 "The MSCI logo is seen in this June 20, 2017. Photo: Reuters")
Saudi Arabia’s efforts to modernize its stock market and attract billions in investments were recognized by MSCI Inc., which announced on Wednesday the addition of the kingdom to its group of emerging markets.
The index compiler, which has more than $1.9 trillion in assets benchmarked to its group of emerging markets indexes, will reclassify Saudi Arabia with implementation of its indexes starting in June 2019, it said. The nation was added to a watch list for a potential upgrade last year, and will now join nations including China, India, Turkey, South Africa and Brazil. Separately, MSCI said it would upgrade Argentina
