The share price of Kasikornbank Public Company Limited (KBANK) fell ฿3.00/share or 2.45% to close the morning session on June 2, 2021, at ฿119.50/share with a trading value of 4,464 million baht.
The selling pressure in KBANK came this morning after MSCI Global Standard Indexes suddenly deleted KBANK from the index.
Earlier in May, MSCI Global Standard Indexes also deleted Kasikornbank FGN (traded in Frankfurt, Germany) from the index as well.
Capital Nomura Securities (CNS) stated that the deletion due to the limit of NVDR at 25% is reaching its cap, which will result in an outflow around 55 million dollars. The deletion will take effect on June 7, 2021.
Nevertheless, CNS added that the deletion did not have a direct impact on KBANK fundamentals and expected the decline in share price could be the opportunity to accumulate.