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

Acrophyte Hospitality Trust / Equity Bottom-Up

<ul><li>10 Top performing S-REITs and Trusts for Mar 18-22 MANULIFE US REAL ESTATE INV  The top five gainers among S-REITs and property trusts in the week ahead of the Friday afternoon session were: Manulife US REIT, Keppel Pacific Oak US REIT, ARA US Hospitality Trust, First REIT, and Far East Hospitality Trust.</li></ul>

10 Top performing S-REITs and Trusts for Mar 18-22 MANULIFE US REAL ESTATE INV  The top five gainers among S-REITs and property trusts in the week ahead of the Friday afternoon session were: Manulife US REIT, Keppel Pacific Oak US REIT, ARA US Hospitality Trust, First REIT, and Far East Hospitality Trust.

REIT Watch - S-REITs gain on Fed chair Powell reaffirming three rate cuts to come this year

<ul><li>REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two listed healthcare S-Reits as well – First Reit and ParkwayLife Reit (PLife Reit).</li><li>PLife Reit announced a DPU of 14.77 Singapore cents for the full year 2023, a 2.7 per cent increase year on year.</li></ul>

REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two listed healthcare S-Reits as well – First Reit and ParkwayLife Reit (PLife Reit).PLife Reit announced a DPU of 14.77 Singapore cents for the full year 2023, a 2.7 per cent increase year on year.

REIT Watch - Healthcare S-Reits outperform in February

<ul><li>THE first seven months of 2023 saw the iEdge S-Reit Index gain 3.9 per cent in total return terms, reversing its 11.9 per cent decline in 2022.</li><li>This was followed by hospitality S-Reits with 5.8 per cent average total returns, after being the best performing sub-segment last year.</li><li>PLife Reit declared a distribution per unit (DPU) of 7.29 Singapore cents for H1 2023, representing an increase of 3.3 per cent year on year.</li></ul>

THE first seven months of 2023 saw the iEdge S-Reit Index gain 3.9 per cent in total return terms, reversing its 11.9 per cent decline in 2022.This was followed by hospitality S-Reits with 5.8 per cent average total returns, after being the best performing sub-segment last year.PLife Reit declared a distribution per unit (DPU) of 7.29 Singapore cents for H1 2023, representing an increase of 3.3 per cent year on year.

REIT Watch - Healthcare S-REITs remain committed to expansion strategies

<ul><li>In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.</li><li>However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.</li><li>They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.</li></ul>

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

First Real Estate Investment Trust / Equity Bottom-Up

First Real Estate Investment Trust (FIRT SP)

<ul><li>The global Healthcare sector has expanded at a rapid pace over the recent years, driven by significant medical advances, accelerated drug approval processes for high unmet needs and overall increased access to healthcare.</li><li>The iEdge SG All Healthcare Index, which tracks the performance of the listed healthcare segment in Singapore, generated a 5% decline (in total return terms) in the first 2 months of 2023, with the top 10 constituents by weightage, averaging 0.8% gain in total returns.</li><li>Q & M Dental Group, reported a 12% decline in full year total FY22 revenue as Covid-19 testing revenue significantly decreased.</li></ul>

The global Healthcare sector has expanded at a rapid pace over the recent years, driven by significant medical advances, accelerated drug approval processes for high unmet needs and overall increased access to healthcare.The iEdge SG All Healthcare Index, which tracks the performance of the listed healthcare segment in Singapore, generated a 5% decline (in total return terms) in the first 2 months of 2023, with the top 10 constituents by weightage, averaging 0.8% gain in total returns.Q & M Dental Group, reported a 12% decline in full year total FY22 revenue as Covid-19 testing revenue significantly decreased.

Bright Spots in Singapore's Healthcare sector

Singapore

First Real Estate Investment Trust is a Singapore-based healthcare real estate investment trust. It invests in a diversified portfolio of income-producing real estate and related assets in Asia, primarily used for healthcare and healthcare-related purposes, including hospitals and nursing homes. The Trust was listed on the SGX-ST in December 2006 and is headquartered in Singapore.

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First Real Estate Investment Trust (FIRT SP)

REIT Watch - S-REITs gain on Fed chair Powell reaffirming three rate cuts to come this year

10 Top performing S-REITs and Trusts for Mar 18-22 MANULIFE US REAL ESTATE INV The top five gainers among S-REITs and property trusts in the week...

Singapore Exchange Ltd (SGX)

REIT Watch - Healthcare S-Reits outperform in February

REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two...

Singapore Exchange Ltd (SGX)

REIT Watch - Healthcare S-REITs remain committed to expansion strategies

THE first seven months of 2023 saw the iEdge S-Reit Index gain 3.9 per cent in total return terms, reversing its 11.9 per cent decline in...

Singapore Exchange Ltd (SGX)

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4...

Singapore Exchange Ltd (SGX)

Bright Spots in Singapore's Healthcare sector

The global Healthcare sector has expanded at a rapid pace over the recent years, driven by significant medical advances, accelerated drug approval...

Singapore Exchange Ltd (SGX)

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