Thai stocks listed in MSCI indices attract foreign investors
As many as 11 Thai stocks were listed in the MSCI Global Standard and MSCI Global Small Cap Indices, Asia Plus Securities said on Wednesday.
The securities company said Sri Trang Gloves (STGT) and Delta Electronics (DELTA) were listed in the MSCI Global Standard Index, while TMB Bank (TMB) was delisted.
In MSCI Global Small Cap Index, Banpu Power (BPP), Ichitan Group (ICHI), Jay Mart (JMART), MK Restaurant Group (M), R&B Food Supply (RBF), Thaifoods Group (TFG), Tisco Financial Group (TISCO), VGI and IRPC were listed, while STP&I (STPI) and Ratchthani Leasing (THANI) were delisted.
"Normally, the price of stocks listed in MSCI Global Standard Index rise by 4 to 5 per cent, while the price of stocks listed in MSCI Global Small Cap Index rise by 2 to 3 per cent," the securities company said.
The firm went on to say it expects stocks listed in the MSCI Indices to be attractive to foreign investors after they began buying back Thai stocks from Tuesday.
"As an investment strategy, we advise investors to buy TISCO, VGI and CRC as they will benefit from positive news of Covid-19 vaccine development, as well as MINT as its price is still lower than theoretical price," the securities company said.
The securities company added that MSCI has moved Kuwait stock index from MSCI Frontier Market to MSCI Emerging Market as well.
