Straits Times Index: CapitaLand Commercial Trust in, Noble Group out

SINGAPORE - Noble Group will drop out of the Straits Times Index after the latest review of the benchmark index.

CapitaLand Commercial Trust will take its place with the changes taking effect on March 21, said FTSE Russell, which compiles indexes across major asset classes.

The changes take effect at the start of business on Mar 21, and the next review will be on June 2.

The STI reserve list now comprises of the five highest ranking non-constituents of the STI by market capitalisation, will be: Suntec Real Estate Investment Trust (Reit), Neptune Orient Lines, First Resources, Singapore Post and Keppel Reit.

Firms on the reserve list will replace any firm that becomes ineligible owing to corporate actions, before the next review.

FTSE has partnered Singapore Press Holdings (SPH), publisher of The Straits Times, and Singapore Exchange (SGX), to calculate the Singapore stock market's main benchmark.

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 (ETFs), futures, warrants and other derivatives. FTSE is the index administrator.

rachaelb@sph.com.sg