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.

Macroeconomics

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<li>Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively softer gains in 2017 YTD, following strong average gains of 26% in 2016.</li>
<li>
Of the 20 stocks, the strongest performers in 2017 YTD were the two debutants- UnUsUal  which specialises in production and promotion of large-scale live events and concerts, and coffee-shop operator Kimly. Meanwhile, the two least performing stocks of the group in 2017 YTD - Sri…</li>
</ul>


Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively softer gains in 2017 YTD, following strong average gains of 26% in 2016.

Of the 20 stocks, the strongest performers in 2017 YTD were the two debutants- UnUsUal  which specialises in production and promotion of large-scale live events and concerts, and coffee-shop operator Kimly. Meanwhile, the two least performing stocks of the group in 2017 YTD - Sri…


Singapore's 20 Biggest ASEAN Consumer Plays

Economist, Centennial Asia Advisors

Jason Tan

Economist

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

<ul><li>
More de-listings bog down the bourse: The local bourse is suffering a succession of privatisation exercises, with 10 companies delisted from the Singapore Exchange so far in 2017. The lacklustre volumes have impacted valuations of listed companies on the SGX and have precipitated an exodus of companies away from Singapore to Hong Kong. According to PWC, the number of Singapore companies exploring a Hong Kong IPO has doubled to over a dozen in the past year. OSIM’s delisting from the SGX in 2016…</li></ul>


More de-listings bog down the bourse: The local bourse is suffering a succession of privatisation exercises, with 10 companies delisted from the Singapore Exchange so far in 2017. The lacklustre volumes have impacted valuations of listed companies on the SGX and have precipitated an exodus of companies away from Singapore to Hong Kong. According to PWC, the number of Singapore companies exploring a Hong Kong IPO has doubled to over a dozen in the past year. OSIM’s delisting from the SGX in 2016…

Singapore: Equity Market Blues a Sign of Wider Malaise?

Partner, River Valley Asset Management

River Valley Asset Management

Partner

Singapore-based boutique asset management firm

River Valley Asset Management is a Singapore-based boutique asset management firm. Our team at RVAM strongly believes in being a trusted steward of our clients' wealth across generations.

Each of our fund managers has years of rich portfolio management experience over multiple market cycles at world-class investment houses. We bring our clients the combined strength of our investment team to manage their financial portfolios and to provide bespoke guidance on all aspects of their financial health.

We offer multi-asset class expert investment advice to accredited investors who are family offices, high net worth individuals and institutional investors to preserve and grow our clients' wealth.

The fund management team of the company includes Homiyar Vasania, Anand Ramachandran and Jamshed Desai.

Equity Bottom-Up

iShares MSCI Singapore ETF / Equity Bottom-Up

In the past we have talked about how the Business Trust universe in Singapore provides interesting opportunities, in an otherwise staid marketplace.  We wrote about them in our piece <a href="https://www.smartkarma.com/insights/singapore-the-hidden-gems" target="_blank" data-smartkarma-citation="insights:7657">Singapore - The Hidden Gems</a>. Six months into an eventful Trump presidency, we went back to check how our ideas have stacked up. And, we were surprised how well our Singapore REIT's have performed, in line with the broader market.

In the past we have talked about how the Business Trust universe in Singapore provides interesting opportunities, in an otherwise staid marketplace.  We wrote about them in our piece Singapore - The Hidden Gems. Six months into an eventful Trump presidency, we went back to check how our ideas have stacked up. And, we were surprised how well our Singapore REIT's have performed, in line with the broader market.

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Turkey: Measures of business confidence are up in the wake of Erdogan’s referendum victory. Tourism arrivals to Turkey have declined in 20 consecutive months and we would expect they will continue to fall. Venezuela: Continued political and economic chaos threaten this 32 mn population country. Venezuela is the 6th largest in OPEC by production. GM recently ended operations in the country and other auto companies who have been holding on to idle plants will likely leave as well. Singapore:…

Turkey: Measures of business confidence are up in the wake of Erdogan’s referendum victory. Tourism arrivals to Turkey have declined in 20 consecutive months and we would expect they will continue to fall. Venezuela: Continued political and economic chaos threaten this 32 mn population country. Venezuela is the 6th largest in OPEC by production. GM recently ended operations in the country and other auto companies who have been holding on to idle plants will likely leave as well. Singapore:…

As Political Risk Fades Investors Become Much More Positive on Emerging Markets

Thematic (Sector/Industry)

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<li>
Slow employment growth: It is not a pretty picture in the labour market. The resident unemployment rate averaged 3% in 2016, up from 2.8% in 2015 and the highest since 2010. Redundancies rose sharply while total employment barely grew – up 8,600 in 2016, down from 23,300 in 2015 and well below the yearly average of 120,000 in 2010-14.</li>
<li>
Unambiguous signs of an economic turnaround: Non-oil domestic exports (mainly manufactured goods) soared 21.5% y/y in Feb 17, up from 8.6% in Jan 17 while non-oil…</li>
</ul>



Slow employment growth: It is not a pretty picture in the labour market. The resident unemployment rate averaged 3% in 2016, up from 2.8% in 2015 and the highest since 2010. Redundancies rose sharply while total employment barely grew – up 8,600 in 2016, down from 23,300 in 2015 and well below the yearly average of 120,000 in 2010-14.

Unambiguous signs of an economic turnaround: Non-oil domestic exports (mainly manufactured goods) soared 21.5% y/y in Feb 17, up from 8.6% in Jan 17 while non-oil…


Singapore: How Worried Should We Be About a Weak Labour Market?

United States

iShares MSCI Singapore ETF is an exchange-traded fund incorporated in the USA. The ETF's objective seeks to provide investment results that correspond to the performance of the Singaporean market, as measured by the MSCI Singapore 25/50 Index. The ETF invests in a representative sample of index stocks using a "portfolio sampling" technique. SGX Trading Name: IS MSCI SIN 100US$

iShares MSCI Singapore ETF (EWS US)

Singapore's 20 Biggest ASEAN Consumer Plays

Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively...

Singapore Exchange Ltd (SGX)

Singapore: Equity Market Blues a Sign of Wider Malaise?

More de-listings bog down the bourse: The local bourse is suffering a succession of privatisation exercises, with 10 companies delisted from the...

Jason Tan

Singapore REIT's Pay-Off

In the past we have talked about how the Business Trust universe in Singapore provides interesting opportunities, in an otherwise staid...

River Valley Asset Management

As Political Risk Fades Investors Become Much More Positive on Emerging Markets

Turkey: Measures of business confidence are up in the wake of Erdogan’s referendum victory. Tourism arrivals to Turkey have declined in 20...

David Riedel

Singapore: How Worried Should We Be About a Weak Labour Market?

Slow employment growth: It is not a pretty picture in the labour market. The resident unemployment rate averaged 3% in 2016, up from 2.8% in 2015...

Jason Tan