Global index provider MSCI Inc has lowered Taiwan’s weighting in two of its major indices, but upgraded it in another index after a semi-annual index review earlier this month.
MSCI said in a statement on Friday that it has cut Taiwan’s weighting in the MSCI Emerging Markets Index, which is closely watched by foreign institutional investors, by 0.08 percentage points to 14.12 percent.
It was the 11th consecutive quarter in which MSCI cut the nation’s weighting in the index.
MSCI also lowered Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index from 16.31 percent to 16.16 percent, while raising its weighting in the MSCI All-Country World from 1.68 percent to 1.69 percent.
The adjustments are to take effect after the market close on Nov. 30.
Following the index review, MSCI said it has decided to move intellectual property portfolio owner eMemory Technology Inc (力旺電子), high-speed transmission integrated circuit designer Parade Technologies Ltd (譜瑞科技) and uninterruptible power system solution provider Voltronic Power Technology Corp (旭隼科技) to the MSCI Global Standard Indexes, from the MSCI Global Small Cap Indexes.
Analysts said the inclusion of the firms in the global standard indices reflects their strong showing on the local equity market this year.
EMemory and Parade shares have risen about 81 percent and 14 percent respectively on the local over-the-counter market since the beginning of August.
Voltronic shares have risen 28.7 percent on the local main board during the period.
NAND flash controller designer Phison Electronics Corp (群聯電子), IC packaging and testing services provider Powertech Technology Inc (力成科技), and capacitor and resister supplier Walsin Technology Corp (華新科技) have been moved from the MSCI Global Standard Indexes to the MSCI Global Small Cap Indexes.
MSCI has also added seven other Taiwanese firms, including e-commerce solution provider 91APP Inc and automotive diode supplier Actron Technology Corp (朋程科技), to the Global Small Cap Indexes.
The number of constituencies in the MSCI Taiwan Index remained unchanged at 87, with 18 stocks having their weighting adjusted by the index provider.
EMemory had the largest weighting upgrade with 0.44 percentage points, while contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) saw its weighting fall to 45.01 percent, MSCI said.
MSCI said that India witnessed the largest weighting upgrade in the MSCI Emerging Markets Index with 0.16 percentage points.
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