LG Innotek (011070.KS) has been added to the MSCI Korea Index, while four stocks — HLB (028300.KQ), LG Display (034220.KS), POSCO International (047050.KS) and Samsung Epis Holdings (0126Z0) — have been removed.
Morgan Stanley Capital International (MSCI) announced the results of its August semiannual review on the 13th, adjusting the components of its Korea index. The MSCI indexes are among the most widely followed global equity benchmarks and serve as a reference for overseas institutional investors. Inclusion in an index can draw inflows from global passive funds that track it.
As of 8:30 a.m., LG Innotek was trading at 634,000 won in the premarket, up 30,000 won, or 4.97%, from the previous session. Among the stocks dropped from the index, HLB fell 0.36% and POSCO International fell 0.36%, while Samsung Epis Holdings edged down 0.12%.
The index rebalancing is scheduled to take effect after the market close on the 31st of this month. MSCI adjusts index components through regular reviews in February, May, August and November each year, based on total market capitalization and free-float market capitalization.
