KUALA LUMPUR: Shares in BRITISH AMERICAN TOBACCO (M) BHD (BAT) extended its fall this morning following exclusion from the MSCI index.
The tobacco company fell 2.07%, or 24 sen to RM11.36, making it the top loser on Bursa Malaysia. It is currently trading at a PE ratio of 7.50 times.
BAT has been removed from the MSCI Global Standard Index, but will be included on the MSCI Global Small Cap Index effective Feb 28.
MSCI Inc said in a statement that Carlsberg Brewery (M) Bhdwill be added to the MSCI Global Standard Index, replacing BAT on the equity gauge after its February 2020 quarterly index review for the MSCI Equity Indexes.
Following its removal, BAT will be added to the MSCI Global Small Cap Index, said MSCI Inc, and that all changes will be implemented as of the close of Feb 28.