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Huarong Faces Ouster from MSCI Indexes after Failing to Release 2020 Results

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Huarong Faces Ouster from MSCI Indexes after Failing to Release 2020 Results

Yesterday marked the 50th day since Huarong shares were stopped in Hong Kong for failure by the bad-debt manager to release 2020 results, according to Yahoo finance.

  • According to MSCI Inc rules, companies are always dropped from the MSCI index within three days after reaching the 50 gays deadline.
  • The stock would be suspended until the company files its 2020 report with the city’s stock exchange.
  • The decision to eliminate Huarong from MSCI would impact exchange-traded funds with more than $210 billion of assets.
  • The delayed 2020 results have helped kick off concerns about the financial health of the company.
  • The last two months has seen the development of worries concerning a potential restructuring and how much state support could be forthcoming.

The company started to dispose of seven units with about 700 billion yuan of combined assets.

2799:HK is down 1.92%.

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