|Bid||213.15 x 30000|
|Ask||213.90 x 30000|
|Day's Range||211.30 - 212.20|
|52 Week Range||123.01 - 219.60|
|Beta (3Y Monthly)||0.63|
|PE Ratio (TTM)||31.59|
|Forward Dividend & Yield||2.45 (1.18%)|
|1y Target Est||N/A|
The data provider is taking advantage of several growth tailwinds in the financial sector, but is the stock worth investing in?
Index provider MSCI said on Tuesday it has not yet considered reclassifying the recently upgraded Argentina stock index out of emerging markets despite the massive spike in volatility and decline in prices. "Accessibility of the market for foreign investors is the key factor here," said Pavlo Taranenko, executive director of index research at MSCI, regarding Argentina's standing. MSCI Argentina, which was added to the widely followed emerging markets index in May, is composed of eight Argentine companies that trade on the New York Stock Exchange or Nasdaq.
(Bloomberg) -- China is mulling the biggest changes to its futures market since 2015, an overhaul that would give global investors unprecedented access, make it easier to execute bearish trades, and lay the groundwork for wagers on stock-market volatility.The proposed changes, still under discussion by regulators, would remove a ban on unhedged bets against the market and allow foreigners to trade equity-index and commodity futures without a government-approved quota, according to people familiar with the matter. The China Financial Futures Exchange is also considering a new range of products, including futures on the MSCI China A Index, the people said. The bourse plans to introduce an equity volatility index that may eventually serve as the basis for derivatives contracts.The proposals suggest China is pushing ahead with efforts open its financial system, despite an intensifying trade war with America. Looser restrictions on index futures would not only breathe life into a market that regulators effectively killed during a haphazard crackdown in 2015, they would help attract overseas inflows at a time when China needs all the foreign capital it can get. Even after the country’s domestic shares won entry into MSCI Inc.’s global indexes, some international investors have been reluctant to increase their exposure because of a dearth of hedging tools.There’s no clear timetable for the new rules to be introduced, but preparations by regulators and exchanges have gathered pace in recent months, said the people, who asked not to be named because the discussions are private. While contracts linked to crude oil, iron ore and purified terephthalic acid are already fully open to foreigners, the changes would expand access to the entire commodity futures market, they said.The China Financial Futures Exchange declined to comment. The China Securities Regulatory Commission didn’t immediately reply to a fax seeking comment.Futures-related stocks surged. China CIFCO Investment Co. rose as much as 7.7% while Jiangsu Holly Corp. gained 4.4% in Shanghai.International equity investors currently hedge their China exposure with overseas futures contracts, Hong Kong-listed stocks, exchange-traded funds or structured products, all of which have features that make them less than perfect. Singapore Exchange Ltd. offers the most popular offshore futures tied to Chinese-listed shares, while Hong Kong Exchanges & Clearing Ltd. signed an agreement with MSCI in March to introduce similar contracts, though they haven’t yet launched.In the past year, China has stepped up efforts to make it easier for international investors to access its capital markets. In January authorities said they would expand the scope of the government quota, called the Qualified Foreign Institutional Investors program, by allowing offshore funds to trade a wider range of futures and options, though the plan has yet to take effect.Restrictions on index futures trading introduced during the country’s 2015 stock-market crash -- such as the number of contracts that each investor can open -- have been eased multiple times in recent years. The foreign opening plans under consideration would go further than the pre-2015 rules in giving access to overseas participants.Foreign institutions and individuals held about 3% of domestic Chinese stocks and 2% of bonds at the end of March, according to the People’s Bank of China. Central bank Governor Yi Gang said in March that more hedging tools were going to be part of the country’s financial opening. Authorities are approving majority foreign control for onshore financial services ventures, and have said they will scrap foreign ownership limits of securities firms, fund firms, life insurers and futures firms in 2020.(Updates with share reaction in the sixth paragraph.)\--With assistance from Amy Li, Evelyn Yu and Lucille Liu.To contact Bloomberg News staff for this story: Jun Luo in Shanghai at email@example.com;Heng Xie in Beijing at firstname.lastname@example.org;Xize Kang in Beijing at email@example.comTo contact the editors responsible for this story: Sam Mamudi at firstname.lastname@example.org, Michael PattersonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- As if falling profits and escalating trade spats at home and abroad weren’t bad enough, Samsung Electronics Co.’s shares may be dealt another blow when MSCI Inc. reviews weightings of its stock gauges this week.The index provider’s quarterly review scheduled for Aug. 7 could trigger a net outflow of 458 billion won ($382 million) from the shares of South Korea’s top company this month as the nation’s weighting is set to get cut in the MSCI Emerging Markets Index, according to estimates from Shinhan Investment Corp.The ongoing inclusion of China A shares and Saudi Arabia in emerging market stocks will lower the representation of other