Singapore Press Holdings (SPH), Singapore Exchange Limited (SGX) and FTSE Group (FTSE) today welcomed IHH Healthcare as a constituent of the Straits Times Index (STI) following the conclusion of the half-yearly review.
IHH Healthcare replaces Neptune Orient Lines in the STI. The STI is the key benchmark for the Singapore stock market and is used as the basis of financial products including Exchange Traded Funds (ETFs), futures, warrants and other derivatives. STI constituents account for about 60% of stock market turnover[1] and 65% of full market capitalisation[2].
Following today’s review, the next five companies ranked highest on the same basis as the STI companies are (in order of market capitalisation) Hutchison Port Holdings Trust, Keppel Land, Ascendas Real Estate Investment Trust, UOL Group and Capitacommercial Trust. These five will be kept on the STI reserve list and will replace any STI constituents that become ineligible as a result of corporate actions before the next review. More information on the STI and its component companies can be found in Appendix 1 and also at www.sgx.com/sti and www.ftse.com/st.
Several changes were made to other indices in the FTSE ST Index Series including the FTSE ST Maritime and FTSE ST Catalist. In the FTSE ST China Top Index, CWT will replace China Minzhong Food Corporation. For details of all deletions and additions,please refer to www.sgx.com/sti or www.ftse.com/st where links to the relevant information are available.
The indices are currently reviewed half-yearly by the independent FTSE ST Index Advisory Committee in accordance with the index ground rules. In addition, new quarterly reviews of the indices, including the STI, will be introduced in June and December to fast-track the inclusion of eligible IPO stocks. The first quarterly IPO review will occur in December 2012.
All changes from today’s review are effective from the start of trading on 24 September 2012. The next half-yearly review is scheduled for 7 March 2013.
The FTSE ST methodology ensures the indices accurately represent the investable universe for benchmarking purposes and can be easily replicated as the basis of index-linked products.
For more information about the STI and FTSE ST Index Series including index ground rules, please refer to www.sgx.com/sti or www.ftse.com/st where links to the relevant information are available.
Appendix 1
STI Constituents
CapitaLand Ltd | Keppel Corp Ltd |
CapitaMall Trust | Noble Group Ltd |
CapitaMalls Asia Ltd | Olam International Ltd |
City Developments Ltd | Oversea-Chinese Banking Corp Ltd |
ComfortDelgro Corp Ltd | SembCorp Industries Ltd |
DBS Group Holdings Ltd | SembCorp Marine Ltd |
Fraser and Neave Ltd | SIA Engineering Co Ltd |
Genting Singapore PLC | Singapore Airlines Ltd |
Global Logistic Properties Ltd | Singapore Exchange Ltd |
Golden Agri-Resources Ltd | Singapore Press Holdings Ltd |
Hongkong Land Holdings Ltd | Singapore Technologies Engineering Ltd |
IHH Healthcare Berhad | Singapore Telecommunications Ltd |
Jardine Cycle & Carriage Ltd | Starhub Ltd |
Jardine Matheson Holdings Ltd | United Overseas Bank Ltd |
Jardine Strategic Holdings Ltd | Wilmar International Ltd |
[1] Source: Singapore Exchange, data as at 13 September 2012 market close
[2] Source: Singapore Exchange, data as at 13 September 2012 market close