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.

Thematic (Sector/Industry)

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<p>§  <strong>The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses in the Consumer Discretionary Sector tend to be more impacted by these cycles.</strong></p>
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<p>§  <strong>Globally, the MSCI World Consumer Staples Index has generated a 2.7% dividend inclusive YTD return while regionally, the MSCI AC Asia Pacific Consumer Staples Index generated a 5.7% dividend inclusive YTD return. This compared to a 1.3% decline and 0.8% gain for the</strong>…</p>
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§  The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses in the Consumer Discretionary Sector tend to be more impacted by these cycles.
 
§  Globally, the MSCI World Consumer Staples Index has generated a 2.7% dividend inclusive YTD return while regionally, the MSCI AC Asia Pacific Consumer Staples Index generated a 5.7% dividend inclusive YTD return. This compared to a 1.3% decline and 0.8% gain for the…




Consumer Staples Offered Investor Returns Amid Lower Growth Outlooks

Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/015/017/original/IRF_NewsShocks.png?1476919557" class="editor-image img-responsive" data-smartkarma-image-id="15017"></figure><div class="content-caption">"News Shocks" to the Japanese Economy (Source: Europacifica)</div><h2>Room for small hope amid bleak Japanese policy reform record</h2><p>Until now, our analysis of Japanese structural reform, centred upon raising Japanese productivity, has revealed few tendencies that might give us hope of an imminent and conclusive end to Japan's deflationary "lost decades" dynamic.  In <a href="https://www.smartkarma.com/insights/structural-reform-i-the-japanese-financial-sector" target="_blank" data-smartkarma-citation="insights:6375">Structural Reform I: The Japanese Financial Sector</a> we examined some of the structural characteristics within the financial sector that were…</p>

"News Shocks" to the Japanese Economy (Source: Europacifica)Room for small hope amid bleak Japanese policy reform recordUntil now, our analysis of Japanese structural reform, centred upon raising Japanese productivity, has revealed few tendencies that might give us hope of an imminent and conclusive end to Japan's deflationary "lost decades" dynamic.  In Structural Reform I: The Japanese Financial Sector we examined some of the structural characteristics within the financial sector that were…

Structural Reform III: Evidence of Bad Luck over Poor Policy

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

<p><a href="https://www.smartkarma.com/entities/13644" target="_blank" data-smartkarma-citation="entities:13644:1">Coach Inc (COH US)</a> fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16 earnings results on the morning of August 9th. We remain bearish on the stock; in our view, the Street's sales and earnings estimates for FY17 and FY18 remain far too optimistic given weaker spending by Asian tourists in the US and overly aggressive Street assumptions for Japanese and Chinese consumer spending. We also believe that COH will struggle to…</p>

Coach Inc (COH US) fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16 earnings results on the morning of August 9th. We remain bearish on the stock; in our view, the Street's sales and earnings estimates for FY17 and FY18 remain far too optimistic given weaker spending by Asian tourists in the US and overly aggressive Street assumptions for Japanese and Chinese consumer spending. We also believe that COH will struggle to…

July Tourism & Macro Data Suggest Coach Q1 FY17 Will Disappoint

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

<p>In-bound tourism to China appears to be in decline, albeit slowly. At the same time, foreign travel by Chinese residents has grown rapidly, driven partly by the search for cheap luxury goods and partly by the increasingly numbers of young travelers. </p>

In-bound tourism to China appears to be in decline, albeit slowly. At the same time, foreign travel by Chinese residents has grown rapidly, driven partly by the search for cheap luxury goods and partly by the increasingly numbers of young travelers. 

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

<p>This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.</p><p>The series to date is:</p><table class="table table-striped"><tbody>
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<td><strong>Date</strong></td>
<td><strong>Number</strong></td>
<td><strong>Title</strong></td>
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<td>4-Aug-16</td>
<td>Japan Flow I</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-i-the-boj-s-new-etf-buying" target="_blank">The BOJ's New ETF Buying</a></td>
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<td>12-Aug-16</td>
<td>Japan Flow II</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-ii-just-what-etfs-does-the-boj-buy-could-we-see-an-april2000-style-nikkei-225-rebal" target="_blank">Just What ETFs Does the BOJ Buy? Could We See an April2000-Style Nikkei 225 Rebal?</a></td>
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<td>20-Aug-16</td>
<td>Japan Flow III</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-iii-the-mechanics-of-boj-buying" target="_blank">The Mechanics of BOJ Buying</a></td>
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</tbody></table><p>This new one discusses investor class flow dynamics, cycles, and trends and pressures going forward.</p><p>The TSE (now JPX) historically releases the…</p>

This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.The series to date is:

Date
Number
Title


4-Aug-16
Japan Flow I
The BOJ's New ETF Buying


12-Aug-16
Japan Flow II
Just What ETFs Does the BOJ Buy? Could We See an April2000-Style Nikkei 225 Rebal?


20-Aug-16
Japan Flow III
The Mechanics of BOJ Buying

This new one discusses investor class flow dynamics, cycles, and trends and pressures going forward.The TSE (now JPX) historically releases the…

JAPAN FLOW IV:  Foreign Flows Matter, & They Have Clear Cycles

Japan

Aisin Corporation manufactures and distributes motor vehicle parts. The Company produces drive train, transmissions, clutches, disc brakes, anti-skid brake system, suspensions, oil pumps, power windows, power door locks, and more. Aisin operates sales and production subsidiaries worldwide.

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Aisin (7259 JP)

Consumer Staples Offered Investor Returns Amid Lower Growth Outlooks

§ The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses...

Singapore Exchange Ltd (SGX)

Structural Reform III: Evidence of Bad Luck over Poor Policy

Room for small hope amid bleak Japanese policy reform recordUntil now, our analysis of Japanese structural reform, centred upon raising Japanese...

Naomi Fink

July Tourism & Macro Data Suggest Coach Q1 FY17 Will Disappoint

Coach Inc (COH US) fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16...

Daniel Hellberg

Tourism Trends and China

In-bound tourism to China appears to be in decline, albeit slowly. At the same time, foreign travel by Chinese residents has grown rapidly, driven...

Bixmoor

JAPAN FLOW IV: Foreign Flows Matter, & They Have Clear Cycles

This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.The series to date is:This...

Travis Lundy

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52-week Range

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