Embattled oil and gas stocks kicked out of MSCI Singapore index

Low oil prices are taking their toll.

A number of oil and gas stocks have tumbled out of the MSCI Singapore Index as the low oil prices continue to take their toll on the sector.

According to a report by Jefferies, these stocks include Rotary Engineering, Charisma Energy, Civmec, and Dyna Mac.

Ths stocks added include China Merchants, Keppel DC REIT, SIIC Environment and SPH REIT.

“The low prices are finally resulting in lower earnings for oil and gas companies. Vard Holdings and Rotary Engineering led oil and gas stocks lower as they reported weak first quarter earnings,” stated the report.

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