（雙語(yǔ)新聞）為免與A股競(jìng)爭(zhēng) 韓國(guó)欲晉級(jí)MSCI發(fā)達(dá)市場(chǎng)

青島希尼爾翻譯公司（www.marshallsfreshproduce.com）整理發(fā)布2016-05-18

希尼爾翻譯公司（www.marshallsfreshproduce.com）2016年5月18日了解到：An impending decision on whether or not China’s $6.1tn onshore equity markets should start to be included in the flagship emerging market index is starting to reverberate around the region.

MSCI明晟即將決定是否應(yīng)開始把中國(guó)規(guī)模達(dá)6.1萬(wàn)億美元的A股市場(chǎng)納入其旗艦新興市場(chǎng)指數(shù)。這件事已開始在整個(gè)地區(qū)產(chǎn)生反響。

South Korea and Taiwan are stepping up their efforts to be promoted from the MSCI EM index to its developed world equivalent. And in the case of Seoul, at least, the fear of an exodus of foreign capital in the wake of China’s admittance appears to be a driving factor.

韓國(guó)和臺(tái)灣正加緊努力，爭(zhēng)取從MSCI新興市場(chǎng)指數(shù)(MSCI EM index)晉級(jí)到其發(fā)達(dá)市場(chǎng)指數(shù)。至少就韓國(guó)而言，這么做的一項(xiàng)可能原因是，擔(dān)心A股被納入MSCI新興市場(chǎng)指數(shù)后外國(guó)資本會(huì)撤出韓國(guó)。

At present China, through the Hong Kong market and the American depositary receipts of US-listed companies such as Alibaba, accounts for 24 per cent of the MSCI EM index, with South Korea and Taiwan the next largest constituents, at 16 per cent and 12 per cent respectively.

目前，中國(guó)股票（指在香港上市的中國(guó)公司股票以及阿里巴巴(Alibaba)等在美上市中國(guó)公司的美國(guó)存托憑證）在MSCI新興市場(chǎng)指數(shù)中權(quán)重為24%，韓國(guó)和臺(tái)灣緊隨其后，分別為16%和12%。

However, if China’s Shanghai and Shenzhen-based A-shares market was included, China’s weight, based on current market capitalisations, would jump to about 40 per cent, pushing South Korea and Taiwan down to 12.9 per cent and 9.7 per cent respectively.

但如果上海和深圳的A股市場(chǎng)被納入到該指數(shù)中，基于當(dāng)前的市值，中國(guó)的權(quán)重將飆升至40%左右，韓國(guó)和臺(tái)灣的權(quán)重將分別降至12.9%和9.7%。

Given that the index is currently tracked by $1.5tn of assets, according to MSCI, if investors did not increase their EM allocation in the wake of China’s inclusion, this could lead to outflows of $46bn from the Seoul market and $35bn from Taiwan.

據(jù)MSCI稱，目前有1.5萬(wàn)億美元資產(chǎn)追蹤該指數(shù)，如果投資者不在A股被納入后增配新興市場(chǎng)，將導(dǎo)致460億美元資金流出韓國(guó)股市、350億美元流出臺(tái)灣股市。

This would not happen overnight. MSCI is due to rule on whether or not to start adding China’s A-shares to its EM index next month. Even if the answer is positive, as many observers predict, there will be a 12-month delay and even then Shanghai and Shenzhen stocks will only be drip-fed into the index, starting with just 5 per cent of their full weight.

情況不會(huì)一夜之間就變成這樣。MSCI定于下月就是否開始將A股納入其新興市場(chǎng)指數(shù)做出決定。即便如很多觀察人士預(yù)言的那樣決定納入，也要等到12個(gè)月后才會(huì)納入，而且屆時(shí)只會(huì)一點(diǎn)一點(diǎn)地納入，一開始納入的將僅為A股全部體量的5%。

Nevertheless, the seemingly inevitable entry of the juggernaut of China’s onshore markets into the index is already making others nervous.

盡管如此，A股這個(gè)龐然大物被納入該指數(shù)似乎是不可避免。這一前景已令其他人感到擔(dān)憂。

The Korea Times reported last month that the Korean government “believes joining the [developed market] World Index will avoid competition with China in the same group”.

上月《韓國(guó)時(shí)報(bào)》(Korea Times)報(bào)道稱，韓國(guó)政府“認(rèn)為加入世界指數(shù)（MSCI追蹤發(fā)達(dá)市場(chǎng)的指數(shù)）可避免與中國(guó)同組競(jìng)爭(zhēng)”。

South Korea is already ranked as a developed country by FTSE and S&P, two rival index providers but, as Arthur Kwong, head of Asia Pacific equities at BNP Paribas Investment Partners, points out, “the focus is always on MSCI. That is the market that can move liquidity.”

韓國(guó)已被另兩家指數(shù)供應(yīng)商富時(shí)(FTSE)和標(biāo)準(zhǔn)普爾(S&P)列為發(fā)達(dá)國(guó)家，但正如法國(guó)巴黎銀行(BNP Paribas)亞太股市主管鄺樂天(Arthur Kwong)所言：“焦點(diǎn)永遠(yuǎn)是MSCI。這是一個(gè)能驅(qū)動(dòng)流動(dòng)性的市場(chǎng)?！?/span>”來源:可可英語(yǔ)