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>FOR the 5 trading sessions that spanned Sep 9 to Sep 15, the Straits Times Index (STI) gained 1 per cent, with the FTSE China A50 Index gaining 0.9 per cent, the Hang Seng Index gaining 0.4 per cent and the FTSE Bursa Malaysia KLCI declining 6 per cent.</li><li>Overall, institutions were net buyers of Singapore stocks for the 5 sessions ending Sep 15, with S$220 million of net inflows.</li><li>OCBC has bought back 0.32 per cent of its issued shares (excluding treasury shares) on the current mandate, as of Sep 15.</li></ul>

FOR the 5 trading sessions that spanned Sep 9 to Sep 15, the Straits Times Index (STI) gained 1 per cent, with the FTSE China A50 Index gaining 0.9 per cent, the Hang Seng Index gaining 0.4 per cent and the FTSE Bursa Malaysia KLCI declining 6 per cent.Overall, institutions were net buyers of Singapore stocks for the 5 sessions ending Sep 15, with S$220 million of net inflows.OCBC has bought back 0.32 per cent of its issued shares (excluding treasury shares) on the current mandate, as of Sep 15.

Ong Sek Chong & Sons adds to Lian Beng stake

<ul><li>Effective the 19 Sep market open, Emperador will join the STI with an indicative weight of 0.4%, taking the number of stocks representing the Consumer Non-cyclical Sector to four, with a combined indicative Sector weightage of 6%, based on Index weights as of 30 June.</li><li>The five stocks of the STI reserve list will comprise Olam Group, Suntec REIT, Keppel REIT, Frasers Centrepoint Trust, and Ascott Residence Trust.</li><li>Following the recent semi-annual rebalance https://research.ftserussell.com/Analytics/FactSheets/Home/DownloadSingleIssue?openfile=open&issueName=STIRCO&isManual=True, Emperador Inc. will join the STI effective the Monday 19 Sep, replacing ComfortDelGro Corporation.</li></ul>

Effective the 19 Sep market open, Emperador will join the STI with an indicative weight of 0.4%, taking the number of stocks representing the Consumer Non-cyclical Sector to four, with a combined indicative Sector weightage of 6%, based on Index weights as of 30 June.The five stocks of the STI reserve list will comprise Olam Group, Suntec REIT, Keppel REIT, Frasers Centrepoint Trust, and Ascott Residence Trust.Following the recent semi-annual rebalance https://research.ftserussell.com/Analytics/FactSheets/Home/DownloadSingleIssue?openfile=open&issueName=STIRCO&isManual=True, Emperador Inc. will join the STI effective the Monday 19 Sep, replacing ComfortDelGro Corporation.

<ul><li>Following the broad downtrend that gripped global stocks in 1H22, most benchmarks have posted partial recoveries over the first seven weeks of 2H22.</li><li>However, the uneven global growth outlook has seen China stocks (as gauged by the FTSE China A50 Index) further decline by 10%, following the 6% decline in 1H22.</li><li>Growth, inflation, and the inflationary impact on growth has carried an uneven impact on global economic sectors and by extension sectors and industries in 1H22.</li></ul>

Following the broad downtrend that gripped global stocks in 1H22, most benchmarks have posted partial recoveries over the first seven weeks of 2H22.However, the uneven global growth outlook has seen China stocks (as gauged by the FTSE China A50 Index) further decline by 10%, following the 6% decline in 1H22.Growth, inflation, and the inflationary impact on growth has carried an uneven impact on global economic sectors and by extension sectors and industries in 1H22.

Recent Stockmarket Moves and Challenges Ahead

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Last week, OCBC and DBS attracted a combined S$142M of net insti inflow, with UOB seeing S$35M of net outflow.</li><li>Combined, Singapore-listed stocks attracted S$182M of net insti inflows last week, curbing net outflow in the 2022 YTD to S$48M.</li><li>A non-STI stock, Raffles Medical Group, saw the fifth highest net institutional inflows last week, while rallying 17% last week and reporting 1H22 group revenue of S$382 million, representing 11.2% YoY growth.</li></ul>

Last week, OCBC and DBS attracted a combined S$142M of net insti inflow, with UOB seeing S$35M of net outflow.Combined, Singapore-listed stocks attracted S$182M of net insti inflows last week, curbing net outflow in the 2022 YTD to S$48M.A non-STI stock, Raffles Medical Group, saw the fifth highest net institutional inflows last week, while rallying 17% last week and reporting 1H22 group revenue of S$382 million, representing 11.2% YoY growth.

