Israel’s investment classification upgraded


JERUSALEM (JTA) — Israel’s classification for investment will be changed from emerging to developed, which will boost Israeli stocks.

Morgan Stanley Capital International, which provides institutional investors with a popular global stock, bond and fund benchmark indexes, announced the upgrade Tuesday. The change will take effect next May.

The change could bring $2.8 billion into the stock market in Israel, as funds that are only allowed to invest in developed markets turn to Israeli stocks, according to Merrill Lynch, Forbes reported.

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