MSCI Inc, a global index provider, has trimmed Taiwan’s weighting in two major indices, while leaving another unchanged in its latest quarterly review.
In a statement on Friday, MSCI said it cut Taiwan’s share in the closely watched MSCI Emerging Markets Index to 19.40 percent from 19.45 percent, and in the MSCI All-Country Asia ex-Japan Index to 21.89 percent from 21.97 percent.
The review, conducted each February, May, August and November, guides global investors in portfolio allocation. All changes, calculated in US dollars, would take effect after markets close on Aug. 26, MSCI said.
Photo: CNA
Among emerging markets, India saw the largest reduction in the Emerging Markets Index, down 0.07 percent, while China recorded the biggest gain, up 0.15 points. Changes for other markets were minimal.
MSCI said it would add aesthetics medicine and inflammatory disease drug developer Caliway Biopharmaceuticals Co (康霈生技) and server rail maker King Slide Works Co (川湖科技) to its Global Standard Indexes, while removing footwear supplier Pou Chen Corp (寶成工業) and property developer Ruentex Development Co (潤泰創新).
Market analysts said the changes reflected fluctuations in the affected stocks’ share prices.
In its Global Small Cap Index, MSCI would remove Caliway and King Slide, while adding Pou Chen and Ruentex.
It would also add pneumatic and thermal process solution provider AblePrint Technology Co (印能科技), printed circuit board maker First Hi-tec Enterprise Co (高技企業), Fulltech Fiber Glass Corp (富喬工業), water recycling services provider Mega Union Technology Inc (兆聯實業) and zipper maker Wiselink Co (智通科創) into the Global Small Cap Index.
In addition to Caliway and King Slide, MSCI said it would drop Chung Hwa Pulp Corp (中華紙漿) and Huang Hsiang Construction Corp (皇翔建設) from the Global Small Cap Index.
Following the review, the MSCI Taiwan Index remained at 87 constituents. King Slide saw the largest weighting increase, up 0.25 percentage points to 0.25 percent, while Pou Chen recorded the biggest drop, down 0.12 points to zero, MSCI said.
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MORE WEIGHT: The national weighting was raised in one index while holding steady in two others, while several companies rose or fell in prominence MSCI Inc, a global index provider, has raised Taiwan’s weighting in one of its major indices and left the country’s weighting unchanged in two other indices after a regular index review. In a statement released on Thursday, MSCI said it has upgraded Taiwan’s weighting in the MSCI All-Country World Index by 0.02 percentage points to 2.25 percent, while maintaining the weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, at 20.46 percent. Additionally, the index provider has left Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index unchanged at 23.15 percent. The latest index adjustments are to
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