Global index provider MSCI Inc has raised Taiwan’s weighting in one of its major indices, but left the country’s weighting in two others unchanged.
MSCI yesterday said in a statement that following a quarterly review, it increased Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index by 0.03 percentage points to 15.79 percent, while maintaining its weighting in the MSCI Emerging Markets Index and the MSCI All-Country World Index at 13.97 percent and 1.62 percent respectively.
As for the MSCI Emerging Markets Index, which is closely watched by foreign institutional investors, China was subject to the largest weighting upgrade of 0.09 percentage points, followed by Thailand’s 0.05 percentage point upgrade, the index provider said.
In the MSCI Taiwan Index, the number of constituents remained at 88, while the provider changed the weighting of 21 firms.
Walsin Lihwa Corp (華新麗華), a leading wire and cable maker, was subject to the largest upgrade of 0.01 percentage points to 0.43 percent, while China Development Financial Holding Co’s (中華開發金控) weighting was cut by 0.01 percentage points, the steepest reduction, to 0.69 percent.
No Taiwanese stocks were added to or removed from the MSCI Global Standard Indexes after the quarterly adjustments.
Before the MSCI statement, market watchers had high hopes that Global Unichip Corp (創意), an application-specific IC designer owned by contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電), would be included in the MSCI Global Standard Indexes, pushing the stock higher in the past few trading sessions.
Unichip shares fell 1.09 percent after the announcement to close at NT$910.00 on the Taiwan Stock Exchange yesterday, while the TAIEX closed down 0.08 percent at 15,586.65.
MSCI added 10 Taiwanese stocks to the MSCI Global Small Cap Indexes and removed no stocks from them.
The 10 stocks added are yacht maker Alexander Marine Co (東哥), dumpling brand Bafang Yunji International Co (八方雲集), steel supplier Gloria Material Technology Corp (榮鋼), nylon air textured yarn provider Jinan Acetate Chemical Co (濟南大自然新材料) and machinery producer Kaori Heat Treatment Co (高力), IC patent portfolio owner M31 Technology Corp (円星科技), solar energy developer Shinfox Energy Co (森威能源), medical equipment supplier Synmosa Biopharma Corp (健喬信元醫藥生技), contact lens brand Visco Vision Inc (視陽) and wireless communications device maker Vivotek Inc (晶睿).
After the statement, M31 shares traded as high as NT$644.00, but fell 4.49 percent to close at NT$595.00 on profit-taking on the over-the-counter market, for which the index closed down 0.95 percent at 200.42.
The adjustments are to take effect after markets close on Feb. 24, MSCI said.
MSCI index reviews are conducted in February, May, August and November each year.
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