TSMC becomes first Taiwan individual stock added to Global Islamic Indexes

Taiwan’s semiconductor manufacturing giant expects more business opportunities from Middle East

Taiwan News
Date: 2020/02/14
By: Ching-Tse Cheng, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Company (TSMC) became the first individual stock in the country to be listed in the Global Islamic Indexes of American finance company Morgan Stanley Capital International (MSCI) on Thursday (Feb. 13).

According to the latest quarterly index review released by MSCI, Taiwanese stocks suffered a slight fall in both the Developed Markets Indexes and the AC Far East ex Japan index. However, TSMC was included for the first time in the Islamic index series, which is designed to measure the performance of developed countries' large and mid CAP (China, Asia, Pacific) segments relevant for Islamic investors.

To be considered for the Global Islamic Indexes, companies cannot earn more than 5 percent of their gross income from business categories prohibited by the Islamic world, including alcoholic beverages, tobacco, pork, adult entertainment, and military weapons. According to Yahoo News, there are currently 787 companies that have been approved in the Islamic Indexes.    [FULL  STORY]

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