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MSCI upgrades Pakistan and adds 57 securities, removes 28 from world index

Reuters 

By Dion Rabouin

(Reuters) - provider on Monday announced changes to its indexes as a result of its semiannual market reclassification, including reclassifying as an emerging market from frontier market status and the addition of 57 securities and removal of 28 securities from its All-Country World <.MIWD00000PUS>.

The three largest additions to the ACWI by market capitalisation are Spain's Gamesa Corporacion Tecnologica SA , Denmark's H. Lundbeck A/S and the United States' Athene Holding Ltd .

The <.dMIPK00000PUS> was upgraded from frontier market to its emerging market classification as part of the review. The indexes will fully converge with the Provisional Indexes, effective June 1. There will be no additions to and 10 deletions from the and 11 additions and six deletions from the Small Cap

Pakistan's benchmark Karachi stock exchange <.KSE> jumped 363.96 points, or 1.23 percent, on Monday ahead of the expected upgrade.

also announced changes to its emerging markets index, with the three largest additions measured by market cap slated to be Indian Oil Corp Ltd of India, Novolipetsk Steel of Russia and Bancolombia SA of Colombia.

There will be 308 additions and 157 deletions from the ACWI Investable Market

The changes will be implemented as of the market close on May 31. The announcement was part of quarterly adjustments makes to its indexes, which it says are tracked by $9.5 trillion in assets.

The U.S.-based maker announced changes to its global standard as well as the Global Small Cap and Micro Cap Indexes, the Global Value and Growth Indexes, the Frontier Markets and Frontier Markets Small Cap Indexes, the Global Islamic and Global Islamic Small Cap Indexes, the Pan?Euro and Euro Indexes, the U.S. Equity Indexes, the US REIT Index, the China A Indexes and the China All Shares Indexes.

(Reporting by Dion Rabouin; Editing by Cynthia Osterman and Jonathan Oatis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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