[Featured Stock] Hyundai Heavy Industries Rises Over 3% on MSCI Inclusion News
[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries is experiencing a rise of over 3% in early trading following news of its inclusion in the MSCI (Morgan Stanley Capital International) semi-annual review.
As of 9:12 AM on the 13th, Hyundai Heavy Industries is trading at 128,000 KRW, up 3.23% (4,000 KRW) from the previous close.
In the MSCI May semi-annual review results, Hyundai Heavy Industries was the only company added in Korea without any deletions. The revised index will be applied starting June 1, and passive funds tracking the MSCI index are expected to conduct stock replacements (rebalancing) on May 31.
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The revised index will take effect from June 1. Passive funds tracking the MSCI index will begin stock replacements (rebalancing) on the 31st of this month. The inclusion of Hyundai Heavy Industries in the MSCI is interpreted as boosting investor sentiment due to anticipated buying pressure on the company.
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