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 were net sellers of Singapore stocks, resulting in a net outflow of S$221 million from March 7-13.</li><li>Franklin Resources acquired 969,800 units of Digital Core REIT, increasing its deemed interest to 5.06% on March 6.</li><li>Nam Cheong reported FY net profit of RM790.1 million, with revenue rising 45.1% to RM689.4 million in FY24.</li></ul>

Institutions were net sellers of Singapore stocks, resulting in a net outflow of S$221 million from March 7-13.Franklin Resources acquired 969,800 units of Digital Core REIT, increasing its deemed interest to 5.06% on March 6.Nam Cheong reported FY net profit of RM790.1 million, with revenue rising 45.1% to RM689.4 million in FY24.

Digital Core REIT Gains New Substantial Shareholder

Managing Director, Golden Section Capital

Garreth Elston

Managing Director

Golden Section Equity Research

Golden Section Capital

Golden Section Capital is a private international investment, specialist independent equity research, and corporate finance consulting services provider focussing on real estate and infrastructure. 

Paid for corporate research on Real Estate and Infrastructure companies. Plus independent pieces on various real estate companies and themes.

Thematic (Sector/Industry)

<ul>
<li>The South African listed property sector extended its recovery through October, supported by stabilising inflation, a softer global rate backdrop, and renewed capital inflows into income-yielding assets.</li>
<li>The J803 All Property Index delivered an 8.13% total return for the month, bringing year-to-date gains to 21.11%</li>
<li>Sector breadth remains the strongest in over two years, with 26 of 40 counters posting positive returns.</li>
</ul>


The South African listed property sector extended its recovery through October, supported by stabilising inflation, a softer global rate backdrop, and renewed capital inflows into income-yielding assets.
The J803 All Property Index delivered an 8.13% total return for the month, bringing year-to-date gains to 21.11%
Sector breadth remains the strongest in over two years, with 26 of 40 counters posting positive returns.


The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

<ul>
<li>
The global data center industry is experiencing strong secular tailwinds, driven by the rapid surge in demand for Artificial Intelligence (AI) and Machine Learning (ML) workloads, as well as cloud computing.
</li>
<li>
Key data center markets like Singapore and Northern Virginia (in the US) are experiencing near-zero vacancy rates, forcing cloud service providers and other data center operators to look toward secondary cities.
</li>
<li>
Moreover, land is being pre-leased before permits are even issued in some markets, underscoring strong demand.
</li>
</ul>



The global data center industry is experiencing strong secular tailwinds, driven by the rapid surge in demand for Artificial Intelligence (AI) and Machine Learning (ML) workloads, as well as cloud computing.


Key data center markets like Singapore and Northern Virginia (in the US) are experiencing near-zero vacancy rates, forcing cloud service providers and other data center operators to look toward secondary cities.


Moreover, land is being pre-leased before permits are even issued in some markets, underscoring strong demand.



<ul><li>Institutions were net sellers of Singapore stocks over the four trading sessions spanning August 2 through to August 7, with S$586 million of net institutional outflow.</li><li>The four sessions also saw 12 primary-listed companies conduct buybacks with a total consideration of S$20.4 million.</li><li>Digital Core REIT Management also acquired units of Digital Core REIT over each of the four sessions.</li></ul>

Institutions were net sellers of Singapore stocks over the four trading sessions spanning August 2 through to August 7, with S$586 million of net institutional outflow.The four sessions also saw 12 primary-listed companies conduct buybacks with a total consideration of S$20.4 million.Digital Core REIT Management also acquired units of Digital Core REIT over each of the four sessions.

Cohen & Steers Ups Digital Core REIT Interest, Beng Kuang Marine CEO also adds to Interest

<ul><li>Ever wondered what is currently driving the local and regional markets? Pranay Yadav is a Senior Research Analyst at Mint Finance, a Singapore based research and consulting firm offering nuanced and deep insights on global macro and its impact on Singapore stocks, REITs, and ETFs.</li><li>From Pranay Yadav, Senior Research Analyst, Mint Finance: Among Singapore REITs with exposure to data centre properties, only Digital Core REIT (DCRU) and Keppel DC REIT (AJBU) have models focused entirely on data centres.</li></ul>

Ever wondered what is currently driving the local and regional markets? Pranay Yadav is a Senior Research Analyst at Mint Finance, a Singapore based research and consulting firm offering nuanced and deep insights on global macro and its impact on Singapore stocks, REITs, and ETFs.From Pranay Yadav, Senior Research Analyst, Mint Finance: Among Singapore REITs with exposure to data centre properties, only Digital Core REIT (DCRU) and Keppel DC REIT (AJBU) have models focused entirely on data centres.

What's Trending: GenAI unleashes hyper demand for Data Centres

United States

Digital Realty Trust, Inc. owns, acquires, repositions, and manages technology-related real estate.  The Company's properties contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise data center tenants.  Digital's property portfolio is located throughout the United States and in England.

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Digital Realty Trust (DLR US)

Digital Core REIT Gains New Substantial Shareholder

Institutions were net sellers of Singapore stocks, resulting in a net outflow of S$221 million from March 7-13. Franklin Resources acquired...

Singapore Exchange Ltd (SGX)

SA Listed Property Review - October 2025

The South African listed property sector rebounded in October with strong returns and increased investor interest in income-yielding assets.

Golden Section Capital

Data Centers & Data Center REITs

The global data center industry is experiencing strong secular tailwinds, driven by the rapid surge in demand for Artificial Intelligence (AI)...

Wealth Management Alliance

Cohen & Steers Ups Digital Core REIT Interest, Beng Kuang Marine CEO also adds to Interest

Institutions were net sellers of Singapore stocks over the four trading sessions spanning August 2 through to August 7, with S$586 million of net...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Digital Core REIT Gains New Substantial Shareholder

Institutions were net sellers of Singapore stocks, resulting in a net outflow of S$221 million from March 7-13. Franklin Resources acquired...

Singapore Exchange Ltd (SGX)

SA Listed Property Review - October 2025

​The South African listed property sector rebounded in October with strong returns and increased investor interest in income-yielding assets.

Golden Section Capital

Data Centers & Data Center REITs

The global data center industry is experiencing strong secular tailwinds, driven by the rapid surge in demand for Artificial Intelligence (AI)...

Wealth Management Alliance

Cohen & Steers Ups Digital Core REIT Interest, Beng Kuang Marine CEO also adds to Interest

Institutions were net sellers of Singapore stocks over the four trading sessions spanning August 2 through to August 7, with S$586 million of net...

Singapore Exchange Ltd (SGX)

What's Trending: GenAI unleashes hyper demand for Data Centres

Ever wondered what is currently driving the local and regional markets? Pranay Yadav is a Senior Research Analyst at Mint Finance, a Singapore...

Singapore Exchange Ltd (SGX)

The South African listed property sector rebounded in October with strong returns and increased investor interest in income-yielding assets.