Top Glove will reportedly be removed from the constituent stocks of the MSCI Global Standard Index which will come into effect at the end of this month.
The data from MSCI revealed that only one company, Top Glove, was removed from the review, but no new companies were added to the index.
MSCI's quarterly index adjustments will take effect after the market closes on August 31.
Following the removal, there are still 32 Malaysian companies on the list.
The glove-making giant traded down 3 sen to 83.5 sen during the afternoon trading session, with a market capitalization of RM6.82 billion.
Globally, 61 companies were added to the list, while 46 companies were kicked out of the MSCI World Index (ACWI).
An MSCI index series refers to a number of stock prices compiled by Morgan Stanley Capital International (MSCI), which can be used as a fund valuation benchmark.
Many fund managers or index funds will directly use the stock-related index components for trading targets, so when there is an adjustment or change, it will have a big impact on the market.
