China exchanges make gains in drive for inclusion in MSCI global indexes

China’s drive to have its mainland stock exchanges included in MSCI’s global indexes is gaining traction, with Templeton Emerging Markets Group’s Mark Mobius, a former detractor who oversees roughly US$40 billion in emerging markets, saying his funds are buying yuan-denominated shares, Bloomberg reported. “Every time MSCI came around, I said ‘Forget it. We can’t invest,’” Mobius said. “Now we can, and I have no objection.” He was among five out of nine global investors interviewed who said Chinese stocks should be included in the index following their rejection last year. MSCI will announce on June 9 whether it has changed its mind.