The title sounds like a conspiracy theory whereby there’s a supreme force shaping the world order. While it is a bold statement, the reality is not far from it.
Romance of the Three Kingdoms: S&P Dow Jones, MSCI and FTSE Russell
Indexes track a basket of securities with the purpose of reporting the overall performances. For example, there are over 700 stocks listed in Singapore and it is difficult to track every single one to get a feel whether the overall market is up or down. That’s where an index comes into play, using a set of rules (usually a mathematical formula), to determine what securities go inside the basket. The FTSE Straits Times Index (FTSE STI) decided that the top 30 stocks by traded market capitalisation would be the basket as they represent more than 50% of the entire size of the Singapore stock market. The component stocks will