The tier below emerging: smaller, less liquid markets such as Kenya or Vietnam. Fewer funds track them — but they are still inside the index system.
前沿市场
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | Indonesia stocks sink most in 28 years on MSCI downgrade warning 前沿市场 · 第 3 张术语卡 | Why it matters here ▸ MSCI is proposing to skip this tier entirely, so Indonesia would lose even the smaller pool of frontier money. 关键差别在「有没有接盘的钱」：降为前沿市场，还有前沿指数基金被动买入一部分；降为独立市场，连这部分也没有。所以花旗才说独立市场「明确地比前沿降级更糟」。 |