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 recorded a net outflow of S$41 million from Singapore stocks, with notable outflows from DBS, Sembcorp, and CapitaLand.</li><li>Singapore Telecommunications led share buybacks, spending S$50 million on 10.15 million shares under its Value Realisation Share Buy-back programme.</li><li>Geo Energy Resources and Aoxin Q&M Dental Group raised S$14.9 million and S$17.0 million, respectively, through share placements for capital enhancement.</li></ul>

Institutions recorded a net outflow of S$41 million from Singapore stocks, with notable outflows from DBS, Sembcorp, and CapitaLand.Singapore Telecommunications led share buybacks, spending S$50 million on 10.15 million shares under its Value Realisation Share Buy-back programme.Geo Energy Resources and Aoxin Q&M Dental Group raised S$14.9 million and S$17.0 million, respectively, through share placements for capital enhancement.

Buybacks & Director Filings Surge Following Heavy Earnings Season

<ul><li>Among Singapore’s 100 most traded stocks, 22 have a combined ADT of S$42.9 million and market cap of S$8.15 billion.</li><li>Industrials, Technology, and Energy sectors make up nearly 80% of these stocks, reflecting global trends in infrastructure, AI, and renewables.</li><li>The 22 stocks recorded a net institutional inflow of S$132.35 million in 2025, led by CSE Global.</li></ul>

Among Singapore’s 100 most traded stocks, 22 have a combined ADT of S$42.9 million and market cap of S$8.15 billion.Industrials, Technology, and Energy sectors make up nearly 80% of these stocks, reflecting global trends in infrastructure, AI, and renewables.The 22 stocks recorded a net institutional inflow of S$132.35 million in 2025, led by CSE Global.

High Trading Activity Stocks Outside the Big-Caps

<ul><li>Geo Energy's dividend policy commits to at least 30% of profit, with recent dividends showing a 25% increase.</li><li>In 1H2025, Geo Energy nearly doubled sales volume, boosting revenue by 71% and achieving US$20.1 million net profit.</li><li>Geo Energy's integrated infrastructure supports revenue diversification through toll and jetty usage fees, enhancing financial stability.</li></ul>

Geo Energy's dividend policy commits to at least 30% of profit, with recent dividends showing a 25% increase.In 1H2025, Geo Energy nearly doubled sales volume, boosting revenue by 71% and achieving US$20.1 million net profit.Geo Energy's integrated infrastructure supports revenue diversification through toll and jetty usage fees, enhancing financial stability.

10 in 10 with Geo Energy Resources - Bridging the gap of Energy and Infrastructure

<ul><li>The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.</li><li>The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.</li><li>iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.</li></ul>

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.

Recent Highlights of the FTSE ST Mid & Small Cap Index

<ul><li>American Century Investment increased its stake in Rex International to over 5% through the AVDV ETF, holding 5.3% of Rex's shares.</li><li>The AVDV ETF targets small-cap stocks in non-US developed markets, focusing on low valuations and strong profitability.</li><li>In 2025, 22 of 30 SGX-listed stocks in the AVDV ETF saw increased average daily turnover compared to 2024.</li></ul>

American Century Investment increased its stake in Rex International to over 5% through the AVDV ETF, holding 5.3% of Rex's shares.The AVDV ETF targets small-cap stocks in non-US developed markets, focusing on low valuations and strong profitability.In 2025, 22 of 30 SGX-listed stocks in the AVDV ETF saw increased average daily turnover compared to 2024.

30 Singapore Stocks Through the Lens of a US Small Cap Value ETF 

Singapore

Geo Energy Resources is an established coal mining group operating in Indonesia, focusing on low-cost production of premium coal with low-ash and low-sulphur characteristics. The company's core activities include owning and operating coal mines, providing mining contracting services, and trading coal. Headquartered in Singapore, the company was established in 2008.

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Geo Energy Resources (GERL SP)

Buybacks & Director Filings Surge Following Heavy Earnings Season

Institutions recorded a net outflow of S$41 million from Singapore stocks, with notable outflows from DBS, Sembcorp, and CapitaLand. Singapore...

Singapore Exchange Ltd (SGX)

High Trading Activity Stocks Outside the Big-Caps

Among Singapore’s 100 most traded stocks, 22 have a combined ADT of S$42.9 million and market cap of S$8.15 billion. Industrials, Technology, and...

Singapore Exchange Ltd (SGX)

10 in 10 with Geo Energy Resources - Bridging the gap of Energy and Infrastructure

Geo Energy's dividend policy commits to at least 30% of profit, with recent dividends showing a 25% increase. In 1H2025, Geo Energy nearly doubled...

Singapore Exchange Ltd (SGX)

Recent Highlights of the FTSE ST Mid & Small Cap Index

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain. The Index saw S$382 million...

Singapore Exchange Ltd (SGX)

30 Singapore Stocks Through the Lens of a US Small Cap Value ETF

American Century Investment increased its stake in Rex International to over 5% through the AVDV ETF, holding 5.3% of Rex's shares. The AVDV ETF...

Singapore Exchange Ltd (SGX)

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