GLP to replace SMRT in STI from March 21

SINGAPORE - Global Logistic Properties, which owns warehouses in China and Japan, will replace subway operator SMRT Corp 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, Singapore Exchange and Britain's FTSE Group. -- REUTERS