Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>DBS initiates coverage of NTT DC REIT as 'buy' with a 20% target rise.</li>
<li>OCBC lowers First REIT's fair value due to ongoing FX impact.           </li>
<li>AIMS APAC REIT reports 1.1% increase in DPU for 1HFY2026.</li>
</ul>


DBS initiates coverage of NTT DC REIT as 'buy' with a 20% target rise.
OCBC lowers First REIT's fair value due to ongoing FX impact.           
AIMS APAC REIT reports 1.1% increase in DPU for 1HFY2026.


Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul>
<li>The Unified Industrial joint venture, supported by Macquarie, aims to create a new industrial REIT in Singapore.</li>
<li>AXA IM Alts is expanding its Build-to-Rent platform with a new project in Melbourne, Australia.</li>
<li>China's Q2 property investment deals have dropped by 46%, impacting the overall APAC market significantly.</li>
</ul>


The Unified Industrial joint venture, supported by Macquarie, aims to create a new industrial REIT in Singapore.
AXA IM Alts is expanding its Build-to-Rent platform with a new project in Melbourne, Australia.
China's Q2 property investment deals have dropped by 46%, impacting the overall APAC market significantly.


Asia Real Estate Tracker (03-Sep-2025): Unified Industrial JV proposes Singapore REIT.

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Tech and semis sharply lower as investors go risk off, although Coreweave bucks the trend to jump another 19%.</li>
<li>Infineon buoyed sentiment for power semi's somewhat after announcing tie up with NVDA for HVDC data center systems.</li>
<li>Expect a rough ride for Home builders and construction related plays such as Sumitomo Forestry and Shin Etsu.</li>
</ul>


Tech and semis sharply lower as investors go risk off, although Coreweave bucks the trend to jump another 19%.
Infineon buoyed sentiment for power semi's somewhat after announcing tie up with NVDA for HVDC data center systems.
Expect a rough ride for Home builders and construction related plays such as Sumitomo Forestry and Shin Etsu.


Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).</li>
<li>The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.</li>
<li>Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.</li>
</ul>


AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).
The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.
Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.


Global Stock Positioning:  MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

<ul>
<li>We screen for Global companies at the extreme ends of their positioning or momentum ranges among active Global equity funds.</li>
<li>Low Positioning coupled with Negative Momentum:  Intel Corporation and Nippon Telegraph and Telephone Corporation.</li>
<li>High Positioning coupled with High Momentum:  Amphenol Corporation and Iberdrola SA </li>
</ul>


We screen for Global companies at the extreme ends of their positioning or momentum ranges among active Global equity funds.
Low Positioning coupled with Negative Momentum:  Intel Corporation and Nippon Telegraph and Telephone Corporation.
High Positioning coupled with High Momentum:  Amphenol Corporation and Iberdrola SA 


Japan

Nippon Telegraph and Telephone Corporation provides a variety of telecommunication services, including telephone, telegraph, leased circuits, data communication, terminal equipment sales, and related services. The Company provides both local and long distance telephone services within Japan.

NTT (Nippon Telegraph & Telephone) (9432 JP)

Price Gauge
52-week Range	0.00 - 0.00
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NTT (Nippon Telegraph & Telephone) (9432 JP)

Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

DBS rates NTT DC REIT as 'buy' with a 20% target rise; OCBC cuts First REIT's fair value; AIMS APAC REIT sees 1.1% DPU growth in 1HFY2026.

Singapore Market Roundup

Asia Real Estate Tracker (03-Sep-2025): Unified Industrial JV proposes Singapore REIT.

Unified Industrial plans a new industrial REIT in Singapore, while AXA IM Alts expands its Build-to-Rent in Melbourne, amid a 46% drop in China's...

Asia Real Estate Tracker

Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...

Andrew Jackson

Global Stock Positioning: MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

The latest in stock-level investor positioning among over 300 active Global funds. We explore the AI boom, key over/underweights, Tobacco's...

Steven Holden

Global Funds: Extreme Stocks

In this report, we utilize our Global fund holdings database to screen for stocks at the extreme ends of their positioning or momentum ranges.

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

DBS rates NTT DC REIT as 'buy' with a 20% target rise; OCBC cuts First REIT's fair value; AIMS APAC REIT sees 1.1% DPU growth in 1HFY2026.

Singapore Market Roundup

Asia Real Estate Tracker (03-Sep-2025): Unified Industrial JV proposes Singapore REIT.

Unified Industrial plans a new industrial REIT in Singapore, while AXA IM Alts expands its Build-to-Rent in Melbourne, amid a 46% drop in China's...

Asia Real Estate Tracker

Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

​Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...

Andrew Jackson

Global Stock Positioning: MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

The latest in stock-level investor positioning among over 300 active Global funds. We explore the AI boom, key over/underweights, Tobacco's...

Steven Holden

Global Funds: Extreme Stocks

In this report, we utilize our Global fund holdings database to screen for stocks at the extreme ends of their positioning or momentum ranges.

Steven Holden

Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...