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>SGX FX and BBVA collaborate to enhance liquidity provision in Latin America, expanding SGX FX's Americas presence.</li><li>BBVA will establish a distribution engine in the NY4 data centre, providing access to major regional currencies.</li><li>The partnership leverages SGX FX's network and BBVA's LATAM expertise, promoting access to reliable liquidity in emerging markets.</li></ul>

SGX FX and BBVA collaborate to enhance liquidity provision in Latin America, expanding SGX FX's Americas presence.BBVA will establish a distribution engine in the NY4 data centre, providing access to major regional currencies.The partnership leverages SGX FX's network and BBVA's LATAM expertise, promoting access to reliable liquidity in emerging markets.

SGX FX and BBVA Announce Partnership to Expand Liquidity in The Americas

<ul><li>Over the five trading sessions from Jan 10 to Jan 16, institutions were net sellers of Singapore stocks, leading to net institutional outflow of S$184 million, reversing the S$103 million net inflow over the preceding five sessions.</li><li>Stocks that led the net institutional outflow over the five sessions through to Jan 16 were DBS Group Holdings, CapitaLand Integrated Commercial Trust, Singapore Airlines, Singapore Exchange, Genting Singapore, Venture Corporation, Oversea-Chinese Banking Corporation, Hongkong Land Holdings, Centurion Corporation, and CapitaLand Ascendas REIT.</li><li>Between Jan 14 and 15, Centurion Corporation Executive Director and Joint Chairman David Loh Kim Kang acquired 10 million shares in two married deals, at S$0.935 per share.</li></ul>

Over the five trading sessions from Jan 10 to Jan 16, institutions were net sellers of Singapore stocks, leading to net institutional outflow of S$184 million, reversing the S$103 million net inflow over the preceding five sessions.Stocks that led the net institutional outflow over the five sessions through to Jan 16 were DBS Group Holdings, CapitaLand Integrated Commercial Trust, Singapore Airlines, Singapore Exchange, Genting Singapore, Venture Corporation, Oversea-Chinese Banking Corporation, Hongkong Land Holdings, Centurion Corporation, and CapitaLand Ascendas REIT.Between Jan 14 and 15, Centurion Corporation Executive Director and Joint Chairman David Loh Kim Kang acquired 10 million shares in two married deals, at S$0.935 per share.

Centurion joint chairman David Loh raises his stake in the group

Singtel (Singapore Telecommunications) / Equity Bottom-Up

<ul><li>STI ETFs saw a 36% year-on-year AUM increase to S$3.38 billion, with S$349 million net inflows year-to-date.</li><li>STI banks' combined Non-Interest Income exceeded S$5 billion in 3Q25, with DBS, OCBC, and UOB comprising 50.4% of the Index.</li><li>ST Engineering led STI constituents with an 85% total return and a 74% target price upgrade in 2025.</li></ul>

STI ETFs saw a 36% year-on-year AUM increase to S$3.38 billion, with S$349 million net inflows year-to-date.STI banks' combined Non-Interest Income exceeded S$5 billion in 3Q25, with DBS, OCBC, and UOB comprising 50.4% of the Index.ST Engineering led STI constituents with an 85% total return and a 74% target price upgrade in 2025.

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024.</li><li>UOB, DBS, and OCBC led buybacks with a combined S$1.28 billion, driven by capital management initiatives and dividends.</li><li>Secondary-listed Hongkong Land repurchased US$176 million shares, while City Developments completed an off-market buyback of preference shares.</li></ul>

In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024.UOB, DBS, and OCBC led buybacks with a combined S$1.28 billion, driven by capital management initiatives and dividends.Secondary-listed Hongkong Land repurchased US$176 million shares, while City Developments completed an off-market buyback of preference shares.

Buyback Consideration Surges 80% in 2025 to S$1.65B

CapitaLand Ascendas REIT / Equity Bottom-Up

<ul><li>Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion.</li><li>Industrials led net institutional inflows, driven by Keppel, Yangzijiang Shipbuilding, and Seatrium, while REITs saw the largest net outflows.</li><li>mDR's average daily trading turnover increased significantly in July, narrowing its 5-day average bid-ask spread to 150 bps.</li></ul>

Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion.Industrials led net institutional inflows, driven by Keppel, Yangzijiang Shipbuilding, and Seatrium, while REITs saw the largest net outflows.mDR's average daily trading turnover increased significantly in July, narrowing its 5-day average bid-ask spread to 150 bps.

FTSE ST Industrials Outpaces STI in July with a 13.2% Gain

Singapore

Singapore Exchange Limited owns and operates Singapore's Securities and derivatives exchange and their related clearing houses.  The Company also provides ancillary securities processing and information technology services to participants in the financial sector.

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SGX (SGX SP)

SGX FX and BBVA Announce Partnership to Expand Liquidity in The Americas

SGX FX and BBVA collaborate to enhance liquidity provision in Latin America, expanding SGX FX's Americas presence. BBVA will establish a...

Singapore Exchange Ltd (SGX)

Centurion joint chairman David Loh raises his stake in the group

Over the five trading sessions from Jan 10 to Jan 16, institutions were net sellers of Singapore stocks, leading to net institutional outflow of...

Singapore Exchange Ltd (SGX)

STI Makes New High at 4,575.91

STI ETFs saw a 36% year-on-year AUM increase to S$3.38 billion, with S$349 million net inflows year-to-date. STI banks' combined Non-Interest...

Singapore Exchange Ltd (SGX)

Buyback Consideration Surges 80% in 2025 to S$1.65B

In 2025, 76 primary-listed companies in Singapore executed share buybacks totaling S$1.65 billion, an 80% increase from 2024. UOB, DBS, and OCBC...

Singapore Exchange Ltd (SGX)

FTSE ST Industrials Outpaces STI in July with a 13.2% Gain

Institutions net bought S$396.6 million in Singapore stocks in July, reducing the 7-month net outflow to S$1.67 billion. Industrials led net...

Singapore Exchange Ltd (SGX)

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