MSCI has announced its quarterly index review for 1Q25, with changes to Thai stocks set to take effect at the closing price on February 28, 2025. The adjustments include additions and deletions in both the MSCI Small Cap and MSCI Global Standard indices.
Stocks Added to MSCI Small Cap Index (+)
Two stocks have been added to the MSCI Small Cap Index, which may attract additional fund inflows:
- SCG Packaging Public Company Limited (SCGP)
- Global Power Synergy Public Company Limited (GPSC)
Stocks Downgraded from MSCI Global Standard to MSCI Small Cap (-)
Two stocks have been removed from the MSCI Global Standard Index and reassigned to the MSCI Small Cap Index:
- PTT Global Chemical Public Company Limited (PTTGC)
- Thai Oil Public Company Limited (TOP)
Stocks Removed from MSCI Small Cap Index (-)
A total of eleven stocks have been removed from the MSCI Small Cap Index:
- Bangchak Sriracha Public Company Limited (BSRC)
- Dhipaya Group Holdings Public Company Limited (TIPH)
- Dynasty Ceramic Public Company Limited (DCC)
- GFPT Public Company Limited (GFPT)
- The Erawan Group Public Company Limited (ERW)
- Karmarts Public Company Limited (KAMART)
- Pruksa Holding Public Company Limited (PSH)
- PSG Corporation Public Company Limited (PSG)
- Sino-Thai Engineering and Construction Public Company Limited (STECON)
- Thonburi Healthcare Group Public Company Limited (THG)
Market Impact and Fund Flow Adjustments
An analyst noted that foreign funds typically engage in speculative trading and portfolio adjustments based on MSCI index changes. In the two weeks leading up to the effective date of February 28, 2025, fund flows are expected to move accordingly:
- SCG Packaging Public Company Limited (SCGP) and Global Power Synergy Public Company Limited (GPSC) may see increased fund inflows as they enter the MSCI Small Cap Index.
Thirteen stocks (2 downgraded + 11 removed) are expected to experience fund outflows as investors adjust their portfolios to align with MSCI index changes.
