MSCI reclassifies stocks in Asian, emerging market indexes

REUTERS - Index provider MSCI reclassified equities across a broad spectrum of Asian and emerging markets as part of its May semi-annual index review.

Changes in constituents will take place after markets close on May 30, MSCI said in a statement on Wednesday. http://link.reuters.com/guv39v

The three largest additions to the MSCI Emerging Markets Index <.MSCIEF> will be Qatar National Bank , Industries Qatar and National Bank of Abu Dhabi .

Notable additions to MSCI China index include China Everbright Bank <601818.SS>, Kingsoft Corp <3888.HK> and China Huishan Dairy <6863.HK>.

Hikari Tsushin Inc <9435.T>, Japan Display Inc <6740.T>, Nagoya Railroad Co Ltd <9048.T> would be added to the MSCI Japan index.

 

India's Aurobindo Pharma has been upgraded to the MSCI India index from small cap indexes, the statement added.

Also, MSCI reiterated that MSCI Qatar and MSCI UAE Indices will be reclassified from Frontier Markets to Emerging Markets as decided in previous reviews.

(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)