|Bid||0.00 x 800|
|Ask||232.38 x 1000|
|Day's Range||227.52 - 232.97|
|52 Week Range||134.28 - 247.57|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||34.54|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||2.72 (1.17%)|
|1y Target Est||247.50|
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.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of MSCI Inc. New York, August 12, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of MSCI Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
MSCI Inc. (NYSE:MSCI) is about to trade ex-dividend in the next 3 days. You can purchase shares before the 15th of...
(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.
MSCI Inc. (MSCI), a leading provider of research-based indexes and analytics, announced the results of the August 2019 Quarterly Index Review for the MSCI Equity Indexes - including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets and MSCI Frontier Markets Small Cap Indexes, the MSCI Frontier Emerging Markets Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore indexes and the MSCI China All Shares Indexes. All changes will be implemented as of the close of August 27, 2019.
(Bloomberg) -- South Korea’s won and stocks led losses in Asian emerging-market assets as trade tensions escalated and signs emerged that China was allowing currency depreciation to ward off the latest U.S. tariff threat.The won slipped as much as 1.7% to 1,218.35 per dollar, its weakest since March 2016. Bulk of the losses came after China set its yuan fixing at a level weaker than 6.9 per dollar for the first time in 2019. The Kospi Index of shares sank 2.5%. South Korean bonds rallied, with the 3-year yield falling to a record low on bets a worsening economic outlook will prompt the central bank to ease policy again.Pressure on South Korean assets has risen after Tokyo on Friday removed Seoul from a list of trusted export destinations, prompting the latter to say it would do the same. That’s when the export-dependent economy is already caught in the trade-war crossfire between the U.S. and China, its two major trading partners, and is also grappling with a slump in demand for memory chips. Volatility in local financial and foreign-exchange markets may rise, the Bank of Korea warned on Friday.“Considering the weight of trade woes on the won, further escalation in disputes may weaken the currency to as low as 1,220 per dollar,” said Chang Jaechul, chief economist at KB Securities Co. The won’s drop since July reflects “the risk of growing uncertainties in the market, combined with the broad dollar rally and yuan’s weakness,” he said.READ: South Korea Exports Fall Again in July as Trade Woes Drag OnThe move in the dollar-won pair is “excessive” and “abnormal,” South Korea’s FX authority said on Monday as the won fell past the key 1,200-per dollar mark for the first time since 2017.That said, analysts say the yuan’s sudden slump is a sign the People’s Bank of China will allow more depreciation after the U.S. vowed to hit the country’s products with new tariffs, adding to the pressure on Asian currencies.China’s weaker fixing signals more downside for regional currencies, said Qi Gao, a currency strategist at Scotiabank in Singapore.Stocks, BondsThe tech-heavy Kosdaq Index slumped as much as 5.2%. Samsung Electronics Co., the nation’s biggest stock, dropped for a fourth day.Investors need to be defensive with their portfolios, considering MSCI Inc.’s plan for reducing Korean equities in a re-balancing scheduled for this month will also be weighing on the stock market, said Park So-yeon, a strategist at Korea Investment & Securities.South Korea’s benchmark three-year yield slid 7 basis points to 1.199%. It could drop to a fresh record low of 1.10% by year-end as traders add to bets for the BOK to lower the benchmark rate again, said Kang Seungwon, fixed income strategist at NH Investment & Securities Co.Prime Minister Lee Nak-yon on Sunday urged Japan to correct its “reckless and risky” decision to curb exports to the country. Separately, China’s state-run agricultural firms have now stopped buying American farm goods, and are waiting to see how trade talks progress, according to people familiar with the matter.\--With assistance from Masaki Kondo.To contact the reporters on this story: Hooyeon Kim in Seoul at email@example.com;Heejin Kim in Seoul at firstname.lastname@example.orgTo contact the editors responsible for this story: Tan Hwee Ann at email@example.com, Shikhar Balwani, Brett MillerFor 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 firstname.lastname@example.org;Heejin Kim in Seoul at email@example.com;Ishika Mookerjee in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, Teo Chian WeiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MSCI (MSCI) delivered earnings and revenue surprises of 3.36% and 1.08%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
MSCI Inc. (MSCI), a leading provider of research-based indexes and analytics, will announce the results of the August 2019 Quarterly Index Review for the MSCI Equity Indexes - including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI Frontier Emerging Markets Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore Indexes and the MSCI China All Shares Indexes. All changes will be made as of the close of August 27, 2019.
