MSCI Inc has decided to keep the status of South Korea and Taiwan as emerging markets, saying they will be ready to graduate when they have opened up their markets and relaxed currency controls. Both countries failed to pass the test in the past few years due to market access issues.

The index provider also delayed its decision until December on whether to upgrade the United Arab Emirates and Qatar to emerging-market status from their current frontier classification.

Qatar and the UAE have been under review for a promotion from their frontier market status for the past two years, but issues such as stringent foreign ownership limits and use of dual account structures have been delaying the move.

Latin American market were higher on Tuesday as investors bet on risky assets on hopes that Greece can avoid forced default of its sovereign debt. Major regional indices mostly rose while their currencies strengthened. Continue reading »

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