countries. The move could mean South Korea’s weighting will fall by 0.3 of a percentage point to 12%, according to Yuanta Securities Korea and Eastspring Investments Singapore Ltd.The lower weighting in MSCI indexes, coupled with trade wars and the not-so cheap valuation, may attract more bears on Samsung’s stock, which has already seen short interest rising since the end of April.U.S. President Donald Trump abruptly escalated his trade war with China late last week, announcing that he would impose a 10% tariff on a further $300 billion in Chinese imports while Japan confirmed Friday that it will remove South Korea from a list of trusted export destinations.Samsung shares have fallen about 6% since the company reported sharply lower profits on Wednesday amid global trade tensions and a wireless industry slump. However, the stock is still up 13% for the year, compared to a 4.3% decline in the benchmark Kospi Index. The gauge fell as much as 2.5% on Monday, set for its lowest close since Nov. 2016 while company’s shares declined 2.5% as rising trade tensions worsened its outlook.“Traders have recently increased short-sell volumes against Samsung’s shares and the trend is expected to accelerate ahead of the rebalancing,” Hana Financial Investment said in a note on July 28.To be sure, Kim Ju-in, a passive fund manager at NH-Amundi Asset Management Co., said that the MSCI’s review will only cause a “short-term shock” and what is really moving the market is the trade spat with Japan.MSCI’s review “is going to be a technical overhang on the market” at a time when more investors have started looking to other areas of opportunity in Asia, said Medha Samant, investment director at Fidelity International Ltd.(Updates stock performance in sixth paragraph.)To contact the reporters on this story: Abhishek Vishnoi in Singapore at email@example.com;Heejin Kim in Seoul at firstname.lastname@example.org;Ishika Mookerjee in Singapore at email@example.comTo contact the editors responsible for this story: Lianting Tu at firstname.lastname@example.org, Teo Chian WeiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In March 2017, Morningstar published a study that found that value and low-volatility investment strategies exhibited consistent industry tilts that did not significantly contribute to their success. However, these tilts seemed to help the momentum factor, where they were more dynamic. To investigate this further, I compared the performance of MSCI's sector-neutral and unadjusted quality and value indexes across several markets. The U.S.-focused sector-neutral quality and value indexes are available through iShares Edge MSCI USA Quality Factor ETF QUAL and iShares Edge MSCI USA Value Factor ETF VLUE , respectively.
* Saudi rises for a third day * All Saudi banks gain * Aljazira Takaful, Solidarity climb on merger talks * Industries Qatar gains after stock split By Shakeel Ahmad June 27 (Reuters) - All major Gulf markets gained on Thursday, reflecting a global equity rally, amid hopes for a U.S.-China trade truce, with Saudi shares getting a further boost from after limits were lowered on foreign share ownership. Saudi's stock index was up 1.3%, with Arab National Bank rising 7% and Al Rajhi Bank up 1.9%. Saudi stocks were incorporated into the FTSE emerging-market index in March and the MSCI emerging market benchmark in May. Insurers Aljazira Takaful Taawuni and Solidarity Saudi Takaful rose 1.8% and 2.8% respectively after they signed a memorandum of understanding to evaluate their merger in a share-swap deal.
Iceland may soon reclaim a place on the investment stage through inclusion in global equity indexes, but with pricey stocks, a fading economy and reforms done and dusted, fund managers are not rushing back there. Iceland is already on course to join index provider FTSE Russell's Frontier Market benchmark in September and rival MSCI said late on Tuesday that it might add its Icelandic stock index to its Frontier Market (FM) equity benchmarks. Investors' reaction to the index announcement was muted however, with Reykjavik's main equity index slipping 0.6% on Wednesday -- more than the 0.2% decline in MSCI's FM 100 index of the largest and most liquid frontier market stocks.
MSCI Inc said on Tuesday it would upgrade Kuwaiti equities to its main emerging markets index in 2020, a move that could trigger billions of dollars of inflows from passive funds. The index compiler will include the MSCI Kuwait index in the emerging market index in the May 2020 semi-annual index review. MSCI, the world's largest index provider, whose emerging-market group of indexes has about $1.8 trillion of assets tied to it, also said it would start a consultation on reclassifying the MSCI Iceland Index to Frontier Markets status.
U.S. Senator Marco Rubio has written to the CEO of global index provider MSCI Inc seeking information on why the company has included certain Chinese stocks in its widely tracked emerging market index, his office said on Thursday. The letter forms part of a broader push by Rubio and other Washington lawmakers to crack down on Chinese companies operating in the U.S. equities markets amid a broader trade war with China. U.S. investors are exposed to Chinese companies if they are listed in the United States or included in major benchmarks.
MSCI and FTSE Russell are increasing the inclusion of China A-shares in key indices, sending an unequivocal message about the index providers' (and institutional investors') confidence in China. What does it mean for international investors? A year after the initial inclusion of China A-shares in the MSCI indexes, MSCI has initiated a three-step process to lift the China A-shares inclusion factor from a symbolic 5% to a meaningful 20% by the end of November 2019.