Global index provider MSCI Inc yesterday cut Taiwan’s weighting in two indices, but raised the weighting in another after a semi-annual review, Taiwan Stock Exchange data showed.
MSCI lowered Taiwan’s weighting in the MSCI Emerging Markets Index, which is closely watched by foreign institutional investors, by 0.11 percentage points to 15.56 percent, the exchange said.
That revised weighting is still higher than a range of 11.46 percent to 14.21 percent over the past three years, it said.
Photo: CNA
MSCI also lowered Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index to 17.9 percent from 18.01 percent, while the company raised Taiwan’s weighting in the MSCI All-Country World from 1.7 percent to 1.71 percent, the data showed.
The adjustments are to take effect on June 1.
Following the review, MSCI added four Taiwanese companies to its MSCI Global Standard Indexes and removed three, it said in a statement on its Web site.
China Airlines Ltd (中華航空), EVA Airways Corp (長榮航空) and power cable manufacturer Walsin Lihwa Corp (華新麗華) were added to the global standard indices, a promotion from the MSCI Small Cap Indexes, the data showed.
Powerchip Semiconductor Manufacturing Corp (力積電) was also added to the Global Standard Index, the data showed.
The company’s weighting in the index was raised by 0.42 percent, the most among the four companies, the Liberty Times (the Taipei Times’ sister newspaper) reported.
Meanwhile, Foxconn Technology Co (鴻準精密), a subsidiary of Hon Hai Precision Industry Co (鴻海精密), Hiwin Technologies Co (上銀科技) and Oneness Biotech Co (合一生技) were deleted from the global standard index, the data showed.
They were downgraded into the small-cap index, with Hiwin Technologies’ weighting lowered by 0.19 percent, the most among the three companies.
MSCI also added several companies to its small-cap index, including Evergreen Steel Co (長榮鋼鐵), Allied Supreme Corp (上品綜合工業), Etron Technology Inc (鈺創科技), Genesys Logic Inc (創惟科技), Great Tree Pharmacy Co (大樹醫藥) and Lian Hwa Foods Corp (聯華食品), the data showed.
The benchmark TAIEX yesterday rose 1.38 percent to 15,832.54 points, with turnover of NT$225.045 billion (US$7.55 million), exchange data showed.
The adjustments in the MSCI indices do not necessarily correlate to changes in local stocks or indicate the flow of foreign funds, the exchange said.
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