Fall of a bellwether

LAST Monday was the cut-off date for the FTSE Bursa Malaysia KLCI (FBM KLCI) index review and based on the ranking of the top 30 market capitalisation, it was indeed momentous as both Genting Bhd (Genting) and Genting Malaysia Bhd (GenM) will likely be booted out when the official announcement is made next week.

The rebalancing date itself will be implemented after close of business on the third Friday of December, which is Dec 20, while the effective date is on Monday, Dec 23.