SK Biopharmaceuticals Co., SK Chemicals Co. and Doosan Heavy Industries & Construction Co. have newly joined the MSCI index of the world’s biggest index provider the Morgan Stanley Capital International on Wednesday.
“SK Biopharmaceuticals, SK Chemicals and Doosan Heavy have a 0.04 percent weight each in the MSCI Emerging Market (EM) Index,” NH Investment Securities analyst Noh Dong-gil said. He predicted the companies each could attract 106.4 billion won ($95.8 million) foreign passive money.
They replace AmorePacific preferred stocks, Posco International Corp. and BNK Financial Group.
There are currently 107 Korean companies included in the index.
Those companies showed mixed performance on the Korean stock market. SK Biopharmaceuticals fell 1.47 percent to close Wednesday at 167,000 won and SK Chemicals plummeted 11.2 percent to 405,000 won. Doosan Heavy Industries, on the other hand, rose 2.51 percent to 16,350 won.
Shares of AmorePacific preferred stocks gained 3.66 percent to 56,600 won. Posco International rose 1.79 percent to 14,250 won and BNK Financial Group 2.49 percent to 6,180 won.
The rebalancing will take effect based on the closing price on Nov. 30.
By Shin Yoo-kyung and Choi Mira
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