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 India Trust / Equity Bottom-Up

<ul><li>Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451.  </li><li>Digital Core REIT's FY2024 distributable income rose 10.9% to US$46.0 million, driven by robust cloud and AI demand.  </li><li>Mapletree Industrial Trust's third-quarter FY2024 DPU increased 1.5%, with growth from Osaka Data Centre and Tokyo facility acquisition.</li></ul>

Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451.  Digital Core REIT's FY2024 distributable income rose 10.9% to US$46.0 million, driven by robust cloud and AI demand.  Mapletree Industrial Trust's third-quarter FY2024 DPU increased 1.5%, with growth from Osaka Data Centre and Tokyo facility acquisition.

REIT Watch – Data Centre S-REITs report growth in latest results

<ul><li>Institutions were net sellers of Singapore stocks, with a net outflow of S$169 million from Jan 31 to Feb 6.</li><li>CapitaLand Ascott Trust's FY24 core distribution per stapled security increased 1% to 5.49 cents, driven by portfolio reconstitution.</li><li>CapitaLand India Trust's FY24 distribution per unit rose 6% to 6.84 Singapore cents, supported by acquisitions and rent reversion.</li></ul>

Institutions were net sellers of Singapore stocks, with a net outflow of S$169 million from Jan 31 to Feb 6.CapitaLand Ascott Trust's FY24 core distribution per stapled security increased 1% to 5.49 cents, driven by portfolio reconstitution.CapitaLand India Trust's FY24 distribution per unit rose 6% to 6.84 Singapore cents, supported by acquisitions and rent reversion.

S-Reits, industrials lead institutional outflow

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Global capital flowing into Australian logistics market as it reaches turning point, attracting investments.</li><li>Japan REIT makes deals in Tokyo, buying Tokyo Tower for $120M and selling office block for $62M.</li><li>CapitaLand India Trust acquires Bengaluru offices for $170M after project funding, expanding its portfolio.</li></ul>

Global capital flowing into Australian logistics market as it reaches turning point, attracting investments.Japan REIT makes deals in Tokyo, buying Tokyo Tower for $120M and selling office block for $62M.CapitaLand India Trust acquires Bengaluru offices for $170M after project funding, expanding its portfolio.

Asia Real Estate Tracker (25-Feb-2025): Global capital flows boost Australian logistics market.

<ul><li>Retail investors net bought S$487 million in Singapore shares since end-2024, focusing on Financial Services, REITs, Technology.</li><li>Non-STI stocks with highest net retail buying: Keppel REIT, AEM Holdings, CapitaLand India Trust, CapitaLand Ascott Trust, iFAST Corporation.</li><li>SGX-listed REIT ETFs attracted S$38 million net inflows in 2025, increasing AUM to over S$1 billion.</li></ul>

Retail investors net bought S$487 million in Singapore shares since end-2024, focusing on Financial Services, REITs, Technology.Non-STI stocks with highest net retail buying: Keppel REIT, AEM Holdings, CapitaLand India Trust, CapitaLand Ascott Trust, iFAST Corporation.SGX-listed REIT ETFs attracted S$38 million net inflows in 2025, increasing AUM to over S$1 billion.

Singapore Stocks with the Most Net Retail Buy & Sells in Early 2025

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>Henderson sells Kowloon project to Miramar Hotel for $400M in a strategic move to shift focus and secure a profitable deal.</li><li>CapitaLand shifts Tan to commercial REIT and hires Yong to lead Malaysia Trust, showing active leadership changes within the company.</li><li>CapitaLand India Trust initiates $54M Hyderabad IT Park revamp, signaling a significant investment in the Indian real estate market.</li></ul>

Henderson sells Kowloon project to Miramar Hotel for $400M in a strategic move to shift focus and secure a profitable deal.CapitaLand shifts Tan to commercial REIT and hires Yong to lead Malaysia Trust, showing active leadership changes within the company.CapitaLand India Trust initiates $54M Hyderabad IT Park revamp, signaling a significant investment in the Indian real estate market.

Asia Real Estate Tracker (21-Jan-2025): Henderson sells Kowloon project to Miramar for $400M.

Singapore

Capitaland India Trust operates as a property trust. The Trust acquires, owns, and develops income-producing real estates such as IT business parks, logistics space, and industrial facilities. Capitaland India Trust serves customers in India.

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Capitaland India Trust (CLINT SP)

REIT Watch – Data Centre S-REITs report growth in latest results

Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451. Digital Core REIT's FY2024...

Singapore Exchange Ltd (SGX)

S-Reits, industrials lead institutional outflow

Institutions were net sellers of Singapore stocks, with a net outflow of S$169 million from Jan 31 to Feb 6. CapitaLand Ascott Trust's FY24 core...

Singapore Exchange Ltd (SGX)

Asia Real Estate Tracker (25-Feb-2025): Global capital flows boost Australian logistics market.

Major investments and partnerships in the logistics, real estate, and rental housing sectors across Australia, Tokyo, Bengaluru, Hong Kong, and...

Asia Real Estate Tracker

Singapore Stocks with the Most Net Retail Buy & Sells in Early 2025

Retail investors net bought S$487 million in Singapore shares since end-2024, focusing on Financial Services, REITs, Technology. Non-STI stocks...

Singapore Exchange Ltd (SGX)

Asia Real Estate Tracker (21-Jan-2025): Henderson sells Kowloon project to Miramar for $400M.

CapitaLand makes strategic moves in Asia real estate market, including sale of Kowloon project, leadership changes, and investment in Hyderabad IT...

Asia Real Estate Tracker

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