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>Singapore's Financial and Technology sectors experienced selective net institutional inflows, with UOB, OCBC, SGX, and UMS leading inflows.</li><li>Global conditions tightened, with selective ETF net inflows totaling S$20 million, led by SPDR Straits Times Index ETF.</li><li>Institutional flows concentrated in Financial Services and Technology sectors, with significant inflows to UOB, OCBC, and Venture Corporation.</li></ul>

Singapore's Financial and Technology sectors experienced selective net institutional inflows, with UOB, OCBC, SGX, and UMS leading inflows.Global conditions tightened, with selective ETF net inflows totaling S$20 million, led by SPDR Straits Times Index ETF.Institutional flows concentrated in Financial Services and Technology sectors, with significant inflows to UOB, OCBC, and Venture Corporation.

Selective Flows into Financials, Tech & ETFs as Conditions Tightened Monday

Singapore Telecommunications / Equity Bottom-Up

<ul><li>In 1Q26, nearly 50 Singapore-listed companies repurchased approximately S$560 million in shares, up from S$330 million in 1Q25.</li><li>Singtel, OCBC, and Keppel were the top contributors, accounting for almost three-fifths of the total buyback consideration.</li><li>Singtel's buybacks are part of a S$2 billion programme, while OCBC and Keppel focus on capital return and recycling.</li></ul>

In 1Q26, nearly 50 Singapore-listed companies repurchased approximately S$560 million in shares, up from S$330 million in 1Q25.Singtel, OCBC, and Keppel were the top contributors, accounting for almost three-fifths of the total buyback consideration.Singtel's buybacks are part of a S$2 billion programme, while OCBC and Keppel focus on capital return and recycling.

1Q26 Buyback Consideration Surpasses S$500M

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.</li><li>Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.</li><li>The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.</li></ul>

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.

<ul><li>In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024.</li><li>UOB, DBS, and OCBC led buybacks with a combined S$1.28 billion, driven by capital management initiatives and dividends.</li><li>Secondary-listed Hongkong Land repurchased US$176 million shares, while City Developments completed an off-market buyback of preference shares.</li></ul>

In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024.UOB, DBS, and OCBC led buybacks with a combined S$1.28 billion, driven by capital management initiatives and dividends.Secondary-listed Hongkong Land repurchased US$176 million shares, while City Developments completed an off-market buyback of preference shares.

Buyback Consideration Surges 80% in 2025 to S$1.65B

<ul><li>In the first five months of 2025, 63 primary-listed companies conducted S$930 million in share buybacks, up 84% from 2024.</li><li>UOB led May buybacks with S$144 million, followed by DBS at S$18 million and Olam Group at S$6 million.</li><li>STI Banks accounted for 77% of 2025 buybacks, with DBS, UOB, and OCBC launching significant buyback programs.</li></ul>

In the first five months of 2025, 63 primary-listed companies conducted S$930 million in share buybacks, up 84% from 2024.UOB led May buybacks with S$144 million, followed by DBS at S$18 million and Olam Group at S$6 million.STI Banks accounted for 77% of 2025 buybacks, with DBS, UOB, and OCBC launching significant buyback programs.

2025 Sees Strong Start to Share Buybacks 

Singapore

OCBC Bank is a Singaporean multinational banking and financial services corporation. It offers a comprehensive suite of services including consumer, corporate, investment, and private banking, alongside insurance, asset management, and stockbroking. The company is headquartered in Singapore and was founded on October 31, 1932.

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OCBC Bank (OCBC SP)

Selective Flows into Financials, Tech & ETFs as Conditions Tightened Monday

Singapore's Financial and Technology sectors experienced selective net institutional inflows, with UOB, OCBC, SGX, and UMS leading inflows. Global...

Singapore Exchange Ltd (SGX)

1Q26 Buyback Consideration Surpasses S$500M

In 1Q26, nearly 50 Singapore-listed companies repurchased approximately S$560 million in shares, up from S$330 million in 1Q25. Singtel, OCBC, and...

Singapore Exchange Ltd (SGX)

STI Books 5.6% Total Return in 1Q26

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion. Share buybacks in...

Singapore Exchange Ltd (SGX)

Buyback Consideration Surges 80% in 2025 to S$1.65B

In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024. UOB, DBS, and OCBC...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Selective Flows into Financials, Tech & ETFs as Conditions Tightened Monday

Singapore's Financial and Technology sectors experienced selective net institutional inflows, with UOB, OCBC, SGX, and UMS leading inflows. Global...

Singapore Exchange Ltd (SGX)

1Q26 Buyback Consideration Surpasses S$500M

In 1Q26, nearly 50 Singapore-listed companies repurchased approximately S$560 million in shares, up from S$330 million in 1Q25. Singtel, OCBC, and...

Singapore Exchange Ltd (SGX)

STI Books 5.6% Total Return in 1Q26

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion. Share buybacks in...

Singapore Exchange Ltd (SGX)

Buyback Consideration Surges 80% in 2025 to S$1.65B

In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024. UOB, DBS, and OCBC...

Singapore Exchange Ltd (SGX)

2025 Sees Strong Start to Share Buybacks

In the first five months of 2025, 63 primary-listed companies conducted S$930 million in share buybacks, up 84% from 2024. UOB led May buybacks...

Singapore Exchange Ltd (SGX)