INTUCH not added to the MSCI?
This news has local traders and brokers buzzing this morning regarding Shin Corp (ticker: Intuch) and how an “unclear nationality” of one of the major shareholders may cause the stock to be ineligible for the MSCI Index (see the statement below)
What’s the impact on the stock? Well a temporarily sharp sell off in the AM, as of 10.17am there’s been thb 3 bn traded on the stock 1/4 of today’s value traded thus far. But this just reminds us of when LH was delisted from the MSCI index a few years back and the stock dropped purely because of that, so its only fund flow, short term, no impact on the co’s fundamentals.
| STANDARD ANNOUNCEMENTS – May 21, 2013 at 03:33 PM GMT |
| Announcement for May 21, 2013 at 03:33 PM GMTTHIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDICESUPDATE ON THE TREATMENT OF SHIN CORPORATION PCL IN THE MSCI THAILAND INDEXCOUNTRY CODE TH SECURITY NAME SHIN CORP PCL STANDARD NOT ADDED LARGE CAP NOT ADDED MID CAP - ASIA APEX 50 - TYPE OF EVENT QUARTERLY INDEX REVIEW EFFECTIVE DATE 03-JUN-2013 Re: Announcement sent on May 17, 2013 MSCI has clarified with the Stock Exchange of Thailand (SET) the Following the clarification, the Foreign Inclusion Factor (FIF) of Shin For further information on MSCI indices or MSCI data, visit our web site at MSCI Global Client Service: THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDICES End of announcement. |