The Straits Times Index (abbreviation: STI) is a capitalisation-weighted measurement stock market index that is regarded as the benchmark index for the stock market in Singapore. It tracks the performance of the top 30 companies that are listed on the Singapore Exchange (SGX).
 Historical logarithmic graph of the STI from 1987 to 2019 | |
| Foundation | September 15, 1966 |
|---|---|
| Operator |
|
| Exchanges | Singapore Exchange |
| Constituents | 30 |
| Type | Large cap |
| Market cap | S$288.8 billion (as of June 2018)[1] |
| Weighting method | Capitalization-weighted |
| Website | FTSE STI |
The STI is jointly calculated by the SGX, the SPH Media Trust and the FTSE Group.[2]
History
editEarly years
editThe STI has a history dating back to its founding in 1966.[1] Following a major sectoral re-classification of listed companies by the Singapore Exchange, which saw the removal of the "industrials" category, the STI replaced the previous Straits Times Industrials Index (abbreviation: STII) and began trading on 31 August 1998 at 885.26 points, in continuation of where the STII left off. At the time, it represented 78% of the average daily traded value over a 12-month period and 61.2% of total market capitalisation on the exchange.[3]
The STI was constructed by SPH, the Singapore Exchange and SPH's consultant, Professor Tse Yiu Kuen from the Singapore Management University (formerly from the National University of Singapore). It came under formal review at least once annually and was also reviewed on an ad hoc basis when necessary.[3] One such review, for instance, raised the number of stocks from 45 to 50, which took effect when trading resumed on 18 March 2005. This change reduced the index representation of the average daily traded value to 60%, while increasing its total market capitalisation to 75%.[citation needed]
Revamp
editThe STI was again revamped and relaunched on 10 January 2008. As part of a new partnership between SPH, SGX and FTSE, the number of constituent stocks was reduced from about 50 to 30 and the index was re-calculated using FTSE's methodology.[4][5] Besides the STI, the partners also developed a family of indices including the FTSE ST Dividend Index, FTSE ST China Top tradable index, FTSE ST Catalist Index and FTSE ST Maritime Index as well as 19 Supersector and 39 Sector indices. For the purposes of computing the indices, stocks are classified using the Industry Classification Benchmark (ICB).
The family tree of the FTSE ST Index Series:[1]
- FTSE ST All-Share Index
- Straits Times Index
- FTSE ST Mid Cap Index
- FTSE ST Small Cap Index
- FTSE ST China Index
- FTSE ST China Top Index
- FTSE ST Maritime Index
- FTSE ST All-Share Industry Indices (10)
- FTSE ST All-Share Supersector Indices (19)
- FTSE ST All-Share Sector Indices (39)
- FTSE ST Real Estate Index
- FTSE ST Real Estate Investment & Services Index
- FTSE ST Real Estate Investment Trusts Index
- FTSE ST All-Share Supersector Indices (19)
- FTSE ST Fledgling Index
The creation of the FTSE ST Index Series was intended to facilitate the creation of financial products such as institutional and retail funds, exchange-traded funds (ETFs), derivatives contracts and other index-linked products.[6] There are currently two ETFs listed on the SGX that track the STI: the SPDR Straits Times Index ETF (formerly known as the streetTRACKS Straits Times Index Fund) (managed by State Street Global Advisors) and the Nikko AM's Singapore STI ETF.
