FTSE adds Pakistan, Egypt to watch lists for demotion

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FTSE adds Pakistan, Egypt to watch lists for demotion

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

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

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

FTSE had announced this month that Nigeria had been reclassified from the frontier to unclassified and the country dropped from its equity indexes effective Sept. 18, effective Sept. 18. The move, FTSE said, was due to concerns for international investors to repatriate capital.

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