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 stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows.</li><li>Financial Services led June inflow with S$683 million net buying, despite a 1H26 net outflow of S$626 million.</li><li>Technology and Industrials attracted strong 1H26 net institutional inflow, driven by interest in AI, semiconductors, and infrastructure themes.</li></ul>

Singapore stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows.Financial Services led June inflow with S$683 million net buying, despite a 1H26 net outflow of S$626 million.Technology and Industrials attracted strong 1H26 net institutional inflow, driven by interest in AI, semiconductors, and infrastructure themes.

Singapore Stocks Attract S$600M+ in Net Institutional Inflow in June

<ul><li>Singapore's trade is influenced by policy-driven flows and sector-specific demand, with electronics leading on AI demand.</li><li>Frencken Group's FY26 guidance shows improved visibility with a potential 2H26 recovery, impacting analyst recommendations.</li><li>ST Engineering, Yangzijiang Shipbuilding, and ISDN report strong orderbooks, revenue growth, and strategic shifts towards higher value offerings.</li></ul>

Singapore's trade is influenced by policy-driven flows and sector-specific demand, with electronics leading on AI demand.Frencken Group's FY26 guidance shows improved visibility with a potential 2H26 recovery, impacting analyst recommendations.ST Engineering, Yangzijiang Shipbuilding, and ISDN report strong orderbooks, revenue growth, and strategic shifts towards higher value offerings.

Engineering, Orderbooks and Guidance Under Trade Shifts

<ul><li>The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year.</li><li>Marco Polo Marine and Hong Leong Asia ranked among top 10 stocks for 2025 returns and institutional inflows.</li><li>Sanli Environmental's 2H25 ADT surged nearly 75 times, while Soilbuild Construction Group saw a 26-fold increase.</li></ul>

The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year.Marco Polo Marine and Hong Leong Asia ranked among top 10 stocks for 2025 returns and institutional inflows.Sanli Environmental's 2H25 ADT surged nearly 75 times, while Soilbuild Construction Group saw a 26-fold increase.

FTSE ST Industrials Index Powered Ahead with 44% Total Return in 2025

<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>Institutions were net sellers of Singapore stocks, leading to a net outflow of S$217 million from Feb 14-20.</li><li>SIA Engineering's 9M FY2025 revenue rose 11.8% to S$901 million, with a profit turnaround to S$8.1 million.</li><li>UOB announced a S$2 billion share buyback programme, part of a S$3 billion capital distribution strategy.</li></ul>

Institutions were net sellers of Singapore stocks, leading to a net outflow of S$217 million from Feb 14-20.SIA Engineering's 9M FY2025 revenue rose 11.8% to S$901 million, with a profit turnaround to S$8.1 million.UOB announced a S$2 billion share buyback programme, part of a S$3 billion capital distribution strategy.

Wee Ee Cheong raises UOB stake after FY2024 record net profit

Singapore

Singapore Airlines is the flag carrier of Singapore, offering full-service international passenger and cargo air transportation. It operates a dual-brand strategy with its premium services and the low-cost carrier Scoot, serving numerous destinations globally. The company is headquartered in Airline House, Changi, Singapore, and was incorporated in 1972.

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Singapore Airlines (SIA SP)

Singapore Stocks Attract S$600M+ in Net Institutional Inflow in June

Singapore stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows. Financial Services led June...

Singapore Exchange Ltd (SGX)

Engineering, Orderbooks and Guidance Under Trade Shifts

Singapore's trade is influenced by policy-driven flows and sector-specific demand, with electronics leading on AI demand. Frencken Group's FY26...

Singapore Exchange Ltd (SGX)

FTSE ST Industrials Index Powered Ahead with 44% Total Return in 2025

The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year. Marco Polo Marine and Hong...

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)

Wee Ee Cheong raises UOB stake after FY2024 record net profit

Institutions were net sellers of Singapore stocks, leading to a net outflow of S$217 million from Feb 14-20. SIA Engineering's 9M FY2025 revenue...

Singapore Exchange Ltd (SGX)

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