MSCI Inc. announced in its 2019 annual review of international equity markets, that it has upgraded the Kuwaiti market from "under-emerging" to "emerging markets" level.
The Foundation explained that this decision came in light of the radical regulatory reforms carried out by the Kuwait Stock Exchange, after addressing the observations that were previously detected.
MSCI said that it will reclassify Kuwait by upgrading it to emerging markets, subject to the availability of consolidated accounting structures and corresponding figures before the end of November, indicating that including Stock Exchange into the MSCI components will be next December 31, however the Kuwaiti shares, which will be covered by the upgrade, are ready to receive foreign liquidity from the international institutions in May 2020. MSCI pointed out that Kuwait's weight will be about 0.5 percent of the total index.
Expectations that the Kuwait Stock Exchange will be upgraded to the index will involve the entry of funds of $2.8 billion to the stock exchange.
Source (CNBC Arabic Website, Edited)
