SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Singtel (Singapore Telecommunications) / Equity Bottom-Up

<ul><li>Banks DBS, OCBC, and UOB, accounting for 54% of STI's weight, averaged 3.2% returns in January 2025.  </li><li>Institutions were net sellers of Singapore stocks, with a net outflow exceeding S$500 million in January 2025.  </li><li>Keppel Pacific Oak REIT led the S-REIT sector with a 17.1% return in USD terms in January 2025.</li></ul>

Banks DBS, OCBC, and UOB, accounting for 54% of STI's weight, averaged 3.2% returns in January 2025.  Institutions were net sellers of Singapore stocks, with a net outflow exceeding S$500 million in January 2025.  Keppel Pacific Oak REIT led the S-REIT sector with a 17.1% return in USD terms in January 2025.

STI Begins New Year with 1.8% Return, Led by Singtel & Seatrium

DFI Retail Group Holdings / Equity Bottom-Up

<ul><li>Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.</li><li>iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.</li><li>City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.</li></ul>

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.

New STI Highs Extends 2025 Total Return to 20%

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million.</li><li>Suntec REIT saw S$8.5 million net inflow, increasing its 2025 cumulative net inflows to S$53.7 million.</li><li>Keppel led share buybacks, purchasing 2.99 million shares at S$8.41 each, totaling S$55.8 million in consideration.</li></ul>

Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million.Suntec REIT saw S$8.5 million net inflow, increasing its 2025 cumulative net inflows to S$53.7 million.Keppel led share buybacks, purchasing 2.99 million shares at S$8.41 each, totaling S$55.8 million in consideration.

<ul><li>Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date.</li><li>19 companies conducted share buybacks totaling S$46 million; City Developments announced a 10% preference share buyback.</li><li>Directors and CEOs filed 13 acquisitions with no disposals; substantial shareholders filed 11 acquisitions and five disposals.</li></ul>

Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date.19 companies conducted share buybacks totaling S$46 million; City Developments announced a 10% preference share buyback.Directors and CEOs filed 13 acquisitions with no disposals; substantial shareholders filed 11 acquisitions and five disposals.

Frasers Centrepoint Trust / Equity Bottom-Up

<ul><li>Institutions net sold S$73M in Singapore stocks, with STI Banks experiencing S$701M in net institutional outflow in April.</li><li>Singtel recorded the highest net institutional inflow, with the Telecommunications Sector booking S$522M net inflow in April.</li><li>REITs saw S$74M net institutional outflow, but Frasers Centrepoint Trust led net inflow relative to market cap.</li></ul>

Institutions net sold S$73M in Singapore stocks, with STI Banks experiencing S$701M in net institutional outflow in April.Singtel recorded the highest net institutional inflow, with the Telecommunications Sector booking S$522M net inflow in April.REITs saw S$74M net institutional outflow, but Frasers Centrepoint Trust led net inflow relative to market cap.

Singapore Stocks Most Net Bought by Institutions in April

Singapore

Singapore Telecommunications Limited wireless telecommunication services. The Company offers diverse range of services including fixed, mobile, data, internet, TV,  and digital solutions. Singapore Telecommunications serves customers worldwide.

Singtel (Singapore Telecommunications) (ST SP)

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Singtel (Singapore Telecommunications) (ST SP)

STI Begins New Year with 1.8% Return, Led by Singtel & Seatrium

Banks DBS, OCBC, and UOB, accounting for 54% of STI's weight, averaged 3.2% returns in January 2025. Institutions were net sellers of Singapore...

Singapore Exchange Ltd (SGX)

New STI Highs Extends 2025 Total Return to 20%

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion. iFAST's UK-based...

Singapore Exchange Ltd (SGX)

IFS Capital Chairman and CEO Up Stakes

Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million. Suntec REIT saw S$8.5 million net...

Singapore Exchange Ltd (SGX)

Singapore Stocks Most Net Bought by Institutions in April

Institutions net sold S$73M in Singapore stocks, with STI Banks experiencing S$701M in net institutional outflow in April. Singtel recorded the...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

STI Begins New Year with 1.8% Return, Led by Singtel & Seatrium

Banks DBS, OCBC, and UOB, accounting for 54% of STI's weight, averaged 3.2% returns in January 2025. Institutions were net sellers of Singapore...

Singapore Exchange Ltd (SGX)

New STI Highs Extends 2025 Total Return to 20%

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion. iFAST's UK-based...

Singapore Exchange Ltd (SGX)

IFS Capital Chairman and CEO Up Stakes

Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million. Suntec REIT saw S$8.5 million net...

Singapore Exchange Ltd (SGX)

Ongoing Share Purchases by Dr Ng in Q&M

Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date. 19 companies conducted share...

Singapore Exchange Ltd (SGX)

Singapore Stocks Most Net Bought by Institutions in April

Institutions net sold S$73M in Singapore stocks, with STI Banks experiencing S$701M in net institutional outflow in April. Singtel recorded the...

Singapore Exchange Ltd (SGX)