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>Share buybacks by primary-listed companies Institutions were net buyers of Singapore stocks over the five trading sessions through to Mar 21, with S$257 million of net institutional inflow, as 23 primary-listed companies conducted buybacks with a total consideration of S$26.5 million.</li><li>This followed her acquisition of 13,900 shares at an average price of S$0.48 per share on Mar 7, and 191,500 shares at S$0.49 per share on Mar 11.</li></ul>

Share buybacks by primary-listed companies Institutions were net buyers of Singapore stocks over the five trading sessions through to Mar 21, with S$257 million of net institutional inflow, as 23 primary-listed companies conducted buybacks with a total consideration of S$26.5 million.This followed her acquisition of 13,900 shares at an average price of S$0.48 per share on Mar 7, and 191,500 shares at S$0.49 per share on Mar 11.

Raffles Medical chair continues purchases; Sam Goi ups PSC stake

Frasers Centrepoint Trust / Equity Bottom-Up

<ul><li>The STI March quarterly review will see Frasers Centrepoint Trust (FCT) added to the STI effective the Monday 18 March open.</li><li>FCT’s inclusion is expected to take the STI’s REIT Sector weight back to ~13% from ~12% at present, and the number of STI REITs back to seven, following Keppel DC REIT leaving the STI in June 2023.</li><li>Impacting the outlook for financing costs, this has seen the six STI REITs average 9.4% declines in unit prices post the indicative 29 Dec 2023 STI weightages.</li></ul>

The STI March quarterly review will see Frasers Centrepoint Trust (FCT) added to the STI effective the Monday 18 March open.FCT’s inclusion is expected to take the STI’s REIT Sector weight back to ~13% from ~12% at present, and the number of STI REITs back to seven, following Keppel DC REIT leaving the STI in June 2023.Impacting the outlook for financing costs, this has seen the six STI REITs average 9.4% declines in unit prices post the indicative 29 Dec 2023 STI weightages.

STI REIT Sector Weight to Return to ~13% with Frasers Centrepoint Trust Inclusion 

<ul><li>More than 250 Singapore-listed stocks have booked net institutional inflow over the past 10 weeks.</li><li>The most traded of the 16 stocks includes three STI stocks, in addition to incoming STI constituent Frasers Centrepoint Trust.</li><li>Of the 250 stocks that booked net institutional inflow, 16 stocks also booked net retail inflow, with seven of these 16 stocks maintaining market average daily turnover of at least S$100,000 over the past 10 weeks.</li></ul>

More than 250 Singapore-listed stocks have booked net institutional inflow over the past 10 weeks.The most traded of the 16 stocks includes three STI stocks, in addition to incoming STI constituent Frasers Centrepoint Trust.Of the 250 stocks that booked net institutional inflow, 16 stocks also booked net retail inflow, with seven of these 16 stocks maintaining market average daily turnover of at least S$100,000 over the past 10 weeks.

Singapore Stocks that have booked YTD Net Inflows from Institutions & Retail 

<ul><li>REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an approximate weight of 0.8 per cent.</li><li>FCT is also the second Frasers Property-sponsored Reit to join the benchmark after Frasers Logistics & Commercial Trust.</li><li>The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be: CapitaLand Ascott Trust, ComfortDelGro, Keppel DC Reit, Keppel Reit, and Suntec Reit.</li></ul>

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an approximate weight of 0.8 per cent.FCT is also the second Frasers Property-sponsored Reit to join the benchmark after Frasers Logistics & Commercial Trust.The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be: CapitaLand Ascott Trust, ComfortDelGro, Keppel DC Reit, Keppel Reit, and Suntec Reit.

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18

<ul><li>Cohen & Steers increases deemed interests in Parkway Life Reit and Digital Core Reit Stamford Land Corporation led the buyback consideration tally, buying back 325 million shares at an average price of S$0.40 per share over four sessions.</li><li>On Feb 1, Cohen & Steers Capital Management also increased its deemed interest in Digital Core Reit (DCReit) to above the 5 per cent substantial shareholder threshold.</li></ul>

Cohen & Steers increases deemed interests in Parkway Life Reit and Digital Core Reit Stamford Land Corporation led the buyback consideration tally, buying back 325 million shares at an average price of S$0.40 per share over four sessions.On Feb 1, Cohen & Steers Capital Management also increased its deemed interest in Digital Core Reit (DCReit) to above the 5 per cent substantial shareholder threshold.

Cohen & Steers increases deemed interests in Parkway Life Reit and Digital Core Reit

Singapore

Frasers Centrepoint Trust is a retail real estate investment trust focused on growing unitholder value through asset management, financial management and strategic investments.  The trust invests in retail properties in Singapore and overseas.

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Frasers Centrepoint Trust (FCT SP)

Raffles Medical chair continues purchases; Sam Goi ups PSC stake

Share buybacks by primary-listed companies Institutions were net buyers of Singapore stocks over the five trading sessions through to Mar 21, with...

Singapore Exchange Ltd (SGX)

STI REIT Sector Weight to Return to ~13% with Frasers Centrepoint Trust Inclusion

The STI March quarterly review will see Frasers Centrepoint Trust (FCT) added to the STI effective the Monday 18 March open. FCT’s inclusion is...

Singapore Exchange Ltd (SGX)

Singapore Stocks that have booked YTD Net Inflows from Institutions & Retail

More than 250 Singapore-listed stocks have booked net institutional inflow over the past 10 weeks. The most traded of the 16 stocks includes three...

Singapore Exchange Ltd (SGX)

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an...

Singapore Exchange Ltd (SGX)

Cohen & Steers increases deemed interests in Parkway Life Reit and Digital Core Reit

Cohen & Steers increases deemed interests in Parkway Life Reit and Digital Core Reit Stamford Land Corporation led the buyback consideration...

Singapore Exchange Ltd (SGX)

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