Hutchison Port Holdings Trust sails out of the Straits Times Index

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.
Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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