In today’s briefing:
- Index Rebalance & ETF Flow Recap: MSCI, S&P Global Water, TW Div+, FTSE JP, STI, OZ Minerals
- Predicting Inclusion at MSCI Korea November IR: Hyundai Mipo Dockyard
Index Rebalance & ETF Flow Recap: MSCI, S&P Global Water, TW Div+, FTSE JP, STI, OZ Minerals
- MSCI announced the changes to its indices prior to market open on 12 August. Most changes were expected, while the non-inclusion of Gcl Poly Energy (3800 HK) was a surprise.
- There are a bunch of announcement on the coming Friday for the Hang Seng and FTSE indices. Plus the review cutoff for the S&P/ASX family of indices.
- Outflows from KraneShares CSI China Internet ETF (KWEB US) continued for yet another week, while there were inflows to iShares Core MSCI Pacific ETF (IPAC US).
Predicting Inclusion at MSCI Korea November IR: Hyundai Mipo Dockyard
- The MSCI’s November IR will hardly see any new addition from Outside IMI. Additions will mostly come from Small Cap→Standard migration.
- There are 12 candidates for Small Cap→Standard migration. They are all beating the float market cap hurdle. However, only Hyundai Mipo satisfies the full market cap requirement.
- At the current market cap, Hyundai Mipo will likely cause passive inflows equivalent to 5.89x ADTV, equal to US$160M or 1.9M shares.
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