FTSE drops 4 firms from ASEAN value stocks index

City Development and UOL were amongst the dropouts.

City Developments, UOL Group, Mapletree Industrial Trust and Bukit Sembawang Estates were removed from the FTSE Value-Stocks ASEAN Index, whilst Singapore Airlines, ComfortDelGro Corp and CDL Hospitality Trusts were added, according to an SGX report.

This follows after FTSE Russell's semi-annual review of the FTSE Value-Stocks ASEAN Index on 11 October. The said changes took effect last 21 October. It now brings the number of SGX-listed constituents of the index to 11.

These 11 stocks averaged a YTD total return of 9.4%, which brought its one-year and three-year average returns to 34.1% and 34.2%, respectively. These also have a combined market capitalisation of over $250b.

Furthermore, the five best performing stocks amongst the 11 firms posted an average total return of 18.8% YTD, bringing their three-year and five-year total returns to 36.3% and 45%, respectively.

Manulife US REIT leads the pack with a YTD total return of 30.6%, followed by CDL Hospitality Trusts at 18.1%, ComfortDelGro at 17.8%, Singtel at 14.2% and Venture Corp at 13%.

The FTSE Value-Stocks ASEAN Index consists of approximately 50 value stocks amongst the most liquid and tradable companies listed on the Singapore Exchange, Indonesia Stock Exchange, Bursa Malaysia, Philippine Stock Exchange, and the Stock Exchange of Thailand.