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>Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged 20% total returns.</li><li>Singtel has led these five counters this year, with a 37% total return, while also seeing its 2024 ADT soar 90% from 2023 levels.</li><li>Singtel has led the net insti inflow into all local stocks this year with S$938 million of net buying.</li></ul>

Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged 20% total returns.Singtel has led these five counters this year, with a 37% total return, while also seeing its 2024 ADT soar 90% from 2023 levels.Singtel has led the net insti inflow into all local stocks this year with S$938 million of net buying.

Key Telecommunication Stocks On the Move in Singapore 

<ul><li>Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 13 to 19, with S$367 million of net institutional inflow, bringing total net inflows from the 15 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 19, to S$1.2 billion.</li><li>Financial Services, Telecommunications, Industrials and REITs have led the net institutional inflow over the 15 sessions spanning Aug 30 to Sep 19.</li><li>Seatrium also bought back 1.17 million shares, taking the cumulative percentage of issued shares (excluding treasury shares) acquired on the current mandate to 0.37 per cent.</li></ul>

Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 13 to 19, with S$367 million of net institutional inflow, bringing total net inflows from the 15 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 19, to S$1.2 billion.Financial Services, Telecommunications, Industrials and REITs have led the net institutional inflow over the 15 sessions spanning Aug 30 to Sep 19.Seatrium also bought back 1.17 million shares, taking the cumulative percentage of issued shares (excluding treasury shares) acquired on the current mandate to 0.37 per cent.

Institutions net buyers of Singapore stocks

<ul><li>Net institutional inflows into Singapore stocks continue Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 6 to 13, with S$523 million of net institutional inflow, following the S$328 million in net institutional inflow for the preceding five sessions.</li><li>Eight of the stocks also led the net institutional inflow over the preceding five sessions, with SATS and Singapore Airlines the exceptions.</li></ul>

Net institutional inflows into Singapore stocks continue Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 6 to 13, with S$523 million of net institutional inflow, following the S$328 million in net institutional inflow for the preceding five sessions.Eight of the stocks also led the net institutional inflow over the preceding five sessions, with SATS and Singapore Airlines the exceptions.

Net institutional inflows into Singapore stocks continue

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Singtel (Singapore Telecommunications) / Technical Analysis

<ul>
<li>The latest recessionary signal we see: WTI and Brent crude oil prices violating 1.5-year supports, only adding to our prior concerns about a weakening labor market (Sahm rule, SRI triggered)</li>
<li>We also discussed last week (August 29) how we were expecting the S&amp;P 500, Japan's TOPIX, and Europe's EURO STOXX 50 to "roll over near current or marginally higher levels."</li>
<li>Ongoing belief (since July 25) is that $ACWI is going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern. All have since reacted lower.</li>
</ul>


The latest recessionary signal we see: WTI and Brent crude oil prices violating 1.5-year supports, only adding to our prior concerns about a weakening labor market (Sahm rule, SRI triggered)
We also discussed last week (August 29) how we were expecting the S&amp;P 500, Japan's TOPIX, and Europe's EURO STOXX 50 to "roll over near current or marginally higher levels."
Ongoing belief (since July 25) is that $ACWI is going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern. All have since reacted lower.


Crude Oil Breaking 1.5-Year Support, Failed Breakouts on $EFA $ACWX; Still Expecting More Downside

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>In this edition, we look at OVO and Superbank in Indonesia and how they will coexist, and SCG Packaging as it increases its Indonesia exposure through Fajar Surya.</li>
<li>We also look at the implications of the recent gig worker protests in Indonesia and <a href="https://www.smartkarma.com/entities/telekomunikasi-indonesia" target="_blank" data-smartkarma-citation="entities:1051:1" rel="noopener">Telekomunikasi Indonesia</a>'s increasing focus on data centres and a strategic investor there.</li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


In this edition, we look at OVO and Superbank in Indonesia and how they will coexist, and SCG Packaging as it increases its Indonesia exposure through Fajar Surya.
We also look at the implications of the recent gig worker protests in Indonesia and Telekomunikasi Indonesia's increasing focus on data centres and a strategic investor there.
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - OVO & Superbank, SCG Packaging in Indonesia, Gig Revolt, and Data Centres

Singapore

Singapore Telecommunications Limited wireless telecommunication services. The Company offers diverse range of services including fixed, mobile, data, internet, TV,  and digital solutions. Singapore Telecommunications serves customers worldwide.

Singtel (Singapore Telecommunications) (ST SP)

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Singtel (Singapore Telecommunications) (ST SP)

Key Telecommunication Stocks On the Move in Singapore

Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged...

Singapore Exchange Ltd (SGX)

Institutions net buyers of Singapore stocks

Institutions were net buyers of Singapore stocks over the five trading sessions spanning Sep 13 to 19, with S$367 million of net institutional...

Singapore Exchange Ltd (SGX)

Net institutional inflows into Singapore stocks continue

Net institutional inflows into Singapore stocks continue Institutions were net buyers of Singapore stocks over the five trading sessions spanning...

Singapore Exchange Ltd (SGX)

Crude Oil Breaking 1.5-Year Support, Failed Breakouts on $EFA $ACWX; Still Expecting More Downside

Crude Oil Breaking Below 1.5-Year Support, Yet Another Recessionary Signal; Bearish Failed Breakouts on $EFA $ACWX; Still Expecting More Downside;...

Vermilion Research

CrossASEAN Ground Zero - OVO & Superbank, SCG Packaging in Indonesia, Gig Revolt, and Data Centres

In this edition, we look at OVO and Superbank in Indonesia and how they will coexist, and SCG Packaging as it increases its Indonesia exposure...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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