MSCI Korea index newly includes HMM, Hybe, SKC and GC Pharma

HMM, Hybe, SKC and GC Pharma have newly the MSCI Korea Index in latest rebalancing in the Morgan Stanley Capital International (MSCI), the world’s biggest index provider, on Wednesday.

“South Korea’s weighting in the MSCI Emerging Market Index will be lowered from the current 13.7 percent to 13.5 percent,” said NH Investment & Securities analyst Noh Dong-gil. There was no dramatic change in the proportion of Korean stocks in the index, he added.

The new entrants from Korea showed mixed performance on the market. On expectations of being able to attract foreign passive money, shares of HMM, the nation’s sea flag carrier, jumped 7.21 percent to close at 47,600 won ($42.33) on Wednesday. Hybe, a BTS label formerly known as Big Hit Entertainment, lost 5.02 percent to 246,000 won. Material developer SKC declined 2.5 percent to 136,500 won, while drug maker GC Pharma gained 2.93 percent to 387,000 won.

But stocks that dropped out of the index were on a weak note.

Samsung Card fell 5.53 percent, Lotte 3.59 percent, Korea Gas Corp. 3.31 percent, GS Retail 2.65 percent, Hanwha 7.5 percent, Hyundai Marine & Fire Insurance 5.72 percent and Ottogi 0.54 percent.

The new index rebalancing will take effect after May 28.

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