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>Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.</li><li>iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.</li><li>City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.</li></ul>

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.

New STI Highs Extends 2025 Total Return to 20%

<ul><li>The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.</li><li>The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.</li><li>iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.</li></ul>

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.

Recent Highlights of the FTSE ST Mid & Small Cap Index

<ul><li>Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025.  </li><li>Telecommunications and REITs saw highest net outflows; Financial Services and Industrials experienced significant net inflows.  </li><li>18 companies conducted share buybacks totaling S$45 million; Hongkong Land repurchased 1,563,300 shares at US$5.24 each.</li></ul>

Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025.  Telecommunications and REITs saw highest net outflows; Financial Services and Industrials experienced significant net inflows.  18 companies conducted share buybacks totaling S$45 million; Hongkong Land repurchased 1,563,300 shares at US$5.24 each.

Independent Director Chua Kee Lock Acquires Venture Shares on Open Market

<ul><li>Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27.  </li><li>Venture Corporation bought back 203,000 shares at S$12.51, accelerating its Share Buyback Plan from February 21.  </li><li>ISOTeam's 1HFY25 revenue increased 4.2% to S$65.3 million, with A&A contributing 46% of total revenue.</li></ul>

Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27.  Venture Corporation bought back 203,000 shares at S$12.51, accelerating its Share Buyback Plan from February 21.  ISOTeam's 1HFY25 revenue increased 4.2% to S$65.3 million, with A&A contributing 46% of total revenue.

Buyback Consideration Notches Higher; ISOTeam CEO Increases Stake

<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

Singapore

Venture Corporation is a leading global provider of technology services, products, and solutions, offering capabilities in research and development, product industrialization, advanced manufacturing, and supply chain management. The company serves diverse technology domains such as life sciences, MedTech, lifestyle and wellness, smart industrial, and next-gen communications. Headquartered in Singapore, Venture Corporation was established in 1989.

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Venture Corporation (VMS SP)

New STI Highs Extends 2025 Total Return to 20%

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion. iFAST's UK-based...

Singapore Exchange Ltd (SGX)

Recent Highlights of the FTSE ST Mid & Small Cap Index

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain. The Index saw S$382 million...

Singapore Exchange Ltd (SGX)

Independent Director Chua Kee Lock Acquires Venture Shares on Open Market

Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025. Telecommunications and REITs saw...

Singapore Exchange Ltd (SGX)

Buyback Consideration Notches Higher; ISOTeam CEO Increases Stake

Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27. Venture Corporation bought back 203,000...

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)

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