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>January saw S$17 million net institutional outflows in Singapore-listed Consumer Cyclical stocks, with MoneyMax, ValueMax, and Aspial Lifestyle drawing S$8.5 million inflows.</li><li>MoneyMax led with S$4.0 million inflow, 53% share price surge, and applied to transfer from Catalist to Mainboard.</li><li>ValueMax and Aspial Lifestyle recorded S$2.7 million and S$1.8 million inflows, with 18% and 30% price gains respectively.</li></ul>

January saw S$17 million net institutional outflows in Singapore-listed Consumer Cyclical stocks, with MoneyMax, ValueMax, and Aspial Lifestyle drawing S$8.5 million inflows.MoneyMax led with S$4.0 million inflow, 53% share price surge, and applied to transfer from Catalist to Mainboard.ValueMax and Aspial Lifestyle recorded S$2.7 million and S$1.8 million inflows, with 18% and 30% price gains respectively.

Trio of Gold‑Linked Financial Retailers Topped January Consumer‑Cyclical Inflows

Private Wealth Management and Asset Management., FPA Financial

FPA Financial

Private Wealth Management and Asset Management.

FPA Financial is an independent and boutique financial firm specializing in private wealth management and asset management.

Thematic (Sector/Industry)

<ul><li>Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers.</li><li>While global luxury demand has softened, the outlook for Singapore continues to stand out, underpinned by resilient tourism inflows and a rapidly expanding UHNW population.</li><li>Recent data also points to sustained strength in luxury consumption, with sales of watches and jewellery rising by 6.2% y-o-y in March, outperforming total retail sales growth of 4.8% y-o-y. </li></ul>

Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers.While global luxury demand has softened, the outlook for Singapore continues to stand out, underpinned by resilient tourism inflows and a rapidly expanding UHNW population.Recent data also points to sustained strength in luxury consumption, with sales of watches and jewellery rising by 6.2% y-o-y in March, outperforming total retail sales growth of 4.8% y-o-y. 

<ul><li>Over five sessions, directors reported 22 acquisitions and no disposals, while substantial shareholders recorded 28 acquisitions and five disposals.</li><li>Cortina Holdings completed a S$55 million share buyback, reducing issued shares excluding treasury shares to 152,332,142.</li><li>Chandra Asri Trading increased its stake in Hiap Seng Industries to 16.18% through a S$2.76 million off-market transaction.</li></ul>

Over five sessions, directors reported 22 acquisitions and no disposals, while substantial shareholders recorded 28 acquisitions and five disposals.Cortina Holdings completed a S$55 million share buyback, reducing issued shares excluding treasury shares to 152,332,142.Chandra Asri Trading increased its stake in Hiap Seng Industries to 16.18% through a S$2.76 million off-market transaction.

Cortina Completes 8% Buyback; Chandra Asri Adds to Hiap Seng Stake

<ul><li>Over five sessions, 60 director interests and substantial shareholdings were filed, including 23 acquisitions and two disposals by directors/CEOs.</li><li>Seatrium launched a new S$200 million Share Buyback Programme, funded from existing cash, doubling the previous programme.</li><li>Alan Goh of Katrina Group sold 12.6 million shares, reducing his interest to 76.7%, with BYD By 1826 acquiring 5%.</li></ul>

Over five sessions, 60 director interests and substantial shareholdings were filed, including 23 acquisitions and two disposals by directors/CEOs.Seatrium launched a new S$200 million Share Buyback Programme, funded from existing cash, doubling the previous programme.Alan Goh of Katrina Group sold 12.6 million shares, reducing his interest to 76.7%, with BYD By 1826 acquiring 5%.

Chairmen Build Stakes as Seatrium Doubles Buyback Programme

<ul><li>Over five sessions, 32 director/CEO acquisitions and 11 disposals were reported, with 27 companies conducting buybacks totaling S$37 million.</li><li>Aspial Lifestyle's Chairman acquired 1,331,200 shares, increasing direct interest to 9.95%, following a S$46.4 million acquisition.</li><li>iWOW Technology announced a proposed placement of 66.7 million shares at S$0.225 each, raising up to S$15 million.</li></ul>

Over five sessions, 32 director/CEO acquisitions and 11 disposals were reported, with 27 companies conducting buybacks totaling S$37 million.Aspial Lifestyle's Chairman acquired 1,331,200 shares, increasing direct interest to 9.95%, following a S$46.4 million acquisition.iWOW Technology announced a proposed placement of 66.7 million shares at S$0.225 each, raising up to S$15 million.

The Week of Insider Buying and Buyback Activity

Singapore

Aspial Lifestyle is a Singapore-based investment holding company primarily engaged in pawnbroking, money lending, and the retail and trading of jewellery and branded merchandise. The company offers jewellery under brands such as Lee Hwa Jewellery, Goldheart Jewelry, and Niessing, and provides pawnbroking services through Maxi-Cash and Dr. Pajak. It also has interests in secured lending and property rental. The company was incorporated in 2008 and is headquartered in Singapore.

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Aspial Lifestyle (ASPL SP)

Trio of Gold‑Linked Financial Retailers Topped January Consumer‑Cyclical Inflows

January saw S$17 million net institutional outflows in Singapore-listed Consumer Cyclical stocks, with MoneyMax, ValueMax, and Aspial Lifestyle...

Singapore Exchange Ltd (SGX)

Singapore Luxury Goods Market View

Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers. While global luxury demand...

FPA Financial

Cortina Completes 8% Buyback; Chandra Asri Adds to Hiap Seng Stake

Over five sessions, directors reported 22 acquisitions and no disposals, while substantial shareholders recorded 28 acquisitions and five...

Singapore Exchange Ltd (SGX)

Chairmen Build Stakes as Seatrium Doubles Buyback Programme

Over five sessions, 60 director interests and substantial shareholdings were filed, including 23 acquisitions and two disposals by...

Singapore Exchange Ltd (SGX)

The Week of Insider Buying and Buyback Activity

Over five sessions, 32 director/CEO acquisitions and 11 disposals were reported, with 27 companies conducting buybacks totaling S$37...

Singapore Exchange Ltd (SGX)

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