MSCI's second-quarter 2019 results are likely to benefit from strong demand for custom and factor index modules, and rising adoption of the ESG solution in the investment process.
MSCI (MSCI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg Opinion) -- ETFs have new competition, and its name is ESG. Exchange-traded funds have been one of the most disruptive forces in investing in recent years. Burned by decades of high fees and underperformance in actively managed mutual funds, investors have turned to low-cost index ETFs in big numbers. They pulled a net $39 billion from mutual funds and handed $1.5 trillion to ETFs since 2015, according to Bloomberg Intelligence. But the ETF industry may soon face a disruption of its own. ESG, which is part of a larger trend known as social investing, is quickly gaining adherents. It was the hot topic at the IMN Global Indexing & ETFs conference I attended recently. As fellow attendee and longtime industry observer Rick Ferri tweeted during the conference, “Many years ago, this conference was all about cap-weighted indices, a few years ago, it was all about Smart Beta. This year, it’s all about ESG.”For the uninitiated, ESG attempts to identify companies with environmental, social or governance-related policies — thus the acronym — that have historically translated into better-performing stocks. It’s not to be confused with socially responsible investing, or SRI, which attempts to align investors’ portfolios with their values by excluding companies that run afoul of them.So far, individual investors have turned mostly to ETFs and mutual funds for ESG investing, but that may be about to change. A new generation of online financial advisers buys stocks directly rather than through funds, allowing investors to customize their portfolios. And for social investors, the ability to decide which companies are worthy of their investment dollars is the whole point.On the surface, ETFs seem like a natural fit for ESG investors. ESG closely resembles other styles of factor investing that have proliferated in the ETF ecosystem, such as value, quality, momentum and low-volatility funds. Both ESG and factor investing attempt to outperform the market by reducing volatility or bolstering returns, or both. Also, they’re both quantitative strategies that use company data to select stocks, which means they can be recast as a rules-based index and tracked cheaply by ETFs.There’s an important difference between the two, however. There are only so many ways to measure traditional factors such as value. Whatever an investor’s preferred yardstick, there’s likely an ETF that tracks it. ESG, on the other hand, is factor investing on steroids. There are numerous individual factors within each of the environmental, social and governance umbrellas, and each of them can be expressed in myriad ways. Investors are therefore far less likely to find an ETF that captures their preferred approach to ESG. The same is true for other forms of social investing, such as SRI, where no one fund — or even series of funds — can capture the diversity of investors’ values.That’s probably one reason — in addition to the fact that social investing is littered with impenetrable jargon — investors have shown little enthusiasm for social-investing ETFs, despite the movement’s growing popularity. Of the roughly $4 trillion invested in ETFs, a scant $13 billion is in social investing-related funds.Matt Moscardi, executive director of ESG Research at MSCI Inc., pointed out in an email that “for investors thinking about ESG, it does make sense to define what ESG is for them, then tailor the portfolio.” Many institutional investors are doing just that. MSCI boasts 1,300 institutional investors from around the world that use its ESG ratings and research, a monster trove covering 650,000 securities and 8 million derivatives globally. Unlike institutions, it’s not practical for individual investors to build their own ESG portfolios. The cost of the data is prohibitive relative to the size of most individual portfolios. And even if it were affordable, most investors don’t have the time or expertise to comb through the vast quantity of ESG data. This is where the new breed of online advisers comes in. Upstarts such as Open Invest Co. and Ethic Inc. are removing those barriers and allowing investors to customize their portfolios around their social investing priorities.If the popularity of social investing continues to grow, as I believe it will, Wall Street firms are likely to offer customizable portfolios of their own. And why stop there? Direct investing could allow investors to customize their portfolios beyond social investing, by targeting other factors, for example, or excluding their employer’s stock.That doesn’t mean ETFs are going away. Despite their disruption of the mutual fund industry, there’s still more than $17 trillion invested in open-end mutual funds, according to Morningstar. But social investors may migrate to customized portfolios sooner than the ETF industry thinks. Moscardi told me, “I imagine that’s where everyone will get to with it 5+ years from now.” My guess is it will be sooner.To contact the author of this story: Nir Kaissar at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nir Kaissar is a Bloomberg Opinion columnist covering the markets. He is the founder of Unison Advisors, an asset management firm. He has worked as a lawyer at Sullivan & Cromwell and a consultant at Ernst & Young. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.