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Krafton not invited to MSCI’s emerging market index this time
By Jie Ye-eunPublished : Aug. 12, 2021 - 16:36
Morgan Stanley Capital International announced Thursday that it has added three South Korean stocks -- SK ie technology, SK Bioscience and EcoPro BM -- to its global and regional equity index via August’s quarterly review.
The US-based finance firm also removed KMW, the South Korean wireless communications devices producer, from the list. The changes will take effect after the market closes on Aug. 31, according to the company.
The rebalancing result was based on the listed firms’ market capitalization and their free-float market valuation. As a result, the regional equity index’s constituents of large- and mid-cap stocks rose to 105 from 103.
Krafton, the South Korean gaming giant behind the global smash hit PlayerUnknown’s Battlegrounds, failed to make an early entry onto the global index provider’s emerging market index this time, while the announcement of KakaoBank joining the club on Aug. 20 came a week ago.
“Krafton is expected to join the MSCI index through the upcoming rebalancing either on Aug. 25 or Sept. 1,” said Kim Soo-yeon, an analyst at Hanwha Investment & Securities. “The company’s weighting on the emerging index is highly likely to get greater.”
SK Telecom’s weighting on the MSCI’s regional equity index is also set to be reduced by 25 percent on the back of a rising portion of foreign ownership due to its previous treasury stock disposal.
“(Among the newly joining listed-stocks) SK ie technology is forecast to be a stock with the largest demand for passive buying over daily trading amount. The sizable proportion is expected to log 106.1 percent,” Shinhan Investment analyst Noh Dong-kil said.
Upon the mixed fate of the listed stocks’ entries and exclusion, their share prices appeared to be at a crossroads.
Shares of SK ie technology closed at 217,500 won ($187.29), up 7.41 percent from the previous session’s close. EcoPro BM’s stock also advanced 2.25 percent to 318,200 won, at the closing bell.
KMW traded at 1.55 percent lower to 50,700 won, while SK Bioscience took a breather from a recent rally, falling 4.83 percent to close at 285,500 won.
The US-based finance firm also removed KMW, the South Korean wireless communications devices producer, from the list. The changes will take effect after the market closes on Aug. 31, according to the company.
The rebalancing result was based on the listed firms’ market capitalization and their free-float market valuation. As a result, the regional equity index’s constituents of large- and mid-cap stocks rose to 105 from 103.
Krafton, the South Korean gaming giant behind the global smash hit PlayerUnknown’s Battlegrounds, failed to make an early entry onto the global index provider’s emerging market index this time, while the announcement of KakaoBank joining the club on Aug. 20 came a week ago.
“Krafton is expected to join the MSCI index through the upcoming rebalancing either on Aug. 25 or Sept. 1,” said Kim Soo-yeon, an analyst at Hanwha Investment & Securities. “The company’s weighting on the emerging index is highly likely to get greater.”
SK Telecom’s weighting on the MSCI’s regional equity index is also set to be reduced by 25 percent on the back of a rising portion of foreign ownership due to its previous treasury stock disposal.
“(Among the newly joining listed-stocks) SK ie technology is forecast to be a stock with the largest demand for passive buying over daily trading amount. The sizable proportion is expected to log 106.1 percent,” Shinhan Investment analyst Noh Dong-kil said.
Upon the mixed fate of the listed stocks’ entries and exclusion, their share prices appeared to be at a crossroads.
Shares of SK ie technology closed at 217,500 won ($187.29), up 7.41 percent from the previous session’s close. EcoPro BM’s stock also advanced 2.25 percent to 318,200 won, at the closing bell.
KMW traded at 1.55 percent lower to 50,700 won, while SK Bioscience took a breather from a recent rally, falling 4.83 percent to close at 285,500 won.
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