A screen shows a Kospi chart at the Hana Bank headquarters, in Myeong-dong, Seoul. (Yonhap)
Morgan Stanley Capital International said Friday that it has added six South Korean stocks, including local gaming giants Kakao Games and Krafton, to its regional emerging market index via November’s quarterly review.
According to the capital market indexes provider, the rest of the list includes L&F, a battery materials manufacturer, fashion company F&F, diagnostics company SD Biosensor and Iljin Materials, an electronics components manufacturer.
At the same time, it took three companies, Daewoo Shipbuilding & Marine Engineering, Shinsegae and Fila Holdings, off the list. The changes will take effect after the market closes on Nov. 30, according to the firm.
The rebalancing process was based on the listed firms’ market capitalization and their free-float market capitalization. As a result, the MSCI Korea Index now consists of 109 companies, including such leading firms as Samsung Electronics, SK hynix, Naver and Kakao Corp.
“Upon the listed stocks’ entries, we expect Korea’s stock market to account for 12.1 percent out of the total MSCI indexes of 23 emerging markets, up by 0.1 percentage point,” said No Dong-gil, a Shinhan Investment Group analyst.
Shares of Kakao Games closed at 96,900 won ($82), up 4.19 percent from the previous session. Krafton saw a 1.3 percent increase, reaching 547,000 won.
By Byun Hye-jin (email@example.com