MARKET watchers were divided after the MSCI Equity Indexes’ May 2024 quarterly review on Wednesday (May 15) saw the removal of five heavyweight counters from the MSCI Singapore Index.
The shares of the five Singapore stocks – Seatrium : 5E2 0%, City Developments : C09 0% (CDL), Jardine Cycle & Carriage : C07 0%, Mapletree Logistics Trust : M44U 0% (MLT), and Mapletree Pan Asia Commercial Trust : N2IU 0% (MPACT) – fell on news that they would be excluded from the index, effective May 31, 2024.
MSCI reviews its indexes to reflect moves in market value of constituents, among other factors.
