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

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The FTSE ST China Index generated a 7.1% gain last week, following a 7.4% total return in 2020. The Index is comprised of the 17 stocks of the FTSE ST All-Share Index with more than 50% revenue exposure/assets associated with China operations. 
	 </li>
	<li>
The newest entrant to the FTSE ST China Index is Nanofilm Technologies International which began 2021 with a 12% gain taking its gains since listing to 91%. Nanofilm’s prospectus detailed that two-thirds of its FY19 revenue was generated from invoices issued by its China operations. 
	 </li>
	<li>
Nanofilm Technologies was also the strongest performer of 17 stocks in 2020, followed by a 34% gain for Hi-P International and a 30% gain for Sunpower Group. On 31 Dec, Sunpower International entered into a SPA to divest the Manufacturing &amp; Services business to Nanjing Sunpower Holdings, enabling a strategic focus on its Green Investments. 
	 </li>
</ul>
 The FTSE ST China Index has gained 7.1% over the week 2021, adding to its 7.4% total return in 2020. The Index is comprised of 17 stocks of the FTSE ST All-Share Index that report more than 50% of their revenues or assets to China (click <a href="https://research.ftserussell.com/Analytics/Factsheets/Home/DownloadSingleIssue?issueName=FSTCT&amp;IsManual=false&amp;force_isolation=true">here</a> for more).
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<figure>
 <img src='https://api2.sgx.com/sites/default/files/2021-01/Capture_9.PNG' alt='FTSE ASEAN All-share index' />
 </figure>
 <div class='content-caption'>FTSE ASEAN All-share index</div>
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<tr>
<td>
			FTSE ST China Index Constituents (Sort by most traded in first week of 2021)
			</td>
			<td>
			Code
			</td>
			<td>
			Mkt Cap S$M
			</td>
			<td>
			2020 Total Return
			</td>
			<td>
			2021 YTD Total Return 
			</td>
			<td>
			Net Insti Inflow 2020 S$M
			</td>
			<td>
			Net Insti Inflow 2021 YTD S$M
			</td>
			<td>
			10 Year Total Return 
			</td>
			<td>
			Sector
			</td>
		</tr>
<tr>
<td>
			Wilmar Intl
			</td>
			<td>
			F34
			</td>
			<td>
			31,833
			</td>
			<td>
			17%
			</td>
			<td>
			8%
			</td>
			<td>
			-42
			</td>
			<td>
			73
			</td>
			<td>
			11%
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			YZJ Shipbldg SGD
			</td>
			<td>
			BS6
			</td>
			<td>
			3,925
			</td>
			<td>
			-11%
			</td>
			<td>
			7%
			</td>
			<td>
			-173
			</td>
			<td>
			27
			</td>
			<td>
			-22%
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Nanofilm
			</td>
			<td>
			MZH
			</td>
			<td>
			3,262
			</td>
			<td>
			70%
			</td>
			<td>
			12%
			</td>
			<td>
			-30
			</td>
			<td>
			4
			</td>
			<td>
			N/A
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			CapitaR China Tr
			</td>
			<td>
			AU8U
			</td>
			<td>
			2,203
			</td>
			<td>
			-7%
			</td>
			<td>
			4%
			</td>
			<td>
			-116
			</td>
			<td>
			3
			</td>
			<td>
			131%
			</td>
			<td>
			REITs
			</td>
		</tr>
<tr>
<td>
			Sunpower
			</td>
			<td>
			5GD
			</td>
			<td>
			665
			</td>
			<td>
			30%
			</td>
			<td>
			2%
			</td>
			<td>
			-1
			</td>
			<td>
			-1
			</td>
			<td>
			110%
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Hi-P
