KUALA LUMPUR: Malaysia has been promoted to Advanced Emerging market status from the current Secondary Emerging market status in the FTSE Global Equity Index Series.
Global index provider FTSE Group (FTSE) said on Thursday, Sept 23 the promotion to the Advanced Emerging status demonstrates that Malaysia has met FTSE's 'Quality of Markets Assessment' criteria in that category.
'Malaysia will be moved from the FTSE Secondary Emerging Market Indices into the FTSE Advanced Emerging Market Indices, and all parent and sub-indices of these benchmarks, from June 2011,' said FTSE Group.
In the joint statement, BURSA MALAYSIA BHD [] chief executive officer Datuk Yusli Mohamed Yusoff said the promotion of Malaysia into the Advanced Emerging category by FTSE marked another milestone in the development of the market.
'This is testament to the efforts taken to build an efficient and quality market and we are now ready to take on a new level of challenge in this upgraded classification of our capital market,' he said.
Yusli said this recognition belonged to the whole nation following the 'untiring effort and support' given by the government, the regulators, market participants and investors keen to build a market of international quality.
Malaysia joined the FTSE Watch List for possible inclusion in the Advanced Emerging market status a year ago when FTSE announced the results of its Country Classification Annual Review in September 2009.
Malaysia hoped the reclassification of the Malaysian capital market would result in an improvement of the weightage of Malaysia in international indices and increasing foreign investment inflow.
Global index provider FTSE Group (FTSE) said on Thursday, Sept 23 the promotion to the Advanced Emerging status demonstrates that Malaysia has met FTSE's 'Quality of Markets Assessment' criteria in that category.
'Malaysia will be moved from the FTSE Secondary Emerging Market Indices into the FTSE Advanced Emerging Market Indices, and all parent and sub-indices of these benchmarks, from June 2011,' said FTSE Group.
In the joint statement, BURSA MALAYSIA BHD [] chief executive officer Datuk Yusli Mohamed Yusoff said the promotion of Malaysia into the Advanced Emerging category by FTSE marked another milestone in the development of the market.
'This is testament to the efforts taken to build an efficient and quality market and we are now ready to take on a new level of challenge in this upgraded classification of our capital market,' he said.
Yusli said this recognition belonged to the whole nation following the 'untiring effort and support' given by the government, the regulators, market participants and investors keen to build a market of international quality.
Malaysia joined the FTSE Watch List for possible inclusion in the Advanced Emerging market status a year ago when FTSE announced the results of its Country Classification Annual Review in September 2009.
Malaysia hoped the reclassification of the Malaysian capital market would result in an improvement of the weightage of Malaysia in international indices and increasing foreign investment inflow.
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