Many traders and investors do not realize how important the Singapore stock markets are these days. Lately, the Nikkei 225 Index (Japan) has been dominating the headlines as that index makes new 52 week highs on a daily basis. The Shanghai Index (China) also receives a lot of attention by investors as China has become a manufacturing powerhouse over the past 10 years. What most people do not realize is that the Singapore markets are also extremely important and should be followed.
1. Singapore has become a major financial hub in Asia. Many hedge funds and other large financial institutions are now based in Singapore. There are also many wealthy individuals such as famed investor Jim Rogers and others have relocated to the area. In 2011, Facebook co-founder Eduardo Saverin renounced his U.S. citizenship. This move saved him hundreds of millions of dollars in taxes from the Facebook initial public offering. After all, Singapore does not have a capital gains tax, this makes the country very attractive for wealthy individuals.
2. The FTSE Straits Times Index (STI) is a capitalization-weighted stock market index that is regarded as the benchmark index for the Singapore stock market. It tracks the performance of the top 30 companies listed on the Singapore Exchange. Below is a list of the 30 stocks in the Straits Times Index.
|Capitaland Ltd||Keppel Corporation Ltd|
|CapitaMall Trust||Noble Group Ltd|
|CapitaMalls Asia Ltd||Olam International Ltd|
|City Developments Ltd||Oversea-Chinese Banking Corporation Ltd|
|Comfortdelgro Corporation Ltd||Sembcorp Industries Ltd|
|DBS Group Holdings Ltd||Sembcorp Marine Ltd|
|Singapore PLC||SIA Engineering Co Ltd|
|Global Logistic Properties Ltd||Singapore Airlines Ltd|
|Golden Agri-Resources Ltd||Singapore Exchange Ltd|
|Hongkong Land Holdings Ltd||Singapore Press Holdings Ltd|
|Port Holdings Trust||Technologies Engineering Ltd|
|Jardine Cycle & Carriage Ltd||Singapore Telecommunications Ltd|
|Jardine Matheson Holdings Ltd||StarHub Ltd|
|Jardine Strategic Holdings Ltd||Thai Beverage PCL|
|United Overseas Bank Ltd||Wilmar International Ltd|