Straits Times Index
From Wikipedia, the free encyclopedia
The Straits Times Index (STI) is a market value-weighted stock market index based on the stocks of 50 representative companies listed on the Singapore Exchange.
Launched in the wake of a major sectoral re-classification of listed companies by the Singapore Exchange, which saw the removal of the "industrials" category, the STI replaced the Straits Times Industrials Index (STII), and began trading 1 September 1998 at 885.26 points, in continuation of where the STII left off. Then, it represented 78% of the average daily traded value over a 12-month period and 61.2% of total market capitalisation on the exchange.
Constructed by the Singapore Press Holdings, the Singapore Exchange and Professor Tse Yiu Kuen from the Singapore Management University, it comes under formal review at least once annually, and may also be reviewed on an ad-hoc basis when necessary. One such review, for instance, raised the number of stocks from 45 to 50, which took effect when trading resumed on 18 March 2005. This change reduced the index representation of the average daily traded value to 60%, while increasing its total market capitalisation to 75%.
New additions to be included after 5 Feb 2007 include Thai Beverage, Suntec REIT, Olam, Genting International, Labroy Marine and CapitaCommercial Trust. BIL, Dairy Farm, Haw Par Corporation and TPV Technology will be removed from the list. With these changes, the 50 stocks at STI will capture 51 percent of the average daily value traded on the Singapore Exchange (SGX) and 64% of the market value of stocks listed on SGX.
Contents |
[edit] List of index stocks
Weight factor of each stock is provided in brackets (last revised by Singapore Press Holdings on 1 February 2007):
[edit] Commerce
- Jardine Cycle and Carriage Limited (0.35)
- Jardine Matheson Holdings Limited (0.30)
- Jardine Strategic Holdings Limited (0.20)
- Noble Group Limited (0.30)
- Olam International (0.30)
[edit] Finance
- DBS Bank Group (0.70)
- Oversea-Chinese Banking Corporation (0.75)
- Singapore Exchange (1.00)
- United Overseas Bank (0.80)
[edit] Manufacturing
- Chartered Semiconductor Manufacturing (0.50)
- Creative Technology (0.70)
- Fraser and Neave Limited (0.70)
- Jurong Technologies Industrial Corporation Limited (0.25)
- People's Food Holdings Limited (0.55)
- SembCorp Marine Limited (0.35)
- Singapore Petroleum Company Limited (0.35)
- Singapore Press Holdings Limited (1.00)
- StatsChipPac (0.70)
- Thai Beverage (0.20)
- United Test and Assembly Center (0.75)
- Venture Corporation Limited (0.50)
- Want Want (0.30)
[edit] Multi-Industry
- Keppel Corporation Limited (0.70)
- SembCorp Industries Limited (0.45)
- ST Engineering (0.35)
[edit] Property
- Allgreen Properties Limited (0.45)
- CapitaLand Limited (0.35)
- City Developments Limited (0.50)
- Hongkong Land Holdings Limited (0.55)
- Keppel Land (0.45)
- United Overseas Land Limited (0.60)
- Wing Tai (0.50)
[edit] REIT
- Ascendas REIT (0.65)
- CapitaCommercial Trust (0.35)
- CapitaMall Trust (0.40)
- Suntec REIT (0.75)
[edit] Service
- Datacraft Asia Limited (0.45)
- Genting International (0.25)
- Hyflux Limited (0.45)
- Parkway Holdings (0.55)
[edit] Transport, Storage and Communications
- COSCO Corporation (Singapore) Limited (0.35)
- ComfortDelgro (0.80)
- Labroy Marine (0.35)
- MobileOne (0.40)
- Neptune Orient Lines (0.30)
- SembCorp Logistics Limited (0.30)
- Singapore Airlines (0.45)
- Singapore Post (0.60)
- Singapore Telecommunications (0.45)
- StarHub (0.35)
- Total Access Communications (0.15)
[edit] Index formula
The index is calculated by the formula:
Where
- It = Index
- PN = Summation over N stocks
- Pt = Price
- Qt = Number of shares issued
- Wt = Weight (dependent on free float, usually equals 1)
- Dt = Divisor
[edit] See also
[edit] External links
- Introduction to the STI
- List of STI component stocks by name from the Singapore Exchange website
