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>REIT Watch - Three S-Reits’ full-year results Among them, three reported full year financials – Keppel DC Reit (KDCReit), Sabana Industrial Reit (Sabana Reit) and Suntec Reit.</li><li>Sabana Reit, KDCReit and Suntec Reit saw year-on-year declines in DI at 7.7 per cent, 9.3 per cent and per cent respectively.</li></ul>

REIT Watch - Three S-Reits’ full-year results Among them, three reported full year financials – Keppel DC Reit (KDCReit), Sabana Industrial Reit (Sabana Reit) and Suntec Reit.Sabana Reit, KDCReit and Suntec Reit saw year-on-year declines in DI at 7.7 per cent, 9.3 per cent and per cent respectively.

REIT Watch - A sneak peek into S-Reits’ FY23 earnings

<ul><li>Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb  Frasers Centrepoint Trust (FCT) will kick off the current financial reporting season for S-Reits with the release of its first quarter (ended Dec 31, 2023) business update after the close of trading on Jan 22, 2024.</li></ul>

Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb  Frasers Centrepoint Trust (FCT) will kick off the current financial reporting season for S-Reits with the release of its first quarter (ended Dec 31, 2023) business update after the close of trading on Jan 22, 2024.

REIT Watch - 26 S-Reits confirm schedule for upcoming earnings season

<ul><li>IN THE third quarter of 2023, the Straits Times Index (STI) generated a 2.1 per cent total return, bringing its nine-month total return to 3.3 per cent.</li><li>During the quarter, the STI marginally outpaced the FTSE Asean Extended 60 Index and FTSE Asia Pacific Index, which recorded total returns of 1.1 per cent and declines of 1.1 per cent, respectively.</li><li>On the other side of the “higher-for-longer” Fed funds rate outlook, the iEdge S-Reit Index declined 4.2 per cent in total return in Q3 2023.</li></ul>

IN THE third quarter of 2023, the Straits Times Index (STI) generated a 2.1 per cent total return, bringing its nine-month total return to 3.3 per cent.During the quarter, the STI marginally outpaced the FTSE Asean Extended 60 Index and FTSE Asia Pacific Index, which recorded total returns of 1.1 per cent and declines of 1.1 per cent, respectively.On the other side of the “higher-for-longer” Fed funds rate outlook, the iEdge S-Reit Index declined 4.2 per cent in total return in Q3 2023.

REIT Watch - Three S-Reits buck the trend in September

Mapletree Industrial Trust / Equity Bottom-Up

<ul><li>While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the benchmark averaged 11.1 per cent total returns.</li><li>Of these, four were industrial Reits – AIMS Apac Reit (11.2 per cent in total returns), Mapletree Logistics Trust (9.3 per cent), Mapletree Industrial Trust (7.7 per cent), and CapitaLand Ascendas Reit (7.3 per cent).</li><li>The four industrial Reits averaged 9 per cent in total returns in the year to date and recorded combined net institutional fund inflows of S$18.9 million.</li></ul>

While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the benchmark averaged 11.1 per cent total returns.Of these, four were industrial Reits – AIMS Apac Reit (11.2 per cent in total returns), Mapletree Logistics Trust (9.3 per cent), Mapletree Industrial Trust (7.7 per cent), and CapitaLand Ascendas Reit (7.3 per cent).The four industrial Reits averaged 9 per cent in total returns in the year to date and recorded combined net institutional fund inflows of S$18.9 million.

REIT Watch - Four industrial S-Reits among best performing in the year to date

<ul><li>Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.</li></ul>

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.

REIT Watch - 17 S-Reits reporting earnings during the week

Singapore

Alpha Integrated Real Estate Investment Trust is a Singapore-listed real estate investment trust focused on high-quality industrial assets, including high-tech industrial, chemical warehouse & logistics, warehouse & logistics, and general industrial properties. It holds a diversified portfolio of 18 properties in Singapore. The company was founded in 2010 and is headquartered in Singapore.

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Alpha Integrated (SSREIT SP)

REIT Watch - A sneak peek into S-Reits’ FY23 earnings

REIT Watch - Three S-Reits’ full-year results Among them, three reported full year financials – Keppel DC Reit (KDCReit), Sabana Industrial Reit...

Singapore Exchange Ltd (SGX)

REIT Watch - 26 S-Reits confirm schedule for upcoming earnings season

Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb Frasers Centrepoint Trust (FCT) will kick off the current...

Singapore Exchange Ltd (SGX)

REIT Watch - Three S-Reits buck the trend in September

IN THE third quarter of 2023, the Straits Times Index (STI) generated a 2.1 per cent total return, bringing its nine-month total return to 3.3 per...

Singapore Exchange Ltd (SGX)

REIT Watch - Four industrial S-Reits among best performing in the year to date

While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the...

Singapore Exchange Ltd (SGX)

REIT Watch - 17 S-Reits reporting earnings during the week

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul This coming week, another 17...

Singapore Exchange Ltd (SGX)

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