Top Glove Kicked Out Of MSCI Index

<p>&nbsp;Top Glove will reportedly be removed from the constituent stocks of the MSCI Global Standard Index which will come into effect at the end of this month.</p><p><br /></p><p>The data from MSCI revealed that only one company, Top Glove, was removed from the review, but no new companies were added to the index.</p><p><br /></p><p>MSCI's quarterly index adjustments will take effect after the market closes on August 31.</p><p><br /></p><p>Following the removal, there are still 32 Malaysian companies on the list.</p><p><br /></p><p><br /></p><p>The glove-making giant traded down 3 sen to 83.5 sen during the afternoon trading session, with a market capitalization of RM6.82 billion.</p><p><br /></p><p>Globally, 61 companies were added to the list, while 46 companies were kicked out of the MSCI World Index (ACWI).</p><p><br /></p><p>An MSCI index series refers to a number of stock prices compiled by Morgan Stanley Capital International (MSCI), which can be used as a fund valuation benchmark.</p><p><br /></p><p>Many fund managers or index funds will directly use the stock-related index components for trading targets, so when there is an adjustment or change, it will have a big impact on the market.</p>