Stock Market On-The-Move
Straits Times Index + Dow Jones (US)
5 years Historical Trading Chart - Index - Volume.
The STI is owned and published by Singapore Press Holding Limited (SPH), who has granted to SPH Data Services Pte Ltd (SPHDS), its wholly owned subsidiary, the right to license the use of the STI to third parties. The STI is a market capitalisation-weighted index of 55 stocks listed on Singapore Exchange Securities Trading Limited (SGX-ST), representing some 60% of the total market capitalisation and total market turnover of SGX-ST. The STI, which replaced the price-weighted Straits Times Industrials Index ("STII") on 31 August 1998, is the most widely followed benchmark of the Singapore stock market.
As of 2000, the 55 stocks in the STI, six are US dollar stocks and six are Sesdaq stocks. The remainder are Singapore dollar mainboard stocks. As the STI is value-weighted, the influence of large-cap stocks in the index will be moderated by their free float percentages as from 2000. This was applied to the following 11 stocks, whose market capitalisation exceeded S$5 billion as at end-July: Singapore Telecom, DBS Bank, Singapore Airlines, Overseas Chinese Banking Corporation, United Overseas Bank, Singapore Press Holdings, City Developments, Jardine Matheson Holdings, Overseas Union Bank, Hongkong Land and ST Engineering.
SPHDS will conduct its annual review of the STI, with a view to ensuring that the 55-stock index continues to reflect daily trading activity on the Stock Exchange of Singapore. For example in 1999, they announced the following changes to the STI, which will take effect from the start of trading on Monday, August 30th 1999:
- Two components stocks, Ingram Micro Asia (formerly Electronic Resources) and Rothmans Industries, have been removed from the STI given their imminent delisting from the SES.
- In addition, eight other stocks will be replaced: Avimo Group, FHTK Holdings, Freight Links, Hong Leong Finance, L&M Group Investments, Overseas Union Enterprises (OUE), Robinson & Company and Singapore Petroleum Company (SPC).
- The following stocks will be their replacements: Amara Holdings, Brilliant Manufacturing, Dairy Farm International Holdings, Datacraft Asia, Datapulse Technology, Econ International, GES International, Hotung Investment Holdings, JIT Holdings and Serial System.