South Korea’s world-beating rally just tipped it into a bear market
MSCI kept South Korea classified as an emerging market last month, FT reported, citing the absence of a fully convertible offshore won market. An upgrade to developed status could attract about US$30bn from passive funds, BNP Paribas Securities estimates. But the country’s index weighting would drop sharply, from about 24 percent of MSCI’s emerging market benchmark to roughly 3 percent of…