UPDATE: MSCI Shuffles Asian Stocks In May 2010 Index Review
May 11 2010 - 7:23PM
Dow Jones News
Index provider MSCI Inc. (MXB) said Tuesday it will include
Bangladesh stocks in its frontier markets measure and will create a
stand-alone country index for Bosnia-Herzegovina as part of the
firm's semiannual index review.
MSCI also announced the addition of 42 securities and the
deletion of 45 across its global standard indexes. Included in the
reshuffling is the addition of Indonesia's Gudang Garam (GGRM.JK),
China's Lee & Man Paper Manufacturing Ltd. (2314.HK), and
India's Rural Electrification Corp. Ltd. (532955.BY) to the widely
tracked MSCI Emerging Markets Index.
The firm made no mention of South Korea and Taiwan, both of
which are on the waiting list for potential upgrades from
emerging-market indexes to so-called developed-world indexes. In a
review last June, MSCI decided to keep both countries in the
emerging markets mix citing, among other things, challenges in
currency convertibility, which pose difficulties for international
investors.
Israel, however, was reclassified to developed markets status
last year and, as such, Teva Pharmaceutical Industries Ltd. (TEVA,
TEVA.TV) is now set to join the MSCI World Index.
The changes, which take effect May 27, have implications for
funds that are benchmarked against MSCI's indexes as they will have
to purchase the newly added securities and offload the ones that
were removed.
After giving more weight to Chinese equities in their last index
review in November, MSCI added 105 stocks to and removed four from
the MSCI China A Index. Among the largest additions are Haitong
Securities Co. Ltd. (600837.SH) and Xinjiang Goldwind Science &
Technology Co. Ltd. (002202.SZ).
-By Kejal Vyas, Dow Jones Newswires; 212 416 2185;
kejal.vyas@dowjones.com
Msci Class A Common Stock (NYSE:MXB)
Historical Stock Chart
From May 2024 to Jun 2024
Msci Class A Common Stock (NYSE:MXB)
Historical Stock Chart
From Jun 2023 to Jun 2024