The KINDEX Russia MSCI (synthetic) ETF, the only Russian exchange-traded fund (ETF) with Russian stocks as an underlying asset, is recording a lower price on the 4th due to concerns about trading suspension and delisting.
As of 9:59 am on the 4th, KINDEX Russia MSCI (synthetic) ETF is recording 1070 won, down 29.97% (4310 won) from the previous trading day.
KINDEX Russia MSCI (synthetic) ETF is a product that invests in stocks listed on the Russian Exchange in the index calculated by Morgan Stanley Capital International (MSCI).
MSCI announced on the 2nd (local time) that it would remove Russia from the Emerging Markets Index and reclassify it as a standalone country after the market close on the 9th.
Accordingly, on the 3rd, Korea Investment Trust Management said, “The MSCI side will apply a price of 0.00001 to Russian stocks in all indices from the closing price on the 9th for the KINDEX Russia MSCI (synthetic) ETF.” “The asset value may drop very significantly or delisting may proceed,” he explained.
In overseas markets, ETFs related to Russia are being delisted. Direxion, an asset management company that manages leveraged ETFs, recently announced the IPO of the ‘Direction Daily Russia 2x’ ETF, a leveraged ETF related to Russia.
“The US and other countries have imposed restrictions on Russian securities due to Russian sanctions,” a Direction official said.
- reporter information
- Jihoon Moon
- jhmoon@ajunews.com
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