Morgan Stanley to add Boursa Kuwait to 2019 classification review

Morgan Stanley Capital International (MSCI) will include the Kuwait Index in its 2019 Annual Market Classification Review for a potential reclassification from Frontier Markets to Emerging Markets status, Boursa Kuwait, the Kuwaiti stock exchange said Thursday.

MSCI will consult market participants on the proposed reclassification of the MSCI Kuwait Index, and will announce its decision in June 2019 for potential implementation with the May 2020 Semi-Annual Index Review, a statement added.

It noted that the MSCI Kuwait index would have a potential weight of 0.3 percent in the MSCI Emerging markets index.

The statement quoted Boursa Kuwait CEO Khaled Al Khaled as saying that the announcement is evidence that Boursa Kuwait is progressing on the right track in its market development plan, as well as the most recent upgrades implemented by the bourse.

Last year, the Financial Times Stock Exchange (FTSE) Russell Governance Board added Kuwait to its Secondary Emerging Market Index. The updated entry will take place in two equal stages in September and December this year.

Source: Kuwait News Agency