(Jun 15 Reuters) China's stock market rose the most in two weeks on Wednesday, reversing from early losses as investors shrugged off MSCI's decision not to add mainland shares to one of its key benchmark indexes.
Traders said investors had already been bracing for a "no" decision, as reflected by Monday's market tumble of more than 3 percent, with some bargaining hunting in the process.
The blue-chip CSI300 index rose 1.3 percent to 3,116.37 while the Shanghai Composite Index gained 1.6 percent to 2,887.21 points.
They had opened roughly 1 percent lower as some investors who had clung on to hopes of MSCI inclusion unwound their bets.
Index provider MSCI Inc said on Tuesday that Beijing had more work to do in liberalising its capital market before it could add Chinese A shares to its emerging markets index, which is tracked by $1.5 trillion of managed assets.
With the MSCI decision now in the rear mirror, investors are focusing again on China's struggling economy and the potential fallout for global growth and financial markets if Britain votes to leave the European Union next week. Europe is one of China's biggest export market.
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Reporting by Samuel Shen and Elias Glenn; Editing by Jacqueline Wong)