South Korea status upgrade by FTSE reflects advances in market opening
South Korea achieves developed status, while Taiwan remains advanced emerging market
South Korea's promotion to developed market status and the shifting of red-chip stocks from Hong Kong to China by index provider FTSE reflect several advances in the opening of those markets to foreign participants. The upgrades take effect from September next year. Meanwhile, Taiwan remains classified as an advanced emerging market, after it fell short in making the changes required by FTSE for promotion to developed status.
Significant changes in South Korea include the removal of some block
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