Effective After Market Close on the 28th
Hyundai Motor's India subsidiary has been newly included in the global index components of Morgan Stanley Capital International (MSCI), considered the most influential stock index worldwide.
According to industry sources on the 12th, MSCI, a global stock index provider, added Hyundai Motor's India subsidiary to the global standard index in its February regular review and removed Indian company Adani Green Energy. Overall, 23 stocks were added and 107 stocks were removed. This adjustment will take effect after the market closes on the 28th. The actual effective date of the index change is March 3.
The MSCI index serves as a benchmark for major global investments. Through quarterly regular reviews, the index components are adjusted based on total market capitalization and free float market capitalization.
In this adjustment, 8 Chinese stocks were added to the global index, while 20 were removed. In the index adjustment last November, MSCI added five Indian companies to the global index, raising India's weight in the emerging markets index to nearly 20%.
Meanwhile, in this revision, 11 companies including Lotte Chemical were removed from the Korean index components. No new stocks were added.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