			</td>
			<td>
			H17
			</td>
			<td>
			1,607
			</td>
			<td>
			34%
			</td>
			<td>
			-1%
			</td>
			<td>
			35
			</td>
			<td>
			3
			</td>
			<td>
			196%
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			HPH Trust USD
			</td>
			<td>
			NS8U
			</td>
			<td>
			2,489
			</td>
			<td>
			24%
			</td>
			<td>
			9%
			</td>
			<td>
			-4
			</td>
			<td>
			-1
			</td>
			<td>
			N/A
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Yanlord Land
			</td>
			<td>
			Z25
			</td>
			<td>
			2,183
			</td>
			<td>
			-2%
			</td>
			<td>
			1%
			</td>
			<td>
			-19
			</td>
			<td>
			-2
			</td>
			<td>
			-18%
			</td>
			<td>
			Real Estate (Non-REITs)
			</td>
		</tr>
<tr>
<td>
			Hong Leong Asia
			</td>
			<td>
			H22
			</td>
			<td>
			595
			</td>
			<td>
			16%
			</td>
			<td>
			4%
			</td>
			<td>
			3
			</td>
			<td>
			0
			</td>
			<td>
			-69%
			</td>
			<td>
			Consumer Cyclicals
			</td>
		</tr>
<tr>
<td>
			Sasseur REIT
			</td>
			<td>
			CRPU
			</td>
			<td>
			1,007
			</td>
			<td>
			0%
			</td>
			<td>
			2%
			</td>
			<td>
			-35
			</td>
			<td>
			1
			</td>
			<td>
			N/A
			</td>
			<td>
			REITs
			</td>
		</tr>
<tr>
<td>
			Valuetronics
			</td>
			<td>
			BN2
			</td>
			<td>
			263
			</td>
			<td>
			-24%
			</td>
			<td>
			3%
			</td>
			<td>
			-20
			</td>
			<td>
			0
			</td>
			<td>
			454%
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			China Aviation
			</td>
			<td>
			G92
			</td>
			<td>
			955
			</td>
			<td>
			-13%
			</td>
			<td>
			5%
			</td>
			<td>
			1
			</td>
			<td>
			0
			</td>
			<td>
			11%
			</td>
			<td>
			Energy/ Oil &amp; Gas
			</td>
		</tr>
<tr>
<td>
			EC World REIT
			</td>
			<td>
			BWCU
			</td>
			<td>
			576
			</td>
			<td>
			4%
			</td>
			<td>
			0%
			</td>
			<td>
			-10
			</td>
			<td>
			0
			</td>
			<td>
			N/A
			</td>
			<td>
			REITs
			</td>
		</tr>
<tr>
<td>
			China Sunsine
			</td>
			<td>
			QES
			</td>
			<td>
			481
			</td>
			<td>
			-1%
			</td>
			<td>
			0%
			</td>
			<td>
			-1
			</td>
			<td>
			-1
			</td>
			<td>
			326%
			</td>
			<td>
			Materials &amp; Resources
			</td>
		</tr>
<tr>
<td>
			Tianjin ZX USD
			</td>
			<td>
			T14
			</td>
			<td>
			2,343
			</td>
			<td>
			7%
			</td>
			<td>
			1%
			</td>
			<td>
			-11
			</td>
			<td>
			0
			</td>
			<td>
			42%
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			China Everbright
			</td>
			<td>
			U9E
			</td>
			<td>
			644
			</td>
			<td>
			-25%
			</td>
			<td>
			0%
			</td>
			<td>
			-13
			</td>
			<td>
			0
			</td>
			<td>
			-49%
			</td>
			<td>
			Utilities
			</td>
		</tr>
<tr>
<td>
			SIIC Environment
			</td>
			<td>
			BHK
			</td>
			<td>
			458
			</td>
			<td>
			-32%
			</td>
			<td>
			2%
			</td>
			<td>
			-1
			</td>
			<td>
			0
			</td>
			<td>
			-35%
			</td>
			<td>
			Utilities
			</td>
		</tr>
<tr>
<td colspan="9">
			Source: SGX StockFacts, Refinitiv and Bloomberg (Data as of 31 December 2020)
			</td>
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The FTSE ST China Index generated a 7.1% gain last week, following a 7.4% total return in 2020. The Index is comprised of the 17 stocks of the FTSE ST All-Share Index with more than 50% revenue exposure/assets associated with China operations. 
	 
