Riyadh – Mubasher: The MSCI Emerging Markets (EM) Index’s semi‐annual review added three Saudi companies to the small- and medium-sized companies index, namely Al Rajhi, Al Yamamah Steel Industries Co, and Alujain Corp, while removing Abdullah Al Othaim Markets.

The new modifications will be applied on the indices starting June, according to a statement from Morgan Stanley on Tuesday.

Companies are evaluated for the indices according to the amount of trading on the stock allowed for foreigners and the trading volume on the companies' shares.

In January, Khalid Al-Hussan, chief executive officer of the Saudi Stock Exchange (Tadawul), said that he hopes the application of the new transactions settlement tool will help in adding the Saudi market in the MSCI EM Index.

Tadawul announced on 23 April the implementation of a time range to settle the listed securities transactions, specifically two working days, in line with the settlement tools being applied in most of the global securities markets.