Two Singapore-listed real estate stocks have been included in the global indices.
Replacing the US-based ProLogis, Hongkong Land Holdings is now part of the Dow Jones Real Estate Titans 30 Index, while Sabana REIT has been included in the Morgan Stanley Capital International (MSCI) Global Small-Cap Indices.
Market analysts noted that being part of the global index could strengthen the stock profile among global investors.
First calculated in June 2008, the Dow Jones Real Estate Titans 30 Index has 30 stocks worldwide, chosen based on rankings by float-adjusted market capitalisation, net profit and revenue.
Other Asian companies included in the same index are Japan’s Mitsubishi Estate Co and Hong Kong-listed Sun Hung Kai Properties, as well as Cheung Kong (Holdings).
Meanwhile, Sabana REIT, a Syariah-compliant industrial real estate investment trust (REIT), has been selected as one of the MSCI Global Small-Cap Indices constituent stocks.
“The inclusion puts Sabana REIT onto the radar screens of a much wider group of institutional investors and funds seeking value and performance from markets round the world,” said Kevin Xayaraj, Chief Executive of the Trust’s Manager.
MSCI’s market capitalisation-weighted indices provide the basis for more than 400 exchange traded funds worldwide. MSCI performs its index reviews four times annually and the latest changes were imposed at the close of the market on 31 May.
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