by Lee Yu Tang
KUALA LUMPUR: Bursa Malaysia Bhd would retire the Kuala Lumpur Syariah Index (KLSI), Second Board and Mesdaq indices today and replace them with the FTSE Bursa Malaysia EMAS Syariah, FTSE Bursa Malaysia Second Board and FTSE Bursa Malaysia Mesdaq Indices respectively. With the retirement of the KLSI, the stock exchange said the FTSE Bursa Syariah Index would become the primary index for Malaysian Syariah-compliant investments. It said the new FTSE Bursa indices would run parallel with the existing indices until tomorrow, and the existing indices will no longer be calculated effective Saturday. “The transition to FTSE Bursa indices provides a more globally relevant trading foundation for both domestic and foreign investors to base their investment analyses and decisions, increasing its appeal to international investors,” said Bursa’s chief executive officer Datuk Yusli Mohamed Yusoff. Yusli said the FTSE methodology would enhance the overall quality of public listed companies (PLCs) on the local bourse through its stringent reviews. The cutover of the existing indices to the FTSE Bursa indices will provide investors with market measures that are investable, liquid and transparently managed. The series adopts FTSE’s globally recognised methodology standards such as free float adjustment and liquidity screens, managed according to a clear, transparent and publicly available set of ground rules, according to Bursa. Managing director of FTSE Asia Pacific Paul Hoff said the use of FTSE’s internationally accepted methodology demonstrates Bursa’s commitment to bring their domestic benchmarks in line with the needs of international investors. Source: theedgedaily.com
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