MSCI adds Oneness Biotech to Global Standard Indexes
MSCI adds Oneness Biotech, Unimicron to global standard indexes
Taipei, Nov. 11 (CNA) MSCI Inc., a global index provider, has decided to add two Taiwanese stocks to the MSCI Global Standard Indexes but remove two others after its November semi-annual index review.
In a statement posted on its website overnight, MSCI said it will include drug developer Oneness Biotech Co. and printed circuit board maker Unimicron Technology Corp. in the MSCI Global Standard Indexes.
Analysts said the inclusion reflected the gains posted by the two companies' share prices in recent months.
Interest in drug developer Oneness Biotech has surged amid the COVID-19 pandemic, with its stock gaining 9 percent on the over-the-counter market as of Tuesday since the beginning of the third quarter.
PCB maker Unimicron, which has benefited from demand for devices catering to the stay-at-home economy, has seen its shares gain 47.2 percent on the Taiwan Stock Exchange over the same period.
In response to their inclusion by MSCI, Unimicron shares had risen 3.36 percent to NT$73.90 (US$2.59) and Oneness Biotech shares had added 1.65 percent to NT$276.50 as of 11:24 a.m. Wednesday.
After the inclusion into the MSCI Global Standard Indexes, the two stocks will be deleted from the MSCI Global Small Cap Indexes, according to the index provider.
At the same time, MSCI deleted textile maker Formosa Taffeta Corp. and EVA Airways Corp. (EVA Air) from the MSCI Global Standard Indexes but will add them to the MSCI Global Small Cap Indexes.
Despite their removal from the MSCI Global Standard Indexes, Formosa Taffeta shares had risen 1.89 percent to NT$32.35, while EVA Air shares had fallen 2.06 percent to NT$11.90 as of 11:24 a.m.
The index adjustments are scheduled to take effect after the markets close on Nov. 30, MSCI said.
MSCI added 23 other Taiwanese stocks to the MSCI Global Small Cap indexes. Among the 23 new additions, five are in the biotech or health care sectors.
They are Microbio Co., vaccine supplier Adimmun Corp., Medigen Vaccine Biologics Corp., Universal Vision Biotechnology Co. and fitness equipment supplier Dyaco International Inc.
Among the other stocks to be added to the MSCI Global Small Cap Indexes are solar energy developer Motech Industries Co., property developer Kuo Yang Construction Co., Chung-Hsin Electric & Machinery Manufacturing Corp., Fortune Electric Co., resin maker Swancor Holding Co., and Universal Cement Corp.
(By Jeffrey Wu, Han Ting-ting and Frances Huang)