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Alibaba, Baidu join MSCI emerging market index

Jack Ma, founder of Alibaba Group Holding Ltd. at the NYSE for the Alibaba Group IPO opening.
Adam Jeffery | CNBC

Alibaba, Baidu and 12 other U.S.-listed Chinese companies will be added to MSCI's $3.5 trillion market-cap emerging markets index, MSCI said Thursday.

MSCI previously excluded the foreign but U.S.-listed companies from its regional indexes.

"Most investors, when they invest in China, (it) is a lot of exposure to banks. … MSCI will increase exposure to tech," said Brendan Ahern, chief investment officer of KraneShares, which offers China-focused ETFs.