UOL, Yangzijiang, SATS to join STI from Sept 21
FROM Sept 21, UOL Group, Yangzijiang Shipbuilding and SATS will replace Jardine Matheson, Jardine Strategic and Olam International as constituents of the Straits Times Index (STI). This comes after the conclusion of the semi-annual review.
This was announced by Singapore Press Holdings, Singapore Exchange and FTSE Russell in a Thursday statement.
"In response to market demand, a recent market consultation showed strong support for the introduction of an enhanced liquidity rule for the STI beginning with this review," they said.
The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size) CapitaLand Commercial Trust, Singapore Post, Suntec Reit, Keppel Reit and M1.
Companies on the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review.
The STI is widely followed by investors as the benchmark for the Singapore market, and is used as the basis for a range of financial products including exchange traded funds, futures, warrants and other derivatives.
The next review is scheduled for Dec 3, 2015.
The indices are reviewed in June and December to fast-track the inclusion of eligible IPO stocks.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HSBC first-quarter profit drops 1.8%, beats estimates
Computer parts maker Logitech Q4 sales rise; first positive quarter in over two years
Barclays says it’s winning Asia banking business from US firms
China central bank wants to halt bond-buying spree, not join it
Gold holds steady as investors focus on US Fed meeting
Singapore shares open in the red on Tuesday; STI down 0.3%