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

Boustead Singapore Limited / Equity Bottom-Up

<ul><li>Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%.</li><li>The iEdge Next 50 Index's technology stocks recorded S$179 million net institutional inflow in 2H25, led by iFAST.</li><li>China Sunsine's ADT increased to S$606k in 2025, with a 10.4% ROE and 7.6x P/E ratio.</li></ul>

Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%.The iEdge Next 50 Index's technology stocks recorded S$179 million net institutional inflow in 2H25, led by iFAST.China Sunsine's ADT increased to S$606k in 2025, with a 10.4% ROE and 7.6x P/E ratio.

Growth in Motion: China Sunsine Married Deal & Next 50 Momentum

<ul><li>Food Empire Holdings raised S$42.8 million through a treasury share placement, increasing its issued share capital to 546.8 million shares.</li><li>Nine in 10 constituents of the iEdge Singapore Next 50 Index saw higher average daily trading turnover in 3Q25.</li><li>The iEdge Singapore Next 50 Index constituents recorded a net institutional inflow of S$45 million in 3Q25.</li></ul>

Food Empire Holdings raised S$42.8 million through a treasury share placement, increasing its issued share capital to 546.8 million shares.Nine in 10 constituents of the iEdge Singapore Next 50 Index saw higher average daily trading turnover in 3Q25.The iEdge Singapore Next 50 Index constituents recorded a net institutional inflow of S$45 million in 3Q25.

New Index Stocks Leading Value and Liquidity Expansion in 3Q25

<ul><li>Over 30 Singapore stocks increased their 2025 YTD ADT to above S$100K, with two-thirds seeing P/B ratio accretion.  </li><li>Seven stocks saw their YTD ADT rise above S$1 million since June, with varied valuation accretion.  </li><li>LHT Holdings recorded the highest net institutional inflow, attributed to DH Cornerstone Fund's 18.45% stake acquisition.  </li></ul>

Over 30 Singapore stocks increased their 2025 YTD ADT to above S$100K, with two-thirds seeing P/B ratio accretion.  Seven stocks saw their YTD ADT rise above S$1 million since June, with varied valuation accretion.  LHT Holdings recorded the highest net institutional inflow, attributed to DH Cornerstone Fund's 18.45% stake acquisition.  

Stocks Surpassing Turnover Thresholds in 3Q25

<ul><li>Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date.</li><li>19 companies conducted share buybacks totaling S$46 million; City Developments announced a 10% preference share buyback.</li><li>Directors and CEOs filed 13 acquisitions with no disposals; substantial shareholders filed 11 acquisitions and five disposals.</li></ul>

Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date.19 companies conducted share buybacks totaling S$46 million; City Developments announced a 10% preference share buyback.Directors and CEOs filed 13 acquisitions with no disposals; substantial shareholders filed 11 acquisitions and five disposals.

<ul><li>Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.</li><li>This increased his total interest from 53.27 per cent to 53.61 per cent.</li><li>This followed his acquisition of 4.5 million shares between Feb 27 and 28.</li></ul>

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.This increased his total interest from 53.27 per cent to 53.61 per cent.This followed his acquisition of 4.5 million shares between Feb 27 and 28.

Director Filings & Buybacks Continue Stronger Pace

Singapore

Propnex Limited operates as a real estate agency. The Company offers business strategies, consultation, training, marketing support, and technological innovations for real estate sector, as buying, selling, and renting of properties. Propnex serves customers in Singapore, Indonesia, and Malaysia.

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Propnex Ltd (PROP SP)

Growth in Motion: China Sunsine Married Deal & Next 50 Momentum

Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%. The iEdge Next 50 Index's technology...

Singapore Exchange Ltd (SGX)

New Index Stocks Leading Value and Liquidity Expansion in 3Q25

Food Empire Holdings raised S$42.8 million through a treasury share placement, increasing its issued share capital to 546.8 million shares. Nine...

Singapore Exchange Ltd (SGX)

Stocks Surpassing Turnover Thresholds in 3Q25

Over 30 Singapore stocks increased their 2025 YTD ADT to above S$100K, with two-thirds seeing P/B ratio accretion. Seven stocks saw their YTD...

Singapore Exchange Ltd (SGX)

Director Filings & Buybacks Continue Stronger Pace

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Growth in Motion: China Sunsine Married Deal & Next 50 Momentum

Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%. The iEdge Next 50 Index's technology...

Singapore Exchange Ltd (SGX)

New Index Stocks Leading Value and Liquidity Expansion in 3Q25

Food Empire Holdings raised S$42.8 million through a treasury share placement, increasing its issued share capital to 546.8 million shares. Nine...

Singapore Exchange Ltd (SGX)

Stocks Surpassing Turnover Thresholds in 3Q25

Over 30 Singapore stocks increased their 2025 YTD ADT to above S$100K, with two-thirds seeing P/B ratio accretion. Seven stocks saw their YTD...

Singapore Exchange Ltd (SGX)

Ongoing Share Purchases by Dr Ng in Q&M

Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date. 19 companies conducted share...

Singapore Exchange Ltd (SGX)

Director Filings & Buybacks Continue Stronger Pace

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through...

Singapore Exchange Ltd (SGX)