MSCI cuts Taiwan weighting in two indices

 2012/05/16  Taipei, May 16 (CNA) MSCI, a global index provider, on Wednesday cut Taiwan's weighting in two of its indices after its semi-annual review.   Taiwan's weighting fell 0.04 percentage points in the MSCI Emerging Markets Index to 11.17 percent, while in the MSCI Asia-Pacific Index (excluding Japan) Taiwan dropped to 18.52 percent from 18.56 percent.   Market analysts said the cuts in Taiwan's weighting reflected recent losses in the local bourse amid concerns over a possible capital gains tax and lingering worries over the debt problems in the eurozone.   MSCI has removed home appliance supplier Tatung Co. from its global standard indices and has added automation equipment maker Airtac International Group and engineering and construction company CTCI Corp.   Meanwhile, MSCI added eight Taiwan stocks to its Global Small Cap Indices. They include Medigen Biotechnology Corp., Tatung Co., food maker TTET Union Corp., and LCD backlit module supplier Ubright Optronics Corp.   The index provider has removed 25 other Taiwan stocks from its global small cap indices. Among them are software developer Astro Corp., optoelectronics firm Cando Corp., Central Reinsurance Corp., CTCI Corp., Mayer Steel Pipe Corp., semiconductor firm Mosel Vitelic Inc., Hung Ching Development & Construction Co., and Ta Chong Securities Co.   China's weighting in the Emerging Markets Index rose by 0.24 percentage points and in the Asia-Pacific Index (excluding Japan) by 0.45 percentage points.   The weighting of Thailand and the Philippines also increased in those two indices.   Meanwhile, India's weighting in the Emerging Markets Index was cut by 0.2 percentage points and in the Asia-Pacific Index (excluding Japan) by 0.32 percentage points.   MSCI has also lowered South Korea's weighting in those two indices, by 0.08 percent and 0.09 percent, respectively.   MSCI said the index adjustments are scheduled to take effect after the close of the Taiwan market May 31.