Nestle, SP Setia surge on addition to MSCI Malaysia Index, Press Metal included

The company

KUALA LUMPUR: Nestle (Malaysia), Press Metal Aluminium and SP Setia have been included into MSCI Malaysia Index with effect from Nov 30, giving a boost to the companies as they will be under the radar of global fund managers.

Under its November 2017 semi-annual index review for the MSCI Equity Indexes, MSCI said on Tuesday that under its MSCI Small Cap Index it had included Eco World International, George Kent, Hengyuan and Petron Malaysia.

However, it deleted CB Industrial, Jaya Tiasa, JCY Industrial, Media Prima, Prestariang and Tune Protect from the Small Cap Index.

Shares of Nestle surged to a record high of RM94.82. At 11.38am, it was up RM4.26 to RM92.90. Also up was SP Setia, up 22 sen to RM3.47 while Hengyuan gained 16 sen to RM10.76.

MSCI is a leading provider of research-based indexes and analytics. The review for the MSCI Equity Indexes – included 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.

Also reviewed were 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 Indexes and the MSCI China All Shares Indexes.