Morgan Stanley Capital International (MSCI) said Tuesday it has added 11 Taiwanese companies to its MSCI Taiwan Index after its quarterly index review. After the adjustments, the number of MSCI Taiwan Index constituents rose to 118 from the previous 107, while no stock that had been on the index before the review was removed. The 11 new constituents include computer and electronic component maker Pegatron Corp., memory chip firm Powerchip Technology Corp., KGI Securities Co., solar cell maker Simplo Technology Co., electronic paper display producer E Ink Holdings, solar cell manufacturer Motek Industries Inc., and LCD display maker Coretronic Corp. The others are module maker Phison Electronics Corp., IC designer PixArt Imaging Inc., online gaming provider Chinese Gamer International Corp. and contract microchip maker Vanguard International Semiconductor Co. 'The change went beyond market expectations, ' Concord Securities analyst Allen Lin said. 'The market had expected MSCI would add old economy stocks into the index as that sector will benefit from the signing of a major trade pact across the Taiwan Strait,' Lin said. Taiwan and China signed an economic cooperation framework agreement in late June, granting preferential tariff status or market access to a total of 539 Taiwanese products or services exported to China. Most of the items belong to the non-high tech sector. 'MSCI still paid a lot of attention to the local electronics sector, which is the backbone of Taiwan's exports,' Lin said. According to MSCI, information technology stocks account for 58.56 percent of the Taiwan index, followed by financials with a 15.70 percent share, materials with a 12.19 percent share, and telecommunications services with a 4.34 percent share. Currently, the top five in the Taiwan index weighting are Taiwan Semiconductor Manufacturing Co., Hon Hai Precision Industry Co., HTC Corp., MediaTek Inc. and Cathay Financial Holdings Co. 