Singapore - A streamlined Singapore Stock market goes live on January 10 with the Straits Times Index (STI) composed of 30 blue-chip stocks instead of the current 47. It will replace the old benchmark on the same day another 18 new indexes of Britain's FTSE ST Index Series also goes live on the Singapore bourse.
Singapore Press Holdings, the Singapore Exchange (SGX) and Britain's FTSE group announced the starting date.
A test version of the new-look STI has been running on the FTSE Group's website since October 9, a joint statement said.
The opening values will be the same as their closing trial values on January 9.
The 30 stocks in the new STI were selected according to the FTSE Group's international method, including measuring a share's daily average trading volume over the past 12 months.
The STI will have a recreated history dating back to August 31, 1999 to facilitate historical analysis. The FTSE will make the information available on January 11.
The revamped STI and the new index series aim to stimulate the development of index-related products, giving investors greater choice, the statement said.
A wider range of indices also means more listed companies, which will boost visibility with international fund managers and investors, it noted.
