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>Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.</li><li>This increased his total interest from 53.27 per cent to 53.61 per cent.</li><li>This followed his acquisition of 4.5 million shares between Feb 27 and 28.</li></ul>

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.This increased his total interest from 53.27 per cent to 53.61 per cent.This followed his acquisition of 4.5 million shares between Feb 27 and 28.

Director Filings & Buybacks Continue Stronger Pace

<ul><li>REIT Watch - S-Reits actively enhance funding measures Since start of 2024, at least eight S-Reits and property trusts have announced plans to tap on debt facilities or raise funds via the secondary market.</li><li>Both Daiwa House Logistics Trust (DHLT) and ESR-Logos Reit (E-Log) announced new investments in the Japan market this year, to be funded via debt facilities.</li></ul>

REIT Watch - S-Reits actively enhance funding measures Since start of 2024, at least eight S-Reits and property trusts have announced plans to tap on debt facilities or raise funds via the secondary market.Both Daiwa House Logistics Trust (DHLT) and ESR-Logos Reit (E-Log) announced new investments in the Japan market this year, to be funded via debt facilities.

REIT Watch - S-Reits actively enhance funding measures

Mapletree Industrial Trust / Equity Bottom-Up

<ul><li>While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the benchmark averaged 11.1 per cent total returns.</li><li>Of these, four were industrial Reits – AIMS Apac Reit (11.2 per cent in total returns), Mapletree Logistics Trust (9.3 per cent), Mapletree Industrial Trust (7.7 per cent), and CapitaLand Ascendas Reit (7.3 per cent).</li><li>The four industrial Reits averaged 9 per cent in total returns in the year to date and recorded combined net institutional fund inflows of S$18.9 million.</li></ul>

While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the benchmark averaged 11.1 per cent total returns.Of these, four were industrial Reits – AIMS Apac Reit (11.2 per cent in total returns), Mapletree Logistics Trust (9.3 per cent), Mapletree Industrial Trust (7.7 per cent), and CapitaLand Ascendas Reit (7.3 per cent).The four industrial Reits averaged 9 per cent in total returns in the year to date and recorded combined net institutional fund inflows of S$18.9 million.

REIT Watch - Four industrial S-Reits among best performing in the year to date

CapitaLand Ascendas REIT / Equity Bottom-Up

<ul><li>Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M)  Some of the top net buy sectors by retail investors were diversified Reits (+S$104.8 million), hospitality Reits (+S$40.6 million), and industrial Reits (+S$22.0 million).</li></ul>

Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M)  Some of the top net buy sectors by retail investors were diversified Reits (+S$104.8 million), hospitality Reits (+S$40.6 million), and industrial Reits (+S$22.0 million).

REIT Watch - Retail and institutions net buy industrial and retail S-Reits in August

<ul><li>In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.</li><li>However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.</li><li>They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.</li></ul>

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

Singapore

ESR-LOGOS Real Estate Investment Trust (“ESR-LOGOS REIT”) is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-LOGOS REIT invests in quality income-producing industrial properties in key gateway markets.

As at 28 April 2022, ESR-LOGOS REIT holds interests in a diversified portfolio of logistics properties, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$5.5 billion. Its portfolio comprises 84 properties located across the developed markets of Singapore (63 assets) and Australia (21 assets), with a total gross floor area of approximately 2.4 million sqm, as well as investments in three property funds in Australia. ESR-LOGOS REIT is also a constituent of the FTSE EPRA Nareit Global Real Estate Index. 

ESR-LOGOS REIT is managed by ESR-LOGOS Funds Management (S) Limited (the “Manager”) and sponsored by the ESR Group (“ESR”). The Manager is owned by ESR (67.3%), Shanghai Summit Pte. Ltd. (25.0%), and Mitsui & Co., Ltd (7.7%), respectively.

For further information on ESR-LOGOS REIT, please visit www.esr-logosreit.com.sg.

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ESR-LOGOS REIT (EREIT SP)

Director Filings & Buybacks Continue Stronger Pace

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits actively enhance funding measures

REIT Watch - S-Reits actively enhance funding measures Since start of 2024, at least eight S-Reits and property trusts have announced plans to tap...

Singapore Exchange Ltd (SGX)

REIT Watch - Four industrial S-Reits among best performing in the year to date

While the iEdge S-Reit Index (benchmark for the S-Reits cluster) returned flat in the year to date, the top 10 performing S-Reits within the...

Singapore Exchange Ltd (SGX)

REIT Watch - Retail and institutions net buy industrial and retail S-Reits in August

Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M) Some of the top net buy sectors by retail investors...

Singapore Exchange Ltd (SGX)

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4...

Singapore Exchange Ltd (SGX)

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