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A view of Hyundai Motor Company headquarters in Yangjae-dong, Gangnam-gu, Seoul. (Photo = Yonhap News) |
[Alpha Biz= Kim Jisun] Hyundai Motor's Indian subsidiary has been added to the global index of Morgan Stanley Capital International (MSCI), considered one of the most influential stock indices worldwide.
According to industry sources on Wednesday, MSCI, the global stock index provider, added Hyundai Motor India to its global standard index and excluded Indian company Adani Green Energy in its February regular review. A total of 23 stocks were added, while 107 were removed. These changes will take effect after the market closes on the 28th, with the official start date being March 3.
MSCI indices serve as a benchmark for major global investments. Through its quarterly reviews, MSCI adjusts the constituents of the index based on overall market capitalization and float-adjusted market capitalization.
In this review, eight Chinese stocks were added to the global index, while 20 were removed. In November of last year, MSCI had added five Indian companies to its global index, raising India's weight in the emerging markets index to nearly 20%.
In the latest adjustment for the Korean index, 11 companies, including Lotte Chemical, were removed, and no new stocks were added.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
