SINGAPORE (Sept 21): Monday marks the effective date of a rebalancing of the Straits Times Index in Singapore, after a regular review.

UOL Group, SATS and Yangzijiang Shipbuilding are added to the index, while Jardine Matheson, Jardine Strategic and Olam International are removed.

Although the changes have been largely priced in, the stocks could see some price movement as passive index funds switch allocation.

Indeed, as of early Monday morning, the three new stocks rise despite a broader index fall, while those that have been dropped are either flat or down.

UOL is up 0.83% at $6.07, SATS is up 1.6% at $3.86 while Yangzijiang is flat at 8 cents.

Jardine Matheson is down 0.5% at US$46.76, Jardine Strategic is flat at US$27.01 while Olam is down 0.5% at $2.03.