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>Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market Business Update  CapitaLand Integrated Commercial Trust 5-Nov Before Market Business Update 5-Nov Before Market Business Update 5-Nov Before Market Financial Results.</li></ul>

Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market Business Update  CapitaLand Integrated Commercial Trust 5-Nov Before Market Business Update 5-Nov Before Market Business Update 5-Nov Before Market Financial Results.

REIT Watch – S-REITs announce their schedule for upcoming earnings season

<ul><li>After the recent softening in jobs data and inflation figures, the US Federal Reserve declared its first rate reduction in four years, decreasing the overnight borrowing rate by 50 basis points or half a percentage point, in line with market expectations.</li><li>The Fed has indicated additional rate cuts, forecasting another 50 basis points this year, a full percentage point in 2025, and half a percentage point in 2026.</li><li>Similarly, the five S-REITs that recorded largest net retail inflows were Frasers Centrepoint Trust, ESR-LOGOS REIT, Paragon REIT, Mapletree Industrial Trust, and CapitaLand Ascendas REIT.</li></ul>

After the recent softening in jobs data and inflation figures, the US Federal Reserve declared its first rate reduction in four years, decreasing the overnight borrowing rate by 50 basis points or half a percentage point, in line with market expectations.The Fed has indicated additional rate cuts, forecasting another 50 basis points this year, a full percentage point in 2025, and half a percentage point in 2026.Similarly, the five S-REITs that recorded largest net retail inflows were Frasers Centrepoint Trust, ESR-LOGOS REIT, Paragon REIT, Mapletree Industrial Trust, and CapitaLand Ascendas REIT.

REIT Watch - S-Reits gain 1.7% after Fed’s rate cut

First Real Estate Investment Trust / Equity Bottom-Up

First Real Estate Investment Trust (FIRT SP)

<ul><li>Healthcare S-Reits stay defensive with robust fundamentals JLL’s latest Healthcare Real Estate Outlook report also identified that healthcare-related assets remain one of the most resilient commercial real estate sectors.</li><li>Notably, Parkway Life Reit (PLife) and First Reit are two listed healthcare Singapore Reits (S-Reits) that invest in income-producing, healthcare-related commercial properties in both Singapore and overseas markets such as Japan, Indonesia and Malaysia.</li></ul>

Healthcare S-Reits stay defensive with robust fundamentals JLL’s latest Healthcare Real Estate Outlook report also identified that healthcare-related assets remain one of the most resilient commercial real estate sectors.Notably, Parkway Life Reit (PLife) and First Reit are two listed healthcare Singapore Reits (S-Reits) that invest in income-producing, healthcare-related commercial properties in both Singapore and overseas markets such as Japan, Indonesia and Malaysia.

REIT Watch - Healthcare S-Reits stay defensive with robust fundamentals

<ul><li>REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two listed healthcare S-Reits as well – First Reit and ParkwayLife Reit (PLife Reit).</li><li>PLife Reit announced a DPU of 14.77 Singapore cents for the full year 2023, a 2.7 per cent increase year on year.</li></ul>

REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two listed healthcare S-Reits as well – First Reit and ParkwayLife Reit (PLife Reit).PLife Reit announced a DPU of 14.77 Singapore cents for the full year 2023, a 2.7 per cent increase year on year.

REIT Watch - Healthcare S-Reits outperform in February

<ul><li>THE iEdge S-Reit Index declined 5.6 per cent on a total return basis in the year to date, with declines also recorded in the FTSE EPRA Nareit Index series which track global Reits.</li><li>The 10 S-Reits which recorded largest net retail inflows in the year to date were Mapletree Logistics Trust, Keppel DC Reit, CapitaLand Ascendas Reit, Mapletree Pan Asia Commercial Trust, CapitaLand China Trust, CapitaLand Ascott Trust, CapitaLand Integrated Commercial Trust, Frasers Logistics & Commercial Trust, CDL Hospitality Trusts, and ParkwayLife Reit.</li><li>These 10 S-Reits contribute S$250 million in net retail inflows, or nearly 90 per cent of the combined net retail inflows in the year to date.</li></ul>

THE iEdge S-Reit Index declined 5.6 per cent on a total return basis in the year to date, with declines also recorded in the FTSE EPRA Nareit Index series which track global Reits.The 10 S-Reits which recorded largest net retail inflows in the year to date were Mapletree Logistics Trust, Keppel DC Reit, CapitaLand Ascendas Reit, Mapletree Pan Asia Commercial Trust, CapitaLand China Trust, CapitaLand Ascott Trust, CapitaLand Integrated Commercial Trust, Frasers Logistics & Commercial Trust, CDL Hospitality Trusts, and ParkwayLife Reit.These 10 S-Reits contribute S$250 million in net retail inflows, or nearly 90 per cent of the combined net retail inflows in the year to date.

REIT Watch - 10 S-Reits that top retail net inflows in the year to date

Singapore

Parkway Life is a Singapore-based real estate investment trust that invests primarily in income-producing healthcare and healthcare-related properties across the Asia-Pacific region. Its portfolio includes hospitals, nursing homes, and facilities for healthcare research and pharmaceutical manufacturing, which it leases to operators. The company was founded in 2007 and is headquartered in Singapore.

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Parkway Life (PREIT SP)

REIT Watch – S-REITs announce their schedule for upcoming earnings season

Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits gain 1.7% after Fed’s rate cut

After the recent softening in jobs data and inflation figures, the US Federal Reserve declared its first rate reduction in four years, decreasing...

Singapore Exchange Ltd (SGX)

REIT Watch - Healthcare S-Reits stay defensive with robust fundamentals

Healthcare S-Reits stay defensive with robust fundamentals JLL’s latest Healthcare Real Estate Outlook report also identified that...

Singapore Exchange Ltd (SGX)

REIT Watch - Healthcare S-Reits outperform in February

REIT Watch - Healthcare S-Reits outperform in February The resilience of the segment can be seen from the price performance of Singapore’s two...

Singapore Exchange Ltd (SGX)

REIT Watch - 10 S-Reits that top retail net inflows in the year to date

THE iEdge S-Reit Index declined 5.6 per cent on a total return basis in the year to date, with declines also recorded in the FTSE EPRA Nareit...

Singapore Exchange Ltd (SGX)

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