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>5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest institutional net inflows for most of last week.</li><li>The five S-Reits were CapitaLand Ascendas Reit, Keppel DC Reit, Mapletree Logistics Trust, Mapletree Industrial Trust, and Keppel Reit.</li></ul>

5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest institutional net inflows for most of last week.The five S-Reits were CapitaLand Ascendas Reit, Keppel DC Reit, Mapletree Logistics Trust, Mapletree Industrial Trust, and Keppel Reit.

REIT Watch - 5 S-Reits among top 10 institutional net buy stocks for the week

<ul><li>The STI continues to be home to 30 different stocks that on the whole report generally as much revenue outside Singapore as within Singapore.</li><li>After Yangzijiang Shipbuilding (Holdings) led the STI in 2022 with a 107.4% total return, it has been the least performing STI constituent in 1Q23 to Feb 9, with an 8.8% decline.</li><li>FLCT and KDCR maintain respective weights of 5.5% and 4.4% within the iEdge S-REIT Index, and both outpaced these benchmarks from the end of 2019 to Feb 9, 2022, with respective total returns of 26% and 11%.</li></ul>

The STI continues to be home to 30 different stocks that on the whole report generally as much revenue outside Singapore as within Singapore.After Yangzijiang Shipbuilding (Holdings) led the STI in 2022 with a 107.4% total return, it has been the least performing STI constituent in 1Q23 to Feb 9, with an 8.8% decline.FLCT and KDCR maintain respective weights of 5.5% and 4.4% within the iEdge S-REIT Index, and both outpaced these benchmarks from the end of 2019 to Feb 9, 2022, with respective total returns of 26% and 11%.

Frasers Logistics & Commercial Trust / Equity Bottom-Up

<ul><li>In January, S-Reits posted 7.1 per cent in total returns (based on the iEdge S-Reit Index) and booked net institutional fund inflows of S$3.2 million, outpacing STI’s 3.5 per cent total returns.</li><li>Within the STI, all seven S-Reits in the index outperformed the STI’s 3.5 per cent total returns for January.</li><li>The top five performing S-Reits were Keppel DC Reit (+15.3 per cent), Mapletree Pan Asia Commercial Trust (+9.0 per cent), Frasers Logistics & Commercial Trust (+8.6 per cent), Mapletree Logistics Trust (+7.7 per cent), and Mapletree Industrial Trust (+7.2 per cent).</li></ul>

In January, S-Reits posted 7.1 per cent in total returns (based on the iEdge S-Reit Index) and booked net institutional fund inflows of S$3.2 million, outpacing STI’s 3.5 per cent total returns.Within the STI, all seven S-Reits in the index outperformed the STI’s 3.5 per cent total returns for January.The top five performing S-Reits were Keppel DC Reit (+15.3 per cent), Mapletree Pan Asia Commercial Trust (+9.0 per cent), Frasers Logistics & Commercial Trust (+8.6 per cent), Mapletree Logistics Trust (+7.7 per cent), and Mapletree Industrial Trust (+7.2 per cent).

REIT Watch - S-Reits report 7 per cent gains in January

<ul><li>The STI gained 5.4% over the past fortnight, recovering half of the declines posted between 13 Sep and 21 Oct.</li><li>This has brought the STI’s 2022-to-date total return to 4%, which compares to an 18% decline for the FTSE Developed Index and 21% decline for the FTSE Asia Pacific Index.</li><li>UOB was among the most defensive STI stocks between 13 Sep and 21 Oct, in addition to YZJ Shipbuilding, Genting SG, DBS, Emperador.</li></ul>

The STI gained 5.4% over the past fortnight, recovering half of the declines posted between 13 Sep and 21 Oct.This has brought the STI’s 2022-to-date total return to 4%, which compares to an 18% decline for the FTSE Developed Index and 21% decline for the FTSE Asia Pacific Index.UOB was among the most defensive STI stocks between 13 Sep and 21 Oct, in addition to YZJ Shipbuilding, Genting SG, DBS, Emperador.

Wilmar, Sembcorp Ind & Keppel DC REIT Led STI’s 2-Week 5% Partial Rebound 

CDL Hospitality Trusts / Equity Bottom-Up

<ul><li>REIT Watch - S-Reits rebound amid less hawkish rates expectations The FTSE EPRA Nareit Developed Index gained close to 4 per cent last week while Singapore’s iEdge S-Reit Index booked its strongest week this year with 6 per cent returns.</li><li>Outperforming S-Reits for the week include Manulife US Reit, Keppel DC Reit, Aims Apac Reit, Keppel Pacific Oak US Reit, and CDL Hospitality Trusts.</li></ul>

REIT Watch - S-Reits rebound amid less hawkish rates expectations The FTSE EPRA Nareit Developed Index gained close to 4 per cent last week while Singapore’s iEdge S-Reit Index booked its strongest week this year with 6 per cent returns.Outperforming S-Reits for the week include Manulife US Reit, Keppel DC Reit, Aims Apac Reit, Keppel Pacific Oak US Reit, and CDL Hospitality Trusts.

REIT Watch - S-REITs rebound amidst less hawkish rates expectations

Singapore

Keppel DC REIT is Asia's first pure-play data centre REIT listed on the Singapore Exchange. Keppel DC REIT's investment strategy is to principally invest, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes, as well as real estate related assets.

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Keppel DC REIT (KDCREIT SP)

REIT Watch - 5 S-Reits among top 10 institutional net buy stocks for the week

5 S-Reits among top 10 institutional net buy stocks for the week Five Singapore Reits took up spots among the 10 stocks which recorded the largest...

Singapore Exchange Ltd (SGX)

Two S-REITs Lead the STI in Early 2023

The STI continues to be home to 30 different stocks that on the whole report generally as much revenue outside Singapore as within...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits report 7 per cent gains in January

In January, S-Reits posted 7.1 per cent in total returns (based on the iEdge S-Reit Index) and booked net institutional fund inflows of S$3.2...

Singapore Exchange Ltd (SGX)

Wilmar, Sembcorp Ind & Keppel DC REIT Led STI’s 2-Week 5% Partial Rebound

The STI gained 5.4% over the past fortnight, recovering half of the declines posted between 13 Sep and 21 Oct. This has brought the STI’s...

Singapore Exchange Ltd (SGX)

REIT Watch - S-REITs rebound amidst less hawkish rates expectations

REIT Watch - S-Reits rebound amid less hawkish rates expectations The FTSE EPRA Nareit Developed Index gained close to 4 per cent last week while...

Singapore Exchange Ltd (SGX)

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