Home improvement retailer MR DIY joins MSCI Malaysia index while Fraser & Neave and Westports out

Home improvement retailer MR DIY joins MSCI Malaysia index while Fraser & Neave and Westports out
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KUALA LUMPUR (May 13): MR DIY Group (M) Bhd will be added to MSCI Malaysia Index, following MSCI Inc's May 2022 semi-annual index review.  

Meanwhile, food and beverage company Fraser & Neave Holdings Bhd (F&N) and port operator Westports Holdings Bhd will be kicked out of the index.

The changes in the index components will take effect as of the market close of May 31, 2022, according to the index provider MSCI announcement on Friday (May 13). 

MR DIY shares surged as much as 36 sen or 10.5% to RM3.79 in morning trade — also its highest so far this year — before paring gains to close at RM3.55. Still, it was up by 12 sen or 3.5%. At RM3.55, it had a market value of RM22.31 billion. 

Trading volume in MR DIY also swelled to 50.65 million shares, making it one of the top actively traded counters on Bursa Malaysia. 

Meanwhile, Westports emerged as the top loser on the local bourse on Friday after it dropped as much as 58 sen or 14.18% to RM3.51. At market close, the stock pared some of its losses and settled 20 sen or 4.89% lower at RM3.89, giving it a market capitalisation of RM13.27 billion.

F&N's share price soared at the eleventh hour, pushing it to close higher by 40 sen or 1.86% at RM21.92, after sinking to a low of RM20.40 in early morning trade. At RM21.92, it was valued at RM8.04 billion.

Esther Lee