SINGAPORE - The Straits Times Index (STI), a benchmark for the Singapore market, will see some changes to its constituents following a semi-annual review, announced Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Russell in a joint release on Thursday.

Two counters under the Jardine group - Jardine Matheson Holdings and Jardine Strategic Holdings - as well as Olam International will be taken off as constituents of the index, with effect from Sept 21.

They will be replaced by UOL Group, Yangzijiang Shipbuilding Holdings and Sats.

The new list takes into account the tigher liquidity rules for the STI, announced earlier in May, where component stocks are to have a trading volume that is at least 0.1 per cent of their issued shares.

The STI reserve list, which comprises the five highest ranking non-constituents of the STI by market capitalisation, will include CapitaLand Commercial Trust, Singapore Post, Suntec Real Estate Investment Trust (Reit), Keppel Reit and M1.

Companies on the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review, scheduled for Dec 3.