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>S-REITs increase exposure to data centre assets Recently, CapitaLand Investment (CLI) also announced the establishment of a China data centre development fund, which has committed to invest in two hyperscale data centre development projects in Greater Beijing.</li><li>Its data centre exposure increased from 41.2 per cent of AUM back in March 2021, to 53.5 per cent as at Dec 31, 2022.</li></ul>

S-REITs increase exposure to data centre assets Recently, CapitaLand Investment (CLI) also announced the establishment of a China data centre development fund, which has committed to invest in two hyperscale data centre development projects in Greater Beijing.Its data centre exposure increased from 41.2 per cent of AUM back in March 2021, to 53.5 per cent as at Dec 31, 2022.

REIT Watch - S-REITs increase exposure to data centre assets

<ul><li>5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest institutional net inflows for most of last week.</li><li>The five S-Reits were CapitaLand Ascendas Reit, Keppel DC Reit, Mapletree Logistics Trust, Mapletree Industrial Trust, and Keppel Reit.</li></ul>

5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest institutional net inflows for most of last week.The five S-Reits were CapitaLand Ascendas Reit, Keppel DC Reit, Mapletree Logistics Trust, Mapletree Industrial Trust, and Keppel Reit.

REIT Watch - 5 S-Reits among top 10 institutional net buy stocks for the week

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>Within the S-REIT Sector, the hospitality segment booked the highest net fund inflows and highest average total returns over the past 13 sessions, followed by the two pure-play data centre REITs.</li><li>This follows the stapled hospitality trusts averaging flat total returns in 2022, while also drawing net fund inflows.</li><li>The first 13 sessions of 2023 saw the same 15 trusts average 2.2% gains while booking S$10 million of net fund inflows.</li></ul>

Within the S-REIT Sector, the hospitality segment booked the highest net fund inflows and highest average total returns over the past 13 sessions, followed by the two pure-play data centre REITs.This follows the stapled hospitality trusts averaging flat total returns in 2022, while also drawing net fund inflows.The first 13 sessions of 2023 saw the same 15 trusts average 2.2% gains while booking S$10 million of net fund inflows.

S-REITs In Focus as Earnings Season Begins

<ul><li>The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return.</li><li>Singapore’s 100 most actively traded stocks booked S$712 million of net fund inflow in November, with Banks, Consumer Cyclicals and the Telecommunication Sectors leading the net fund inflow, while the REIT, Energy and Healthcare Sectors booked the most net fund outflows.</li><li>The 100 stocks also booked S$712 million of net fund inflow in November, bringing the net fund inflow for the 100 stocks over the past 11 months to S$1.18 billion.</li></ul>

The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return.Singapore’s 100 most actively traded stocks booked S$712 million of net fund inflow in November, with Banks, Consumer Cyclicals and the Telecommunication Sectors leading the net fund inflow, while the REIT, Energy and Healthcare Sectors booked the most net fund outflows.The 100 stocks also booked S$712 million of net fund inflow in November, bringing the net fund inflow for the 100 stocks over the past 11 months to S$1.18 billion.

Most Actives Average 7% Total Return in Nov, on S$700M of Net Fund Inflow

CapitaLand Ascendas REIT / Equity Bottom-Up

<ul><li>With global inflation set to outpace global growth by 5% in 2022, the FTSE ST REIT Index has generated a 10% decline in total return this year, with the FTSE EPRA/NAREIT Developed Index declining 22%.</li><li>This has brought the 5-year total return of the FTSE ST REIT Index to 15%, compared to 8% for the FTSE EPRA/NAREIT Developed Index.</li><li>The partial rebound of the S-REIT Sector over the past month has also pared the FTSE ST REIT Index decline in total return for the 2022 year to 18 Nov to 10%, compared to the FTSE EPRA/NAREIT Developed Index declining 22%.</li></ul>

With global inflation set to outpace global growth by 5% in 2022, the FTSE ST REIT Index has generated a 10% decline in total return this year, with the FTSE EPRA/NAREIT Developed Index declining 22%.This has brought the 5-year total return of the FTSE ST REIT Index to 15%, compared to 8% for the FTSE EPRA/NAREIT Developed Index.The partial rebound of the S-REIT Sector over the past month has also pared the FTSE ST REIT Index decline in total return for the 2022 year to 18 Nov to 10%, compared to the FTSE EPRA/NAREIT Developed Index declining 22%.

S-REITs Narrow Discount to Book Value on Global Rate Outlook

Singapore

CapitaLand Ascendas REIT is an industrial real estate investment trust. The Trust invests in business and science park properties, integrated development, amenities, and retail (IDAR) properties, high-specifications industrial properties and data centers, light industrial and flatted factories, and logistics and distribution centers.

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CapitaLand Ascendas REIT (CLAR SP)

REIT Watch - S-REITs increase exposure to data centre assets

S-REITs increase exposure to data centre assets Recently, CapitaLand Investment (CLI) also announced the establishment of a China data centre...

Singapore Exchange Ltd (SGX)

REIT Watch - 5 S-Reits among top 10 institutional net buy stocks for the week

5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest...

Singapore Exchange Ltd (SGX)

S-REITs In Focus as Earnings Season Begins

Within the S-REIT Sector, the hospitality segment booked the highest net fund inflows and highest average total returns over the past 13 sessions,...

Singapore Exchange Ltd (SGX)

Most Actives Average 7% Total Return in Nov, on S$700M of Net Fund Inflow

The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return. Singapore’s 100...

Singapore Exchange Ltd (SGX)

S-REITs Narrow Discount to Book Value on Global Rate Outlook

With global inflation set to outpace global growth by 5% in 2022, the FTSE ST REIT Index has generated a 10% decline in total return this year,...

Singapore Exchange Ltd (SGX)

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52-week Range

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