Sumary of Index for global travel, aviation stocks launched:
- The Singapore Exchange and Changi Airports International (CAI) have launched the iEdge-GateEq Aviation and Travel Index, a market capitalisation-weighted index which covers the top 50 listed companies in the global travel and aviation industry.
- The top 10 constituents of the index are UPS, Booking Holdings, Airbus, FedEx, Deutsche Post, Safran, Airbnb, Marriott International, Southwest Airlines and Hilton Worldwide.
- SGX will review the index constituents on a quarterly basis.
- The tradeable index aims to capture global aviation and travel-related long-term growth.
- They noted that the index reached pre-Covid-19 levels last month, driven by a rally in hospitality, travel and booking-related stocks.
- SGX developed the index as part of its iEdge product suite in a first-of-its-kind collaboration with GateEq, a CAI strategic initiative.