Global Logistic Properties (GLPL.SI), which owns warehouses in China and Japan, will replace subway operator SMRT Corp (SMRT.SI) as a constituent of Singapore’s Straits Times Index (STI) following a half-yearly review, the index managers said on Thursday.
Inclusion in a benchmark index is often positive for companies as it attracts investments from fund managers as well as investors who track markets via exchange-traded funds.
The 30-member STI, Singapore’s most widely followed index, is managed by Singapore Press Holdings (SPRM.SI), Singapore Exchange (SGXL.SI) and Britain’s FTSE Group.
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