Financial Stocks Holding Moderate Gains Near Close; MSCI China-A Index Makes Up New ETF

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Financial stocks were ending higher Wednesday with the NYSE Financial Sector Index rising about 0.3% and the S&P Financial 100 Index climbing about 0.6%.

In company news, MSCI Inc. ( MSCI ) shares fell Wednesday, receiving little apparent help from a new exchange-traded fund based on one of the company's index of A-shares traded on the Shanghai or Shenzhen stock exchanges.

KraneShares today launched its China A-Shares ETF ( KBA ) on the New York Stock Exchange, giving ordinary investors their first shot at investing in Chinese A-shares. The two most liquid China ETFs currently available - the iShares Large-Cap ETF ( FXI ) and the iShares MSCI China ETF ( MCHI ) - invest in so-called H-Shares traded on the Hong Kong exchange.

In addition to its global equity indices, MSCI produces real estate indices and other measures of portfolio risk and performance. Its governance division also provides specialized financial research to institutional clients.

MSCI shares were down 1.1% at $45.09 each shortly before the closing bell, or 23 cents off it intra-day low. The stock has a 52-week range of $31.63 to $45.65 a share.

In other sector news,

(+) KKR, Announces final closing of the $2 bln KKR Energy Income and Growth Fund I, which will invest in unconventional oil and gas resources in North America.

(-) BKU, Prices secondary offering of 10.3 mln shares of its common stock previously owned by affiliates of the Blackstone Group ( BX ), the Carlyle Group (CG), WL Ross & Co., and Centerbridge Partners LP at $33.50 apiece.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: MSCI , KBA , FXI , MCHI , BX

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