Morgan Stanley Capital International (MSCI) will implement the reclassification of the MSCI Kuwait Indexes from Frontier Markets status to Emerging Markets status.
This step will coincide with “the November 2020 SemiAnnual Index Review (SAIR),” Kuwait Capital Market Authority (CMA) said in a statement posted on it Twitter account on Tuesday, citing a reminder by MSCI.
MSCI – a leading provider of critical decision support tools and services, issued the reminder earlier in the day.
On April 9, CMA said although Kuwait has met the requirements of reclassification, the MSCI put off the move until November due to the massive fallout of the novel coronavirus pandemic on the global economy and the movement of investments.
The health precautions and preventive measures, implemented by countries and companies around the globe to stem the tide of the pandemic, hindered the operational ability of investors and hampered their accessibility to the firms listed on Kuwait stock market in last May, CMA noted.
The process to reclassify Kuwait stock exchange (Boursa Kuwait) to emerging market started in September 2017 when Kuwait jointed the Emerging Markets Index of FTSE Russell – a British provider of stock market indices and associated data services.
Source: Kuwait News Agency