"MSCI Rebalancing" has already been a buzzword with local investors. Certain stocks move as based on the increase/decrease of its weight, more so with the case of inclusion/exclusion as a constituent of an MSCI index.
The announcement (w/c includes the list of concerned stocks) has been announced early August; however, the actual Rebalancing happened on August 29. Take a look on the Total Turnover Value of the Philippine market during that time.
|Philippine Market Activity|
More importantly, it is good to note that Foreign buying is still dominant, which means market rise as shown through the PSE index is still being supported at this point.