Global index provider MSCI Inc yesterday cut Taiwan’s weighting in two of its major indices, but raised it in a third index after a quarterly index review.
The firm lowered Taiwan’s weighting in the MSCI Emerging Markets Index, which is closely watched by foreign institutional investors, by 0.03 percentage points to 15.07 percent.
It also lowered Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index by 0.06 percentage points to 17.22 percent, but it raised Taiwan’s weighting in the MSCI All-Country World Index by 0.01 percentage points to 1.61 percent.
Photo: I-Hwa Cheng, Bloomberg
India had the largest hike of 0.39 percentage points in its weighting in the MSCI Emerging Markets Index, while China’s and Thailand’s weightings were cut the most, by 0.16 percentage points and 0.05 percentage points respectively, in the index, MSCI said.
MSCI added application specific integrated circuit (ASIC) designer Alchip Technologies Ltd (世芯) into its MSCI Global Standard Indexes, reflecting the stock’s recent gains, with ASICs having been widely used in artificial intelligence-related devices.
At the same time, MSCI removed bicycle maker Giant Manufacturing Co (巨大) from the MSCI Global Standard Indexes, after the stock was sent into a tailspin amid weaker global demand because of inventory adjustments.
In conjunction with those moves, MSCI removed Alchip from the MSCI Global Small Cap Indexes, but added Giant to the index after the review.
In addition to Giant, MSCI added seven other Taiwanese stocks to the MSCI Global Small Cap Indexes, including server chassis maker AIC Inc (營邦), UPS system provider Cyber Power Systems Inc (碩天) and printed circuit board producer Dynamic Holding Co (定穎).
The others were JSL Construction & Development Co (愛山林), photonics automation solution supplier MPI Corp (旺矽), gasoline station operator North-Star International Co (北基) and IC designer Silicon Integrated Systems Corp (矽統).
After the latest adjustments, there were still 90 companies in the MSCI Taiwan Index, it said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co’s (台積電) weighting was cut by 0.2 percentage points to 42.02 percent in the Taiwan index, the steepest reduction among the 90 constituents, MSCI said.
The adjustments are to take effect after the market closes on Nov. 30, it added.
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