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

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return.</li><li>Singapore’s 100 most actively traded stocks booked S$712 million of net fund inflow in November, with Banks, Consumer Cyclicals and the Telecommunication Sectors leading the net fund inflow, while the REIT, Energy and Healthcare Sectors booked the most net fund outflows.</li><li>The 100 stocks also booked S$712 million of net fund inflow in November, bringing the net fund inflow for the 100 stocks over the past 11 months to S$1.18 billion.</li></ul>

The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return.Singapore’s 100 most actively traded stocks booked S$712 million of net fund inflow in November, with Banks, Consumer Cyclicals and the Telecommunication Sectors leading the net fund inflow, while the REIT, Energy and Healthcare Sectors booked the most net fund outflows.The 100 stocks also booked S$712 million of net fund inflow in November, bringing the net fund inflow for the 100 stocks over the past 11 months to S$1.18 billion.

Most Actives Average 7% Total Return in Nov, on S$700M of Net Fund Inflow

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>Sentiment switch for Singtel after surge in buying among Asia Ex-Japan funds</li>
<li>New positions from Fullerton Asia Focus, Jupiter Asian Fund and Fullerton Asia Growth &amp; Income head a total of 14 funds opening exposure between 01/31/2022 and 10/31/2022.</li>
<li>Follows broader rotation in to key Singapore names despite heavy selling in Sea Ltd.</li>
</ul>


Sentiment switch for Singtel after surge in buying among Asia Ex-Japan funds
New positions from Fullerton Asia Focus, Jupiter Asian Fund and Fullerton Asia Growth &amp; Income head a total of 14 funds opening exposure between 01/31/2022 and 10/31/2022.
Follows broader rotation in to key Singapore names despite heavy selling in Sea Ltd.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

GoTo Gojek Tokopedia Tbk PT / Event-Driven

<ul>
<li>In Mar 2022, GoTo raised around US$1bn from what was essentially a domestic Indonesian IPO. Its pre-IPO shareholders will be released from their lockup soon.</li>
<li>GoTo was formed in May 2021 as a result of a merger between two of Indonesia’s largest unicorns Gojek, leading player in ride hailing, and Tokopedia, leading e-commerce player.</li>
<li>In this note, we will talk about the upcoming lockup expiry.</li>
</ul>


In Mar 2022, GoTo raised around US$1bn from what was essentially a domestic Indonesian IPO. Its pre-IPO shareholders will be released from their lockup soon.
GoTo was formed in May 2021 as a result of a merger between two of Indonesia’s largest unicorns Gojek, leading player in ride hailing, and Tokopedia, leading e-commerce player.
In this note, we will talk about the upcoming lockup expiry.


GoTo IPO Lockup Expiry - US$13bn Lockup Release or in Other Words, the Real IPO

<ul><li>From the 21 Oct to 21 Nov close, the STI rallied 9.4%, with Singapore’s 100 most traded stocks averaging 8.0% total returns.</li><li>The 100 stocks represent all key sectors, with Telecommunications, Banks, and Technology Sectors seeing the most net fund inflows, proportionate to their current market capitalisation over the month, while the Energy, Materials & Resources, and Utilities Sectors saw the most proportionate net fund outflows.</li><li>This saw the Telecommunications, Banks, and Technology Sectors book the highest net fund inflows, proportionate to their respective current market capitalisation over the month.</li></ul>

From the 21 Oct to 21 Nov close, the STI rallied 9.4%, with Singapore’s 100 most traded stocks averaging 8.0% total returns.The 100 stocks represent all key sectors, with Telecommunications, Banks, and Technology Sectors seeing the most net fund inflows, proportionate to their current market capitalisation over the month, while the Energy, Materials & Resources, and Utilities Sectors saw the most proportionate net fund outflows.This saw the Telecommunications, Banks, and Technology Sectors book the highest net fund inflows, proportionate to their respective current market capitalisation over the month.

Sectors & Stocks That Led the Past Month's Net Fund Inflows

<ul><li>Dyna-Mac CEO adds to stake at S$0.188 per share Overall, institutions were net buyers of Singapore stocks for the five sessions ending Nov 17, with S$139 million of net inflows.</li><li>On Nov 16, Dyna-Mac Holdings executive director and chief executive officer Lim Ah Cheng acquired 500,000 shares of the company at S$0.188 per share.</li></ul>

Dyna-Mac CEO adds to stake at S$0.188 per share Overall, institutions were net buyers of Singapore stocks for the five sessions ending Nov 17, with S$139 million of net inflows.On Nov 16, Dyna-Mac Holdings executive director and chief executive officer Lim Ah Cheng acquired 500,000 shares of the company at S$0.188 per share.

Dyna-Mac CEO adds to stake at S$0.188 per share

Singapore

United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.

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UOB (UOB SP)

Most Actives Average 7% Total Return in Nov, on S$700M of Net Fund Inflow

The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return. Singapore’s 100...

Singapore Exchange Ltd (SGX)

Singtel: Demand Surge

Sentiment turns for Singtel after a raft of opening positions among Asia Ex-Japan active managers. Follows rotation into broader Singapore market...

Steven Holden

GoTo IPO Lockup Expiry - US$13bn Lockup Release or in Other Words, the Real IPO

In Mar 2022, GoTo raised around US$1bn from what was essentially a domestic Indonesian IPO. Its pre-IPO shareholders will be released from their...

Sumeet Singh

Sectors & Stocks That Led the Past Month's Net Fund Inflows

From the 21 Oct to 21 Nov close, the STI rallied 9.4%, with Singapore’s 100 most traded stocks averaging 8.0% total returns. The 100 stocks...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Most Actives Average 7% Total Return in Nov, on S$700M of Net Fund Inflow

The STI booked a 7% total return in Nov, with Singapore’s 100 most traded stocks in the 2022 YTD paralleling the monthly return. Singapore’s 100...

Singapore Exchange Ltd (SGX)

Singtel: Demand Surge

Sentiment turns for Singtel after a raft of opening positions among Asia Ex-Japan active managers. Follows rotation into broader Singapore market...

Steven Holden

GoTo IPO Lockup Expiry - US$13bn Lockup Release or in Other Words, the Real IPO

In Mar 2022, GoTo raised around US$1bn from what was essentially a domestic Indonesian IPO. Its pre-IPO shareholders will be released from their...

Sumeet Singh

Sectors & Stocks That Led the Past Month's Net Fund Inflows

From the 21 Oct to 21 Nov close, the STI rallied 9.4%, with Singapore’s 100 most traded stocks averaging 8.0% total returns. The 100 stocks...

Singapore Exchange Ltd (SGX)

Dyna-Mac CEO adds to stake at S$0.188 per share

Dyna-Mac CEO adds to stake at S$0.188 per share Overall, institutions were net buyers of Singapore stocks for the five sessions ending Nov 17,...

Singapore Exchange Ltd (SGX)