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LG Household and Health Care will join MSCI’s index of global equities, which are tracked by global funds, while Doosan will be out, the index provider announced in Geneva on Thursday.
The changes will be implemented as of the close of May 31, 2016.
The news lifted shares in LG Household 0.86 percent higher to 1,050,000 won ($896) apiece on the Seoul bourse on Friday, against the broader KOSPI‘s 0.53 percent decline. Doosan tanked 6.54 percent to 97,200 won per share.
MSCI reviews its indices four times a year. Its next review is in August.
LG Household, the cosmetic arm of LG Group, reported a 30.9 percent jump in operating profits in the first quarter of this year on a sharp increase in cosmetics sales.
Doosan is the holding company of Doosan Group, a construction and infrastructure business-focused conglomerate which has been dumping assets as part of its two-year plan to improve finances.
By Lee Sun-young (milaya@heraldcorp.com)
The changes will be implemented as of the close of May 31, 2016.
The news lifted shares in LG Household 0.86 percent higher to 1,050,000 won ($896) apiece on the Seoul bourse on Friday, against the broader KOSPI‘s 0.53 percent decline. Doosan tanked 6.54 percent to 97,200 won per share.
MSCI reviews its indices four times a year. Its next review is in August.
LG Household, the cosmetic arm of LG Group, reported a 30.9 percent jump in operating profits in the first quarter of this year on a sharp increase in cosmetics sales.
Doosan is the holding company of Doosan Group, a construction and infrastructure business-focused conglomerate which has been dumping assets as part of its two-year plan to improve finances.
By Lee Sun-young (milaya@heraldcorp.com)
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Articles by Korea Herald
