Millennium Management has shut down two index-rebalancing pods in Asia this month, according to Bloomberg, The Hong Kong-based portfolio managers for both the pods are leaving the firm, it said, citing sources.
The rebalancing of NSE indices will be announced in August, and take effect in September. The process considers the average free float market cap from February 1 to July 31.
The rebalancing of FTSE's All World All Cap and S&P BSE's Bharat 22 indices will happen on March 17 and the changes will come into effect on March 20.
MSCI has revamped its global standard index, and the changes are effective from tomorrow. CNBC-TV18's Nimesh Shah explains the impact this will have on Indian stocks whose weightages will get affected.
The Chinese quarterly gross domestic product, which came in ahead of analysts estimates this morning at 6.9 percent, will put to rest a lot of fears of the economy's health, Shaun Rein of China Market Research.
Regular review and rebalancing allow investors to identify gaps, pin down the under performers and position portfolio in such a way that financial goals can be achieved in the desired time frame or earlier.
In meetings with visiting IMF officials, Chinese leaders emphasized their desire to nurture "more balanced, inclusive" growth, said David Lipton, a deputy IMF managing director.