Record values
edit| Category | All-Time Highs | |
|---|---|---|
| Closing | 3875.77 | Thursday, 11 October 2007[7][8] |
| Intraday | 3906.16 | Wednesday, 10 October 2007 |
Annual Returns
editThe following table shows the annual development of the Straits Times Index, which was calculated back to 1970.[9][10][11]
| Year | Closing level | Change in index in points |
Change in index in % |
|---|---|---|---|
| 1970 | 139.06 | ||
| 1971 | 198.69 | 59.63 | 42.88 |
| 1972 | 432.73 | 234.04 | 117.79 |
| 1973 | 265.57 | −167.16 | −38.63 |
| 1974 | 150.82 | −114.75 | −43.21 |
| 1975 | 236.76 | 85.94 | 56.98 |
| 1976 | 254.81 | 18.05 | 7.62 |
| 1977 | 264.24 | 9.43 | 3.70 |
| 1978 | 349.16 | 84.92 | 32.14 |
| 1979 | 435.41 | 86.25 | 24.70 |
| 1980 | 660.82 | 225.41 | 51.77 |
| 1981 | 780.78 | 119.96 | 18.15 |
| 1982 | 732.32 | −48.46 | −6.21 |
| 1983 | 1,002.03 | 269.71 | 36.83 |
| 1984 | 812.61 | −189.42 | −18.90 |
| 1985 | 620.04 | −192.57 | −23.70 |
| 1986 | 891.30 | 271.26 | 43.75 |
| 1987 | 823.58 | −67.72 | −7.60 |
| 1988 | 1,038.62 | 215.04 | 26.11 |
| 1989 | 1,481.33 | 442.71 | 42.62 |
| 1990 | 1,154.48 | −326.85 | −22.06 |
| 1991 | 1,490.70 | 336.22 | 29.12 |
| 1992 | 1,524.40 | 33.70 | 2.26 |
| 1993 | 2,425.68 | 901.28 | 59.12 |
| 1994 | 2,239.56 | −186.12 | −7.67 |
| 1995 | 2,266.54 | 26.98 | 1.20 |
| 1996 | 2,216.79 | −49.75 | −2.19 |
| 1997 | 1,529.84 | −686.95 | −30.99 |
| 1998 | 1,392.73 | −137.11 | −8.96 |
| 1999 | 2,479.58 | 1,086.85 | 78.04 |
| 2000 | 1,926.83 | −552.75 | −22.29 |
| 2001 | 1,623.60 | −303.23 | −15.74 |
| 2002 | 1,341.03 | −282.57 | −17.40 |
| 2003 | 1,764.52 | 423.49 | 31.58 |
| 2004 | 2,066.14 | 301.62 | 17.09 |
| 2005 | 2,347.34 | 281.20 | 13.61 |
| 2006 | 2,985.83 | 638.49 | 27.20 |
| 2007 | 3,482.30 | 496.47 | 16.63 |
| 2008 | 1,761.56 | −1,720.74 | −49.41 |
| 2009 | 2,897.62 | 1,136.06 | 64.49 |
| 2010 | 3,190.04 | 292.42 | 10.09 |
| 2011 | 2,646.35 | −543.69 | −17.04 |
| 2012 | 3,167.08 | 520.73 | 19.68 |
| 2013 | 3,167.43 | 0.35 | 0.01 |
| 2014 | 3,365.15 | 197.72 | 6.24 |
| 2015 | 2,882.73 | −482.42 | −14.34 |
| 2016 | 2,880.76 | −1.97 | −0.07 |
| 2017 | 3,402.92 | 522.16 | 18.13 |
| 2018 | 3,068.76 | −334.16 | −9.82 |
| 2019 | 3,222.83 | 154.07 | 5.02 |
| 2020 | 2,843.81 | −379.02 | −11.76 |
| 2021 | 3,123.68 | 279.87 | 9.84 |
| 2022 | 3,251.33 | 127.65 | 4.09 |
| 2023 | 3,240.27 | −11.06 | −0.34 |
Constituents
editThe 30 constituents of the STI as of 3 January 2022 are:
References
edit- ^ a b c d "Straits Times Index Factsheet". FTSE. Archived from the original (PDF) on 4 November 2016. Retrieved 31 March 2014.
- ^ "Straits Times Index constituents unchanged after March review". The Straits Times. Retrieved 16 February 2023.
- ^ a b "The STI Index". The Business Times. Archived from the original on 23 July 2011. Retrieved 28 February 2011.
- ^ "SPH, SGX and FTSE launch revamped Straits Times Index and new FTSE ST Index Series today". The Straits Times. 10 January 2008. Archived from the original on 13 November 2010. Retrieved 22 September 2019.
- ^ "Straits Times Index (STI)". The Straits Times. Archived from the original on 12 November 2010. Retrieved 28 February 2011.
- ^ "FTSE ST Index Series". FTSE. Archived from the original on 26 October 2009.
- ^ "Shares surge to a new high". Today. 12 October 2007. Retrieved 16 August 2019.
- ^ "STI closes 3.05% lower". Asiaone. 16 January 2008. Retrieved 16 August 2019.
- ^ Manual of Securities Statistics, Nomura Research Institute, Tokio 1997
- ^ "Historical data: Straits Times Index - Singapore (^STI)".
- ^ "STI Index (^STI?P=^STI) Historical Data - Yahoo Finance". finance.yahoo.com. Retrieved 21 January 2020.
External links
edit- Official website
- Reuters page for .FTSTI
- Bloomberg page for FSSTI:IND
- A detailed list of the STI index components with description of each company, logo and link to its website can be found on ASEAN UP Top 30 companies from Singapore’s STI
- Performance of STI index and its 30 components for the period of 1 week, 1 month, 3 months, YTD, 1 year, 3 years.