When Chinese stocks won admission to MSCI’s indices last week, Australia was not the first market many people looked to — but it is arguably one of the most affected. That is because in the broader Asia-Pacific region, where investors typically put Tokyo in a category all of its own, wins for Shanghai and Shenzhen will come at the expense of Sydney — already the region’s worst performer this year.
當MSCI上周決定把中國A股納入其指數時，澳大利亞并非許多人最先關注的市場——但可以說它是受影響最大的市場之一。這是因為，在投資者通常將東京作為一個單獨類別的廣大亞太地區，上海和深圳之所得，將是悉尼之所失——后者已是今年該地區表現最差的市場。
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