MSCI Singapore Deletions Shave $613 Million Off Market Value
This article is for subscribers only.
Four Singaporean blue-chip stocks lost a combined market capitalization of S$863 million ($613 million) on Friday amid record volumes after MSCI Inc. deleted them from its benchmark for the city-state’s largest stocks.
Two of the four shares excluded from the MSCI Singapore Index -- Singapore Press Holdings Ltd. and Sembcorp Industries Ltd. -- became over-sold on a technical indicator Friday, while ComfortDelGro Corp. and SATS Ltd. traded close to that territory, according to data compiled by Bloomberg.