	
The newest entrant to the FTSE ST China Index is Nanofilm Technologies International which began 2021 with a 12% gain taking its gains since listing to 91%. Nanofilm’s prospectus detailed that two-thirds of its FY19 revenue was generated from invoices issued by its China operations. 
	 
	
Nanofilm Technologies was also the strongest performer of 17 stocks in 2020, followed by a 34% gain for Hi-P International and a 30% gain for Sunpower Group. On 31 Dec, Sunpower International entered into a SPA to divest the Manufacturing &amp; Services business to Nanjing Sunpower Holdings, enabling a strategic focus on its Green Investments.  
	 

 The FTSE ST China Index has gained 7.1% over the week 2021, adding to its 7.4% total return in 2020. The Index is comprised of 17 stocks of the FTSE ST All-Share Index that report more than 50% of their revenues or assets to China (click here for more).



      
    
    FTSE ASEAN All-share index




			FTSE ST China Index Constituents (Sort by most traded in first week of 2021)
			
			
			Code
			
			
			Mkt Cap S$M
			
			
			2020 Total Return
			
			
			2021 YTD Total Return 
			
			
			Net Insti Inflow 2020 S$M
			
			
			Net Insti Inflow 2021 YTD S$M
			
			
			10 Year Total Return 
			
			
			Sector
			
		


			Wilmar Intl
			
			
			F34
			
			
			31,833
			
			
			17%
			
			
			8%
			
			
			-42
			
			
			73
			
			
			11%
			
			
			Consumer Non-Cyclicals
			
		


			YZJ Shipbldg SGD
			
			
			BS6
			
			
			3,925
			
			
			-11%
			
			
			7%
			
			
			-173
			
			
			27
			
			
			-22%
			
			
			Industrials
			
		


			Nanofilm
			
			
			MZH
			
			
			3,262
			
			
			70%
			
			
			12%
			
			
			-30
			
			
			4
			
			
			N/A
			
			
			Technology (Hardware/ Software)
			
		


			CapitaR China Tr
			
			
			AU8U
			
			
			2,203
			
			
			-7%
			
			
			4%
			
			
			-116
			
			
			3
			
			
			131%
			
			
			REITs
			
		


			Sunpower
			
			
			5GD
			
			
			665
			
			
			30%
			
			
			2%
			
			
			-1
			
			
			-1
			
			
			110%
			
			
			Industrials
			
		


			Hi-P
			
			
			H17
			
			
			1,607
			
			
			34%
			
			
			-1%
			
			
			35
			
			
			3
			
			
			196%
			
			
			Industrials
			
		


			HPH Trust USD
			
			
			NS8U
			
			
			2,489
			
			
			24%
			
			
			9%
			
			
			-4
			
			
			-1
			
			
			N/A
			
			
			Industrials
			
		


			Yanlord Land
			
			
			Z25
			
			
			2,183
			
			
			-2%
			
			
			1%
			
			
			-19
			
			
			-2
			
			
			-18%
			
			
			Real Estate (Non-REITs)
			
		


			Hong Leong Asia
			
			
			H22
			
			
			595
			
			
			16%
			
			
			4%
			
			
			3
			
			
			0
			
			
			-69%
			
			
			Consumer Cyclicals
			
		


			Sasseur REIT
			
			
			CRPU
			
			
			1,007
			
			
			0%
			
			
			2%
			
			
			-35
			
			
			1
			
			
			N/A
			
			
			REITs
			
		


			Valuetronics
			
			
			BN2
			
			
			263
			
			
			-24%
			
			
			3%
			
			
			-20
			
			
			0
			
			
			454%
			
			
			Technology (Hardware/ Software)
			
		


			China Aviation
			
			
			G92
			
			
			955
			
			
			-13%
			
			
			5%
			
			
			1
			
			
			0
			
			
			11%
			
			
			Energy/ Oil &amp; Gas
			
		


			EC World REIT
			
			
			BWCU
			
			
			576
			
			
			4%
			
			
			0%
			
			
			-10
			
			
			0
			
			
			N/A
			
			
			REITs
			
		


			China Sunsine
			
			
			QES
			
			
			481
			
			
			-1%
			
			
			0%
			
			
			-1
			
			
			-1
			
			
			326%
			
			
			Materials &amp; Resources
			
		


			Tianjin ZX USD
			
			
			T14
			
			
			2,343
			
			
			7%
			
			
			1%
			
			
			-11
			
			
			0
			
			
			42%
			
			
			Healthcare
			
		


			China Everbright
			
			
			U9E
			
			
			644
			
			
			-25%
			
			
			0%
			
			
			-13
			
			
			0
			
			
			-49%
			
			
			Utilities
			
		


			SIIC Environment
			
			
			BHK
			
			
			458
			
			
			-32%
			
			
			2%
			
			
			-1
			
			
			0
			
			
			-35%
			
			
			Utilities
			
		


			Source: SGX StockFacts, Refinitiv and Bloomberg (Data as of 31 December 2020)
			
		



Singapore’s China Index Begins 2021 with 7% Gain  

China

AVIC Helicopter Co., Ltd. designs, develops, manufactures, and sells helicopters, airplane parts, and aviation-related products.  The Company also manufactures auto parts.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Avic Helicopter Co Ltd A (600038 CH)

Singapore’s China Index Begins 2021 with 7% Gain

The FTSE ST China Index generated a 7.1% gain last week, following a 7.4% total return in 2020. The Index is comprised of the 17 stocks of the...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)