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 Mid-cap stocks have a combined market capitalisation of S$75 billion and attracted S$71 million net institutional inflows.</li><li>Yangzijiang Financial Holding's ADT increased to S$14.1 million, with a 61% share price gain and S$94.3 million net institutional inflow.</li><li>Sheng Siong Group maintains a 26.7% ROE, with consistent ADT and a 4.5% revenue increase in FY24.</li></ul>

Singapore Mid-cap stocks have a combined market capitalisation of S$75 billion and attracted S$71 million net institutional inflows.Yangzijiang Financial Holding's ADT increased to S$14.1 million, with a 61% share price gain and S$94.3 million net institutional inflow.Sheng Siong Group maintains a 26.7% ROE, with consistent ADT and a 4.5% revenue increase in FY24.

Trading Activity Rises for Singapore's Mid-Cap Stocks in 1Q25

<ul><li>SIA Engineering, UOL, Sheng Siong, Raffles Medical, and DFI Retail Group led FTSE ST Mid Cap Index in 1H25.  </li><li>Sheng Siong maintains the highest ROE at 26.7% among FTSE ST Mid Cap Index constituents as of June 25, 2025.  </li><li>ParkwayLife REIT achieved a 10.5% total return in 2025, driven by new acquisitions and step-up leases.</li></ul>

SIA Engineering, UOL, Sheng Siong, Raffles Medical, and DFI Retail Group led FTSE ST Mid Cap Index in 1H25.  Sheng Siong maintains the highest ROE at 26.7% among FTSE ST Mid Cap Index constituents as of June 25, 2025.  ParkwayLife REIT achieved a 10.5% total return in 2025, driven by new acquisitions and step-up leases.

Five Stocks that Led the FTSE ST Mid Cap Index in 1H25

<ul><li>The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI's 2.9%.</li><li>Retail investors net sold S$280 million in Singapore stocks in May, while institutions net bought S$306,522.</li><li>Singapore Airlines was the most net sold stock by retail, gaining 7% in May, with a record S$2.8 billion net profit.</li></ul>

The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI's 2.9%.Retail investors net sold S$280 million in Singapore stocks in May, while institutions net bought S$306,522.Singapore Airlines was the most net sold stock by retail, gaining 7% in May, with a record S$2.8 billion net profit.

25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close, with S$31.5 million of net institutional inflow.</li><li>Leading the net institutional inflow over the four sessions were Singapore Exchange, Singapore Telecommunications, Yangzijiang Shipbuilding (Holdings), Jardine Cycle & Carriage, CapitaLand Ascendas REIT, Sembcorp Industries, Keppel DC REIT, Sheng Siong Group, ComfortDelGro Corporation, and CapitaLand Integrated Commercial Trust.</li><li>On August 12, IFS Capital Executive Director & Group CEO Randy Sim Cheng Leong acquired 1.1 million shares at an average price of S$0.11 per share.</li></ul>

Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close, with S$31.5 million of net institutional inflow.Leading the net institutional inflow over the four sessions were Singapore Exchange, Singapore Telecommunications, Yangzijiang Shipbuilding (Holdings), Jardine Cycle & Carriage, CapitaLand Ascendas REIT, Sembcorp Industries, Keppel DC REIT, Sheng Siong Group, ComfortDelGro Corporation, and CapitaLand Integrated Commercial Trust.On August 12, IFS Capital Executive Director & Group CEO Randy Sim Cheng Leong acquired 1.1 million shares at an average price of S$0.11 per share.

SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake

<ul><li>Global consumer non-cyclical stocks have ranked among the three most strongest performing sectors since the global spotlight on US regional banks began on 9 March through to 5 May.</li><li>At the same time, the consumer cyclical sector has ranked among the three most strongest performing sectors since the beginning of 2023.</li><li>Over the past 17 weeks, Golden Agri-Resources ranked as Singapore’s fifth most traded consumer stock while booking the tenth highest net institutional inflow across the Singapore stock market and generating a 6% total return.</li></ul>

Global consumer non-cyclical stocks have ranked among the three most strongest performing sectors since the global spotlight on US regional banks began on 9 March through to 5 May.At the same time, the consumer cyclical sector has ranked among the three most strongest performing sectors since the beginning of 2023.Over the past 17 weeks, Golden Agri-Resources ranked as Singapore’s fifth most traded consumer stock while booking the tenth highest net institutional inflow across the Singapore stock market and generating a 6% total return.

Singapore

Sheng Siong Group Ltd is a retailer in Singapore.  The Company operates a groceries chain across Singapore. Sheng Siong's stores provide fresh and chilled produce, seafood, meat and vegetables, processed, packaged and preserved food products as well as general merchandise such as toiletries and essential household items.

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Sheng Siong (SSG SP)

Trading Activity Rises for Singapore's Mid-Cap Stocks in 1Q25

Singapore Mid-cap stocks have a combined market capitalisation of S$75 billion and attracted S$71 million net institutional inflows. Yangzijiang...

Singapore Exchange Ltd (SGX)

Five Stocks that Led the FTSE ST Mid Cap Index in 1H25

SIA Engineering, UOL, Sheng Siong, Raffles Medical, and DFI Retail Group led FTSE ST Mid Cap Index in 1H25. Sheng Siong maintains the highest...

Singapore Exchange Ltd (SGX)

25 Most Net Sold Stocks by Retail in May Averaged 9% Total Returns

The 25 Singapore stocks most net sold by retail in May averaged 8.5% total returns, outperforming the STI's 2.9%. Retail investors net sold S$280...

Singapore Exchange Ltd (SGX)

SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake

Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close,...

Singapore Exchange Ltd (SGX)

Recent Consumer Sector Highlights

Global consumer non-cyclical stocks have ranked among the three most strongest performing sectors since the global spotlight on US regional banks...

Singapore Exchange Ltd (SGX)

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