Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group (FTSE) announced today that Global Logistic Properties will replace SMRT Corp as a constituent of the Straits Times Index (STI) following the conclusion of its half-yearly review. SMRT Corp will join the FTSE ST Mid-Cap Index.
The STI reserve list, comprising the five highest ranking non-constituents of the STI in order of market capitalisation will be Yangzijiang Shipbuilding Holdings, Keppel Land, Cosco Corp Singapore, CapitaCommercial Trust and Ascendas Real Estate Investment Trust. Companies in the reserve list will replace any constituent that becomes ineligible as a result of corporate actions before the next review.
The STI is widely followed by investors as the benchmark for the Singapore stock market and is used as the basis of a range of financial products including Exchange Traded Funds (ETFs), futures, warrants and other derivatives. A full list of STI constituents can be found in Appendix 1.
Several constituent changes were also announced today for other FTSE ST Indices, including the FTSE ST Maritime and FTSE ST Catalist. For the FTSE ST China Top Index in particular, Keppel Land, Guocoland, Hi-P International and China Minzhong Food Corp will replace Raffles Education Group, Oceanus Group, China XLX Fertiliser and China Hongxing Sports. Details of all deletions and additions can be found under the Index Reviews section at www.ftse.com/st.
All changes from this review will take effect from the start of trading on 21 March 2011. The next review is scheduled for 8 September 2011.
The indices are reviewed half-yearly by the independent FTSE ST Index Advisory Committee in accordance with the index ground rules. 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 visitwww.ftse.com/st.