UPDATE 1-MSCI adds 22 stocks to Taiwan index, removes ProMOS
(Adds details, share price reaction)
TAIPEI, May 14 (Reuters) - Index compiler MSCI Barra on Thursday said DRAM chipmaker ProMOS (5387.TWO) will be dropped from its MSCI Taiwan Index .MSCITW, in a routine reshuffle that saw 22 others join the list.
Around 50 minutes into trade, ProMOS fell by its 7 percent daily maximum limit, while some of the shares that were added to the index climbed despite a 1.7 percent fall on the benchmark TAIEX share index.
Real estate developer Farglory (5522.TW) rose 4 percent, touch-panel maker Wintek (2384.TW) surged 7 percent, chip designer VIA Technologies (2388.TW) gained 4 percent, while laptop battery maker Simplo Technology (6121.TWO) climbed 1.5 percent, after being added into the list.
Investors closely watch such reshuffles, which take place every six months, as inclusion in an index can prompt buying in a stock by managed funds that track MSCI indexes.
The changes took place before the Taipei stock market opened on May 14. For details of the changes, click the MSCI Barra website: www.mscibarra.com
ADDED
* Capital Securities Corp (6005.TW)
* Chicony Electronics Co (2385.TW)
* Clevo Company (2362.TW)
* Coretronic Corporation (5371.TWO)
* CSBC Corp (2208.TW)
* Evergreen International (2607.TW)
* Farglory Developers Co (5522.TW)
* Formosa Int'l Hotels (2707.TW)
* Giant Manufacturing Co (9921.TW)
* Global Unichip Corp (3443.TW)
* Micro-Star International (2377.TW)
* Phison Electronics Corp (8299.TWO)
* Pixart Imaging (3227.TWO)
* Ruentex Industries (2915.TW)
* Simplo Technology Co (6121.TWO)
* Sincere Navigation (2605.TW)
* TSRC Corp (2103.TW)
* VIA Technologies (2388.TW)
* Winbond Electronics Corp (2344.TW)
* Wintek (2384.TW)
* WPG Holdings Co (3702.TW)
* Young Fast Optoelectronics (3622.TW)
DELETED
* ProMOS Technologies (5387.TWO)
(Reporting by Kelvin Soh; Editing by Chris Lewis)
