Bloomberg/Muhammed AL Muaalemi

Markets

MSCI adds Saudi stocks to emerging-market index

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Thirty securities from Saudi Arabia are set to join the MSCI’s emerging-market stocks benchmarks and all changes will be implemented as of the close of trading on 28 May.

Tuesday 14, May 2019 BY KUDAKWASHE MUZORIWA

MSCI has announced that it will include the MSCI Saudi Arabia index in its closely watched and widely duplicated emerging-markets index, in a move that is expected to draw billions of dollars of investor inflows.

In a statement, MSCI said that Saudi Arabia will account for 1.42 per cent of the MSCI emerging markets index, a second and final batch of Saudi stocks will be published in August.

Additionally, eight Argentine securities are also set to join the MSCI’s emerging-market stocks benchmarks.

The MSCI is also boosting the number of so-called China A shares, stocks that historically were available only to Chinese investors, on its emerging-market index.

However, Kuwait stocks, which had been on the firm’s watch list for a potential upgrade, weren’t included.

 

TAGS : MSCI EM Index, Tadawul, Kuwait stocks, Boursa Kuwait

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