MSCI raises Taiwan's weighting in 3 major indexes

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MSCI Inc., a global index provider, has raised Taiwan's weighting in three of its major indexes after a regular index review.

Taipei, Nov. 12 (CNA) MSCI Inc., a global index provider, has raised Taiwan's weighting in three of its major indexes after a regular index review.

In a statement released overnight, MSCI said it has upgraded Taiwan's weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, from 28.86 percent to 29.01 percent.

The index provider has also raised Taiwan's weighting in the MSCI All-Country World Index from 3.25 percent to 3.28 percent and hiked the weighting in the MSCI All-Country Asia ex-Japan Index from 32.72 percent to 32.83 percent.

It was the third consecutive quarter in which MSCI has raised Taiwan's weighting in the three indexes simultaneously as analysts attributed the upgrade to the recent strong showing made by Taiwan's tech-heavy stock market during the current global AI era.

Before Thursday, the Taiex, the Taiwan Stock Exchange's benchmark index, had soared more than 50 percent since the beginning of this year.

In the MSCI Emerging Markets Index, India received the largest weighting upgrade of 0.17 percentage points, while China suffered the steepest downgrade of 0.13 percentage points, according to the index provider.

In the MSCI Global Standard Indexes, MSCI added three Taiwanese stocks: IC substrate maker Kinsus Interconnect Technology Corp., Nan Ya Printed Circuit Board Corp. and copper-clad laminate supplier Taiwan Union Technology Corp.

The three stocks have been removed from the MSCI Global Small Cap Indexes, MSCI said.

MSCI had decided to include the three companies into the MSCI Global Standard Indexes in the August index review but the trio's high-flying share prices led the TWSE to list them as "disposition stocks," which faced trading restrictions, so the inclusion has been postponed until the November index review.

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