MSCI to downgrade Astor Enerji and Sabanci Holding, remove 18 Turkish stocks
MSCI•MSCI will move Astor Enerji and Sabanci Holding from its global standard index to its small-cap index and remove 18 Turkish stocks from the small-cap index, effective at the close of business on November 30.
1. Index changes
MSCI said it will downgrade Astor Enerji and Sabanci Holding from its global standard index to its small-cap index, while removing 18 other Turkish stocks from the small-cap index. The changes take effect at the close of business on November 30.
2. Market context
The changes follow MSCI’s October decision to freeze certain index changes. MSCI warned last month that if sufficient progress was not made by June 2027, it could potentially downgrade Turkey from emerging-market to frontier-market status. Turkey’s equity market has faced scrutiny over free-float calculations and suspected coordinated trading in some stocks; the market watchdog decided to liquidate 131 funds with more than $20 billion in assets.
