshen Railway was taken off the list.