Saudi Arabia, Philippines to join JPMorgan emerging market bond index in 2027
The inclusion will cover Saudi riyal-denominated sovereign sukuk and Philippine peso-denominated government bonds
Add BT as a preferred source
本文由AI辅助翻译
[LONDON] JPMorgan said on Wednesday (Apr 22) that Saudi Arabia and the Philippines will be added to its local currency emerging market debt index from Jan 29 next year.
The inclusion will cover Saudi riyal-denominated sovereign sukuk and Philippine peso-denominated government bonds, both entering the widely tracked GBI-EM index series.
Their weights will be introduced gradually, with Saudi Arabia expected to reach 2.52 per cent and the Philippines 1.78 per cent once fully phased in.
The update is part of a broader index adjustment, which will lower the “Country Cap” – the maximum weight, or share, any single country can hold in the “diversified” index – to 9 per cent from 10 per cent.
As a result, major markets including China, India, Mexico, Malaysia, and Indonesia will see their weight reduced to the new limit.
Based on current eligibility criteria, about eight Saudi sovereign sukuk with a combined value of roughly US$69 billion could be included, JPMorgan said.
For the Philippines, nine eligible government bonds with a combined value of around US$49 billion are under consideration. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Asean must retain more value as its digital economy races towards US$2 trillion: Indonesian minister
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Could Ohmyhome face Nasdaq delisting after selling its core unit for US$1? Experts weigh in
