AsiaGreater ChinaPorts and Logistics
Hutchison Port Holdings Trust sails out of the Straits Times Index
Hutchison Port Holdings Trust is to be booted from Singapore’s Straits Times Index after its market value slumped dramatically.
One of the biggest IPOs in Singapore back in 2011, the south China boxport offering has seen its market cap slide 84% since then to become the lowest among the 30 constituents of the Straits Times Index.
Removal from the index “could result in further selling pressure as HPHT is increasingly being viewed as a proxy to the US-China trade tensions,” OCBC analyst Chu Peng wrote in a note to clients.