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>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

<ul><li>5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for the half-year period ended Jun 30, 2023.</li><li>CDL Hospitality Trusts’ H1 2023 NPI increased by 23.3 per cent yoy, largely attributed to Singapore, Japan, Australia, Europe and UK markets.</li></ul>

5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for the half-year period ended Jun 30, 2023.CDL Hospitality Trusts’ H1 2023 NPI increased by 23.3 per cent yoy, largely attributed to Singapore, Japan, Australia, Europe and UK markets.

REIT Watch - Hospitality trusts report higher DPU for H1 2023

<ul><li>Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.</li><li>This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.</li></ul>

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.

Vibrant activity among top traded stocks on SGX

<ul><li>Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.</li></ul>

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.

REIT Watch - 17 S-Reits reporting earnings during the week

<ul><li>SINGAPORE-LISTED real estate investment trusts (S-Reits) continue to hold up despite decelerating global growth, with the iEdge S-Reit Index generating 2.1 per cent in total returns in the first half of 2023, outperforming the Straits Times Index’s 1.2 per cent and the FTSE EPRA Nareit Asia ex Japan Index’s -1.7 per cent.</li><li>The 10 S-Reits were Keppel DC Reit, Cromwell European Reit (Cromwell E-Reit), Frasers Logistics & Commercial Trust, Frasers Hospitality Trust, Paragon Reit, Frasers Centrepoint Trust, Aims Apac Reit, ParkwayLife Reit, CapitaLand India Trust, and CapitaLand Ascott Trust.</li><li>Outperformance was driven across specialised, healthcare and hospitality sub-sectors at 7.5 per cent, 5.2 per cent, and 4.1 per cent total returns respectively.</li></ul>

SINGAPORE-LISTED real estate investment trusts (S-Reits) continue to hold up despite decelerating global growth, with the iEdge S-Reit Index generating 2.1 per cent in total returns in the first half of 2023, outperforming the Straits Times Index’s 1.2 per cent and the FTSE EPRA Nareit Asia ex Japan Index’s -1.7 per cent.The 10 S-Reits were Keppel DC Reit, Cromwell European Reit (Cromwell E-Reit), Frasers Logistics & Commercial Trust, Frasers Hospitality Trust, Paragon Reit, Frasers Centrepoint Trust, Aims Apac Reit, ParkwayLife Reit, CapitaLand India Trust, and CapitaLand Ascott Trust.Outperformance was driven across specialised, healthcare and hospitality sub-sectors at 7.5 per cent, 5.2 per cent, and 4.1 per cent total returns respectively.

REIT Watch - 10 S-Reits which outperformed in H1

Singapore

Keppel DC REIT is Asia's first pure-play data centre real estate investment trust, investing in a diversified portfolio of income-producing real estate assets used primarily for data centre purposes and assets supporting the digital economy. Its properties are leased as colocation, fully fitted, and shell and core data centers across Asia and Europe. Headquartered in Singapore, the company was founded in 2014.

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Keppel DC (KDCREIT SP)

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)

REIT Watch - Hospitality trusts report higher DPU for H1 2023

5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for...

Singapore Exchange Ltd (SGX)

Vibrant activity among top traded stocks on SGX

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered...

Singapore Exchange Ltd (SGX)

REIT Watch - 17 S-Reits reporting earnings during the week

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul This coming week, another 17...

Singapore Exchange Ltd (SGX)

REIT Watch - 10 S-Reits which outperformed in H1

SINGAPORE-LISTED real estate investment trusts (S-Reits) continue to hold up despite decelerating global growth, with the iEdge S-Reit Index...

Singapore Exchange Ltd (SGX)

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