Investing.com - U.S. index provider MSCI on Wednesday declined to add Chinese stocks to its key emerging market index.
MSCI said China needs to open its markets further to foreign investors.
Inclusion in the index could attract up to $400 billion into Chinese stocks over the next decade.
The index firm did not indicate when it might include Chinese shares in the index.
Shanghai shrugged off the news as the composite index added 1.6%.