MSCI names Qatari stocks for EM Index
Doha, May 15, 2014
International equity index compiler MSCI has announced the final list of Qatari stocks that will join its Emerging Markets Index upon the upgrade of the Qatari market on June 2.
With this move, Qatar Stock Exchange aims to attract additional foreign investment into the bourse.
The Qatari companies which will be added to the MSCI Emerging Markets Index are Masraf Al Rayan, Barwa Real Estate, Commercial Bank of Qatar, Doha Bank, Ooredoo, Qatar Electricity & Water, Qatar Industries, Qatar Islamic Bank, Qatar National Bank (QNB), and Vodafone Qatar.
Rashid bin Ali Al-Mansoori, the CEO of Qatar Stock Exchange, described the announcement as a positive step that would improve the performance of the stock market in Qatar.
"We are proud of the performance of Qatari listed companies as evidenced by the inclusion of the 10 companies in the MSCI EM index. This development would enhance liquidity in the market and contribute to the flow of medium-and long-term foreign investments," stated Al Mansoori.
According to him, this will open the door to the flow of investments of global portfolios to invest in the shares of Qatari companies that will benefit directly from these investments which will reflect positively on the various economic sectors in the country, especially in view of the fact that these foreign investment portfolios seek to invest in the Qatari market, which is characterized for being safe and stable investment environment.
The MSCI EM index, which manages assets worth about $3.3 trillion, includes the markets of emerging economies such as China, Russia, South Korea, India, Brazil, Malaysia, Turkey and Taiwan.-TradeArabia News Service