August 13, 2019 / 5:39 PM / 4 months ago

MSCI not looking to reclassify Argentina's ADRs

NEW YORK, Aug 13 (Reuters) - Index provider MSCI said on Tuesday it has not yet considered reclassifying the recently upgraded Argentina stock index out of emerging markets despite the massive spike in volatility and decline in prices.

“Accessibility of the market for foreign investors is the key factor here,” said Pavlo Taranenko, executive director of index research at MSCI, regarding Argentina’s standing.

MSCI Argentina, which was added to the widely followed emerging markets index in May, is composed of eight Argentine companies that trade on the New York Stock Exchange or Nasdaq. (Reporting by Rodrigo Campos; editing by Jonathan Oatis)

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