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>Institutions were net buyers of Singapore stocks with S$275 million inflow, led by DBS Group and CapitaLand Integrated Commercial Trust.</li><li>Oversea-Chinese Banking Corporation led share buybacks with 1.25 million shares; Hongkong Land increased buyback mandate to US$193 million.</li><li>Wilmar International's chairman increased his stake to 14.39%; Centurion Corporation expanded Malaysian portfolio by 25% with Harum Megah acquisition.</li></ul>

Institutions were net buyers of Singapore stocks with S$275 million inflow, led by DBS Group and CapitaLand Integrated Commercial Trust.Oversea-Chinese Banking Corporation led share buybacks with 1.25 million shares; Hongkong Land increased buyback mandate to US$193 million.Wilmar International's chairman increased his stake to 14.39%; Centurion Corporation expanded Malaysian portfolio by 25% with Harum Megah acquisition.

Wilmar Chair & Centurion Joint Chair Han Seng Juan Up Stakes 

GROW with Singlife, Navigator Investment Services

GROW with Singlife

Navigator Investment Services

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Thematic (Sector/Industry)

<ul><li>Food consumption in Singapore remains broadly non-cyclical, anchored by steady household demand across income segments. This defensive earnings base is now complemented by structural growth drivers.</li><li>Policy support remains central to the sector’s evolution. Initiatives such as the Singapore Food Story 2, the Green Plan 2030, and AgriFood Cluster Transformation Fund are fostering investment in local production, food innovation, and ESG adoption.</li><li>Singapore’s F&amp;B brands are leveraging their reputation for quality, safety, and design-led branding to penetrate fast-growing ASEAN markets.</li></ul>

Food consumption in Singapore remains broadly non-cyclical, anchored by steady household demand across income segments. This defensive earnings base is now complemented by structural growth drivers.Policy support remains central to the sector’s evolution. Initiatives such as the Singapore Food Story 2, the Green Plan 2030, and AgriFood Cluster Transformation Fund are fostering investment in local production, food innovation, and ESG adoption.Singapore’s F&amp;B brands are leveraging their reputation for quality, safety, and design-led branding to penetrate fast-growing ASEAN markets.

Beyond the Plate: Food & Beverage Sector in Singapore

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.</li><li>Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.</li><li>The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.</li></ul>

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.

<ul><li>Institutions were net sellers of Singapore stocks with a S$445 million outflow, totaling S$1.99 billion in 2025.</li><li>32 companies conducted share buybacks worth S$205 million, led by DBS Group Holdings with 3 million shares.</li><li>Directors and substantial shareholders filed 28 acquisitions and one disposal, with significant transactions in Wilmar International and Frencken Group.</li></ul>

Institutions were net sellers of Singapore stocks with a S$445 million outflow, totaling S$1.99 billion in 2025.32 companies conducted share buybacks worth S$205 million, led by DBS Group Holdings with 3 million shares.Directors and substantial shareholders filed 28 acquisitions and one disposal, with significant transactions in Wilmar International and Frencken Group.

Surge in Director Acquisitions and Share Buybacks

<ul><li>Singapore stocks recorded S$39 million in net institutional inflows, marking the first net buying since January's last week.</li><li>Industrials and Consumer Non-Cyclicals sectors reversed previous net outflows with significant inflows, led by ST Engineering and Wilmar International.</li><li>ISDN Holdings' share price rose 12.9% after reporting a 72% increase in FY24 attributable net profit.</li></ul>

Singapore stocks recorded S$39 million in net institutional inflows, marking the first net buying since January's last week.Industrials and Consumer Non-Cyclicals sectors reversed previous net outflows with significant inflows, led by ST Engineering and Wilmar International.ISDN Holdings' share price rose 12.9% after reporting a 72% increase in FY24 attributable net profit.

Institutional Investors Book Highest Net Weekly Inflows Since December

Singapore

Wilmar International is Asia's leading agribusiness group, operating an integrated model across the agricultural commodity business. Its activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, and manufacturing of consumer products, specialty fats, oleochemicals, biodiesel, and fertilizers. The company was founded in 1991 and is headquartered in Singapore.

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Wilmar International (WIL SP)

Wilmar Chair & Centurion Joint Chair Han Seng Juan Up Stakes

Institutions were net buyers of Singapore stocks with S$275 million inflow, led by DBS Group and CapitaLand Integrated Commercial...

Singapore Exchange Ltd (SGX)

Beyond the Plate: Food & Beverage Sector in Singapore

With rising ESG standards and innovation-driven competitiveness, Singapore’s F&B sector stands out as a resilient and underappreciated growth story...

GROW with Singlife

STI Books 5.6% Total Return in 1Q26

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion. Share buybacks in...

Singapore Exchange Ltd (SGX)

Institutional Investors Book Highest Net Weekly Inflows Since December

Singapore stocks recorded S$39 million in net institutional inflows, marking the first net buying since January's last week. Industrials and...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Wilmar Chair & Centurion Joint Chair Han Seng Juan Up Stakes

Institutions were net buyers of Singapore stocks with S$275 million inflow, led by DBS Group and CapitaLand Integrated Commercial...

Singapore Exchange Ltd (SGX)

Beyond the Plate: Food & Beverage Sector in Singapore

With rising ESG standards and innovation-driven competitiveness, Singapore’s F&B sector stands out as a resilient and underappreciated growth story...

GROW with Singlife

STI Books 5.6% Total Return in 1Q26

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion. Share buybacks in...

Singapore Exchange Ltd (SGX)

Surge in Director Acquisitions and Share Buybacks

Institutions were net sellers of Singapore stocks with a S$445 million outflow, totaling S$1.99 billion in 2025. 32 companies conducted share...

Singapore Exchange Ltd (SGX)

Institutional Investors Book Highest Net Weekly Inflows Since December

Singapore stocks recorded S$39 million in net institutional inflows, marking the first net buying since January's last week. Industrials and...

Singapore Exchange Ltd (SGX)