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

<ul><li>Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion.</li><li>Industrials led net institutional inflows, driven by Keppel, Yangzijiang Shipbuilding, and Seatrium, while REITs saw the largest net outflows.</li><li>mDR's average daily trading turnover increased significantly in July, narrowing its 5-day average bid-ask spread to 150 bps.</li></ul>

Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion.Industrials led net institutional inflows, driven by Keppel, Yangzijiang Shipbuilding, and Seatrium, while REITs saw the largest net outflows.mDR's average daily trading turnover increased significantly in July, narrowing its 5-day average bid-ask spread to 150 bps.

FTSE ST Industrials Outpaces STI in July with a 13.2% Gain

Singapore Telecommunications / Equity Bottom-Up

<ul><li>Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional outflow, reducing total net inflows from the 20 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 26, to S$1.165 billion.</li><li>Leading the net institutional outflow over the five sessions through to Sep 26 were Singapore Telecommunications, Yangzijiang Shipbuilding Holdings, CapitaLand Investment, Singapore Exchange, Mapletree Logistics Trust, Capitaland Ascendas REIT, City Developments, Jardine Cycle & Carriage, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.</li><li>Between Sep 24 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.15 million shares at S$0.89 per share.</li></ul>

Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional outflow, reducing total net inflows from the 20 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 26, to S$1.165 billion.Leading the net institutional outflow over the five sessions through to Sep 26 were Singapore Telecommunications, Yangzijiang Shipbuilding Holdings, CapitaLand Investment, Singapore Exchange, Mapletree Logistics Trust, Capitaland Ascendas REIT, City Developments, Jardine Cycle & Carriage, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.Between Sep 24 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.15 million shares at S$0.89 per share.

Raffles Medical executive chairman expands interest; First REIT independent director cashes in

<ul><li>Singapore stocks have booked net retail inflow of S$1.01 billion in the 2024 year to 13 June, comprised of S$959 million in 1Q24 and S$50 million in 2Q24.</li><li>While the 2Q24 net inflow looks to have slowed considerably, S$597 million of net retail outflow in the trio of Banks has offset S$646 million of net retail inflow to other Singapore stocks.</li><li>As noted above, coinciding with price gains, UOB booked the most net selling by retail investors in the 2Q24 (to 13 June) at S$366 million, which followed S$10 million of net retail buying in 1Q24.</li></ul>

Singapore stocks have booked net retail inflow of S$1.01 billion in the 2024 year to 13 June, comprised of S$959 million in 1Q24 and S$50 million in 2Q24.While the 2Q24 net inflow looks to have slowed considerably, S$597 million of net retail outflow in the trio of Banks has offset S$646 million of net retail inflow to other Singapore stocks.As noted above, coinciding with price gains, UOB booked the most net selling by retail investors in the 2Q24 (to 13 June) at S$366 million, which followed S$10 million of net retail buying in 1Q24.

Recent Net Retail Flow in Singapore Stocks

<ul><li>Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional outflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$55.8 million.</li><li>Leading the net institutional outflow over the five sessions were City Developments Ltd, Seatrium, Mapletree Logistics Trust, Mapletree Pan Asia Commercial Trust, Genting Singapore , Jardine Cycle & Carriage, NetLink NBN Trust, Golden Agri-Resources, Venture Corporation and Raffles Medical Group.</li><li>With a consideration of S$315,000, this increased his total interest in the regional premium real estate group from 74.86 to 74.97 per cent.</li></ul>

Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional outflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$55.8 million.Leading the net institutional outflow over the five sessions were City Developments Ltd, Seatrium, Mapletree Logistics Trust, Mapletree Pan Asia Commercial Trust, Genting Singapore , Jardine Cycle & Carriage, NetLink NBN Trust, Golden Agri-Resources, Venture Corporation and Raffles Medical Group.With a consideration of S$315,000, this increased his total interest in the regional premium real estate group from 74.86 to 74.97 per cent.

Real estate directors building up their company stakes

<ul><li>On 27 May, the STI closed at 3,318.45, its highest close since August 2023.</li><li>STI stocks within the Real Estate Management and Development sector - Hongkong Land, City Developments and UOL Group - all booked net institutional inflow while averaging 7.1% total returns.</li><li>10 Real Estate (Ex-REITs) stocks that booked most net institutional inflow since 16 April Code Mkt Cap S$M YTD ADT S$M YTD NIF S$M YTD TR % 17 April - 27 May NIF / Mkt Cap 16 April - 27 May TR % Sector.</li></ul>

On 27 May, the STI closed at 3,318.45, its highest close since August 2023.STI stocks within the Real Estate Management and Development sector - Hongkong Land, City Developments and UOL Group - all booked net institutional inflow while averaging 7.1% total returns.10 Real Estate (Ex-REITs) stocks that booked most net institutional inflow since 16 April Code Mkt Cap S$M YTD ADT S$M YTD NIF S$M YTD TR % 17 April - 27 May NIF / Mkt Cap 16 April - 27 May TR % Sector.

STI Gains 7% over Six Weeks on Net Institutional Inflow

Singapore

City Developments Limited (CDL) is a Singaporean multinational real estate operating company. It develops, owns, and manages a diversified portfolio of residential, commercial, and hospitality properties, including offices, hotels, serviced apartments, shopping malls, and integrated developments. CDL was founded on September 7, 1963, and is headquartered in Singapore.

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City Developments (CIT SP)

FTSE ST Industrials Outpaces STI in July with a 13.2% Gain

Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion. Industrials led net...

Singapore Exchange Ltd (SGX)

Raffles Medical executive chairman expands interest; First REIT independent director cashes in

Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional...

Singapore Exchange Ltd (SGX)

Recent Net Retail Flow in Singapore Stocks

Singapore stocks have booked net retail inflow of S$1.01 billion in the 2024 year to 13 June, comprised of S$959 million in 1Q24 and S$50 million...

Singapore Exchange Ltd (SGX)

Real estate directors building up their company stakes

Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional...

Singapore Exchange Ltd (SGX)

STI Gains 7% over Six Weeks on Net Institutional Inflow

On 27 May, the STI closed at 3,318.45, its highest close since August 2023. STI stocks within the Real Estate Management and Development sector -...

Singapore Exchange Ltd (SGX)

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