HONG KONG (June 20): China’s fourth attempt at cracking into MSCI Inc.’s benchmark share indexes comes with its best chance of success -- and the least at stake.

In what’s become an annual event, MSCI will announce early Wednesday morning Hong Kong time whether China’s domestic stocks have won inclusion. Previous efforts have foundered on concern over repatriation limits and excessive trading suspensions, obstacles the index compiler has sought to overcome with a less ambitious proposal.

While the decision still holds weight for investors, the swings of the nation’s US$6.8 trillion ($9.4 trillion) equity market are losing relevance for traders in London and New York more attuned to a global technology rally and signals from the Federal Reserve. Even if yuan-denominated shares are added, they would be dwarfed by overseas-listed Chinese stocks, which have an increasing sway over MSCI’s developing nation gauge.

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