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09-06-2013, 07:19 PM
(This post was last modified: 09-06-2013, 07:28 PM by CY09.)
Interesting thing about the STI components. No wonder STI has fallen so much few days, its because OCBC which contributes to 10% of the index (the largest component of STI) has fallen by 9%.
This also means STI's PE could be around 14 instead of 13 because OCBC has a one-off gain from its divestment of F&N and APB last FY.
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yeah I think the one time big boost is counted too
since if I were to bet on the index I would probably be buying the sti etf
all the info can be found on
http://www.spdrs.com.sg/etf/fund/fund_detail_STTF.html#
do note that they have some degree of tracking error
example the sti is now at 3184
in theory it should be trading at $3.19 or $3.20
however its nav is $3.23
meanings its holdings is not 100% identical to the index
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I guess doesn't really matter the different version of PE as long as they are not too far apart
(We can't have 8, 12 and 20 PE from different sources, can we?)
to me, it serves a guide on entry and exit points...
Not a exact science...
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Well, i am member of shareinvest.com, and the most-up-to-date numbers are
PE = 14.6 (number derived by Total Market Cap/Total Earnings of all companies in the index)
Rolling PE = 14.8 (base on last 4Q or 2HY data)
P/NAV = 1.5
Dividend Yield = 2.8%
IMO, the PE is around the long-term average of 15, neither too high nor too low.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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thanks for the info, I guess the sti is pretty fairly valued now at 15 times earnings, not too high nor too low