Singapore, Malaysia Indexes Face Temporary FTSE Disruption

(Bloomberg) -- Real-time values of Singapore and Malaysia’s market benchmarks were temporarily disrupted on Thursday due to technical glitches at index provider FTSE Russell.

The issue became apparent when Singapore’s benchmark Straits Times Index was largely unchanged in the first hour of trading, despite DBS Group Holdings Ltd. tumbling as much as 3 percent after reporting earnings that missed analysts’ estimates. DBS, Southeast Asia’s largest lender, has the biggest weight in the Singapore index at 16 percent.

The equities benchmark started reflecting the right prices around 10 a.m., said Joel Ng, head of research at KGI Securities (Singapore) Pte.

“FTSE has confirmed that all real-time values related to their indexes are now updating accurately,” Singapore Exchange Ltd., which operates the city’s stock and derivatives market, said in a statement. “The matter has been resolved.”

The FTSE Bursa Malaysia KLCI Index was also disrupted due to “a technical disruption at FTSE’s end,” the Malaysian bourse said. The issue was resolved as of 9:52 a.m. local time, Bursa Malaysia said.

A spokesperson for FTSE Russell, a unit of London Stock Exchange Group Plc, said it was aware real-time values had been temporarily unavailable for the FTSE Straits Times Index Series, FTSE Bursa Malaysia Index Series, and FTSE A50, but the issue was fully resolved. “We are working with third-party technology partners to establish the root cause,” the spokesperson said.

©2018 Bloomberg L.P.