The Philippines and Saudi Arabia to join JPMorgan Emerging Market Local Bond Index

Gloria Kim, Global Head of Index Research at the bank, stated in a report that the inclusion process will be carried out in phases, with the expected final weights for the Philippines and Saudi Arabia at 1.78% and 2.52% respectively. Meanwhile, China, India, Mexico, Malaysia, and Indonesia will see the largest reductions in their weights, with their caps lowered from the previous 10% to a new 9%. The report noted that, considering current market conditions, this inclusion schedule helps avoid short-term implementation risks for benchmark investors.