FTSE adds Pakistan, Egypt to watch lists for demotion

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FTSE adds Pakistan, Egypt to watch lists for demotion

On Thursday, global index provider FTSE Russell said it will add Pakistan and Egypt to watch lists for possible demotion in its equity index suites.

Pakistan's market capitalization will be evaluated at the close of Dec. 29, FTSE said.

Vietnam will remain on the list for a possible upgrade from 'frontier market' to'secondary emerging', the index provider said.

FTSE had this month announced Nigeria's reclassification from the frontier to unclassified, and the country dropped from equity indexes effective Sept. 18. The move was due to issues for international investors to repatriate capital, FTSE said.

FTSE said it will update the watch list status of Egypt, Pakistan, and Vietnam as part of its equity country classification scheduled for March 2024.