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 sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million.</li><li>United Overseas Bank led share buybacks, acquiring 997,700 shares at an average price of S$34.01, totaling S$58.2 million.</li><li>Wing Tai Holdings' Cheng Wai Keung increased his interest to 62.24%, while Banyan Tree Holdings' Goodview Properties raised its stake to 6.06%.</li></ul>

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million.United Overseas Bank led share buybacks, acquiring 997,700 shares at an average price of S$34.01, totaling S$58.2 million.Wing Tai Holdings' Cheng Wai Keung increased his interest to 62.24%, while Banyan Tree Holdings' Goodview Properties raised its stake to 6.06%.

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

<ul><li>Institutions recorded a net inflow of S$236 million in Singapore stocks from Nov 7 to Nov 13, reversing prior outflows.</li><li>United Overseas Bank led share buybacks with 1,071,900 shares at an average price of S$33.95, totaling S$56.5 million.</li><li>Fuxing China Group raised S$1.245 million through a placement of 3 million shares at S$0.415 each.</li></ul>

Institutions recorded a net inflow of S$236 million in Singapore stocks from Nov 7 to Nov 13, reversing prior outflows.United Overseas Bank led share buybacks with 1,071,900 shares at an average price of S$33.95, totaling S$56.5 million.Fuxing China Group raised S$1.245 million through a placement of 3 million shares at S$0.415 each.

Tan Kok Huat, CEO of Reclaims Global, Boosts Stake

<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 

<ul><li>Institutions were net sellers of Singapore stocks with a net outflow of S$592 million from Sep 19 to 25.</li><li>Food Empire Holdings raised S$42.8 million by placing 17 million treasury shares at S$2.52 each on Sep 24.</li><li>Prime US REIT launched a private placement to raise at least US$25 million, issuing new units at US$0.1935.</li></ul>

Institutions were net sellers of Singapore stocks with a net outflow of S$592 million from Sep 19 to 25.Food Empire Holdings raised S$42.8 million by placing 17 million treasury shares at S$2.52 each on Sep 24.Prime US REIT launched a private placement to raise at least US$25 million, issuing new units at US$0.1935.

The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

Thematic (Sector/Industry)

<ul><li>It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio while earnings per share has stayed relatively stable. </li><li>In our view, the upward re-rating has come on the back of several key developments. • On the external front, the US will charge Singapore the baseline tariff rate of 10%. While tariffs work against every US trading partner, on a relative basis, Singapore compares well with most other countries.</li><li>Also, amid concerns over US policies and the outlook for the US dollar. anecdotal evidence points to capital flows into Singapore.</li></ul>

It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio while earnings per share has stayed relatively stable. In our view, the upward re-rating has come on the back of several key developments. • On the external front, the US will charge Singapore the baseline tariff rate of 10%. While tariffs work against every US trading partner, on a relative basis, Singapore compares well with most other countries.Also, amid concerns over US policies and the outlook for the US dollar. anecdotal evidence points to capital flows into Singapore.

Singapore

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

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Wing Tai Holdings (WINGT SP)

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million. United Overseas Bank led share...

Singapore Exchange Ltd (SGX)

Tan Kok Huat, CEO of Reclaims Global, Boosts Stake

Institutions recorded a net inflow of S$236 million in Singapore stocks from Nov 7 to Nov 13, reversing prior outflows. United Overseas Bank led...

Singapore Exchange Ltd (SGX)

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)

Singapore Equity Strategy: August 2025

It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio...

Wealth Management Alliance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million. United Overseas Bank led share...

Singapore Exchange Ltd (SGX)

Tan Kok Huat, CEO of Reclaims Global, Boosts Stake

Institutions recorded a net inflow of S$236 million in Singapore stocks from Nov 7 to Nov 13, reversing prior outflows. United Overseas Bank led...

Singapore Exchange Ltd (SGX)

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)

Rising Spotlight on Share Placements

Institutions were net sellers of Singapore stocks with a net outflow of S$592 million from Sep 19 to 25. Food Empire Holdings raised S$42.8...

Singapore Exchange Ltd (SGX)

Singapore Equity Strategy: August 2025

It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio...

Wealth Management Alliance