Meitu stock falls after MSCI exclusion

HONG KONG: Shares of Meitu Inc fell as much as 10 per cent yesterday after index provider MSCI reversed its decision to include the Chinese selfie app maker in the MSCI China Index, without giving a reason. MSCI said in a statement on its website Meitu would not be added to its indexes. On Tuesday,

MSCI had said it would add Meitu to its China index from June 1 as part of its quarterly review. “We did not contact MSCI and have no comment on its internal decision and action,” said Meitu in a statement.