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

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Singapore-based retail S-Reits record growth on higher sales, positive rent reversion The seven are: CapitaLand Integrated Commercial Trust (CICT), Frasers Centrepoint Trust (FCT), Lendlease Global Commercial Reit (Lendlease Reit), Mapletree Pan Asia Commercial Trust : N2IU (MPACT), Paragon Reit, Starhill Global Reit and Suntec Reit.</li><li>Suntec Reit’s retail portfolio reported a 3 per cent yoy growth in gross revenue and 1.3 per cent growth in NPI for Q1 2024.</li></ul>

Singapore-based retail S-Reits record growth on higher sales, positive rent reversion The seven are: CapitaLand Integrated Commercial Trust (CICT), Frasers Centrepoint Trust (FCT), Lendlease Global Commercial Reit (Lendlease Reit), Mapletree Pan Asia Commercial Trust : N2IU (MPACT), Paragon Reit, Starhill Global Reit and Suntec Reit.Suntec Reit’s retail portfolio reported a 3 per cent yoy growth in gross revenue and 1.3 per cent growth in NPI for Q1 2024.

REIT Watch - Singapore-based retail S-Reits record growth on higher sales, positive rent reversion

<ul><li>Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional outflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$55.8 million.</li><li>Leading the net institutional outflow over the five sessions were City Developments Ltd, Seatrium, Mapletree Logistics Trust, Mapletree Pan Asia Commercial Trust, Genting Singapore , Jardine Cycle & Carriage, NetLink NBN Trust, Golden Agri-Resources, Venture Corporation and Raffles Medical Group.</li><li>With a consideration of S$315,000, this increased his total interest in the regional premium real estate group from 74.86 to 74.97 per cent.</li></ul>

Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional outflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$55.8 million.Leading the net institutional outflow over the five sessions were City Developments Ltd, Seatrium, Mapletree Logistics Trust, Mapletree Pan Asia Commercial Trust, Genting Singapore , Jardine Cycle & Carriage, NetLink NBN Trust, Golden Agri-Resources, Venture Corporation and Raffles Medical Group.With a consideration of S$315,000, this increased his total interest in the regional premium real estate group from 74.86 to 74.97 per cent.

Real estate directors building up their company stakes

<ul><li>Softer US inflation data that came out the past week fuelled expectations of rate cuts once more.</li><li>The US consumer price index increased 0.3 per cent from March to April but was lower than what markets were expecting.</li><li>The iEdge S-Reit Index also rallied on Thursday, gaining 2 per cent.</li></ul>

Softer US inflation data that came out the past week fuelled expectations of rate cuts once more.The US consumer price index increased 0.3 per cent from March to April but was lower than what markets were expecting.The iEdge S-Reit Index also rallied on Thursday, gaining 2 per cent.

REIT Watch - Retail flows remain cautiously optimistic for S-Reits

<ul><li>Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$28.4 million.</li><li>Leading the net institutional inflow over the four sessions were DBS, UOB, Seatrium, City Developments, UOL Group, iFast Corporation, Singapore Tech Engineering, Singapore Exchange, Cortina Holdings, CapitaLand Integrated Commercial Trust and Hongkong Land Holdings.</li><li>For the month of April, Singapore stocks booked S$225 million of net institutional inflow, following S$1.15 billion of net institutional outflow in Q1.</li></ul>

Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$28.4 million.Leading the net institutional inflow over the four sessions were DBS, UOB, Seatrium, City Developments, UOL Group, iFast Corporation, Singapore Tech Engineering, Singapore Exchange, Cortina Holdings, CapitaLand Integrated Commercial Trust and Hongkong Land Holdings.For the month of April, Singapore stocks booked S$225 million of net institutional inflow, following S$1.15 billion of net institutional outflow in Q1.

Mapletree Logistics Trust / Equity Bottom-Up

<ul><li>LHT, Bumitama and JB Foods directors add to stakes City Developments again led the buyback consideration tally for the week, acquiring 2,439,900 shares at an average of S$5.93 per share.</li><li>Between Apr 19 and 23, LHT Holdings managing director Yap Mui Kee acquired 138,000 shares at an average price of S$1.186 per share.</li></ul>

LHT, Bumitama and JB Foods directors add to stakes City Developments again led the buyback consideration tally for the week, acquiring 2,439,900 shares at an average of S$5.93 per share.Between Apr 19 and 23, LHT Holdings managing director Yap Mui Kee acquired 138,000 shares at an average price of S$1.186 per share.

LHT, Bumitama and JB Foods directors add to stakes

Singapore

Mapletree Pan Asia Commercial Trust is a Singapore-focused real estate investment trust. The Trust invests on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, whether wholly or partially, as well as real estate-related assets.

Mapletree Pan Asia Commercial Trust (MCT SP)

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Mapletree Pan Asia Commercial Trust (MCT SP)

REIT Watch - Singapore-based retail S-Reits record growth on higher sales, positive rent reversion

Singapore-based retail S-Reits record growth on higher sales, positive rent reversion The seven are: CapitaLand Integrated Commercial Trust...

Singapore Exchange Ltd (SGX)

Real estate directors building up their company stakes

Institutions were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional...

Singapore Exchange Ltd (SGX)

REIT Watch - Retail flows remain cautiously optimistic for S-Reits

Softer US inflation data that came out the past week fuelled expectations of rate cuts once more. The US consumer price index increased 0.3 per...

Singapore Exchange Ltd (SGX)

Seatrium initiates buyback programme

Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow,...

Singapore Exchange Ltd (SGX)

LHT, Bumitama and JB Foods directors add to stakes

LHT, Bumitama and JB Foods directors add to stakes City Developments again led the buyback consideration tally for the week, acquiring 2,439,900...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)