Last Week’s Institutional Rotation into Banks & REITs

<ul><li>What you need to know about the SG market last week #whatstrending feat. #whatstrending is a new series addressing some of the most trending questions/topics on the markets for investors.</li><li>Singapore banks benefited from rising interest rates and reported an increase in net interest margin (NIM) and higher profits in 2Q22.</li></ul>

What you need to know about the SG market last week #whatstrending feat. #whatstrending is a new series addressing some of the most trending questions/topics on the markets for investors.Singapore banks benefited from rising interest rates and reported an increase in net interest margin (NIM) and higher profits in 2Q22.

What's Trending - SG Banks & Notable earnings

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.

DBS Group Holdings Limited and its subsidiaries provide a variety of financial services.  The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage .  DBS Group also acts as the primary dealer in Singapore government securities.

Singapore Exchange Limited owns and operates Singapore's Securities and derivatives exchange and their related clearing houses.  The Company also provides ancillary securities processing and information technology services to participants in the financial sector.

Great Eastern Holdings Limited operates in the life insurance business. The Company provides fund management services including retirement plans and endowments as well as life and health insurance, personal accident insurance, and general insurance

UOB-Kay Hian Holdings Limited is an investment holding company whose subsidiaries provide management services.  The Company provides stock broking, futures broking, investment trading, nominee services, margin financing, and research activities.

Hong Leong Finance Limited provides depository and financing services to its clients.  The Company's services include hire purchase, leasing, factoring, mortgages, and other secured loans in the commercial, industrial, and consumer sectors.

Yangzijiang Financial Holding Ltd operates as an investment holding company. The Company serves customers in Singapore.

Pacific Century Regional Developments Limited operates in the holding of investments and development of infrastructure and properties.

Pacific Century Regional Developments (PAC SP)

Valuemax Group Ltd. operates pawnshops. The Company provides the valuation of products for pawning, selling and buying through its outlet stores..

G. K. Goh Holdings Limited is a diversified investment holding company with significant exposure to the aged care industry, corporate and business services, property development and fibre networks.

Kotak Mahindra Bank Limited is a full service commercial bank. The Bank offers a wide range of products and services such as personal, commercial, and corporate banking services, including deposit accounts, loans, and investments. Kotak Mahindra Bank serves customers in India.

Fifth Third Bancorp is a diversified financial services company that operates banking centers in the Midwestern and Southeastern regions of the United States. The Company's principal businesses include retail banking, commercial banking, investment advisory, and data processing.

Mizuho Financial Group, Inc. provides comprehensive financial services through its subsidiaries. The Group provides variety of financial services such as general banking, securities brokerage, trust banking, and assets management.

PNC Financial Services Group, Inc. is a diversified financial services organization.  The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company's primary regional markets.

BOC Hong Kong (Holdings) Limited provides a comprehensive range of financial products and services to retail and corporate customers.  Its products include retail banking, corporate banking, and treasury services.  The Company operates its branches in Hong Kong and China.

PT Bank Mandiri (Persero) Tbk is formed by the merger of four state-owned banks, namely Pt Bank Bumi Daya, PT Bank Dagang Negara, PT Bank Ekspor Import Indonesia (Bank Exim), PT Bank Pembangunan Indonesia (Bank Bapindo). The Bank operates in the commercial banking services.

Westpac Banking Corporation offers general and savings banking services.  The Company provides investment portfolio management and advice, insurance services,  consumer finance, and money market services among other services.  Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

PT Bank Rakyat Indonesia (Persero) Tbk provides commercial banking activities and its related services. The Bank also provides banking activities based on shariah principles.

Bank of Nova Scotia provides retail, commercial, international, corporate, investment and private banking services and products.

Shanghai Pudong Development Bank Co., Ltd. provides banking services. The Company provides loans, deposits, accounts settlement, foreign exchange, and other services. Shanghai Pudong Development Bank provides its services to individuals, companies, and other groups.

Shanghai Pudong Development Bank Co. (600000 CH)

Oversea-Chinese Banking Corporation Limited offers a comprehensive range of financial services.  The Company's services include deposit-taking, corporate, enterprise and personal lending, international trade financing, investment banking, private banking, treasury, stockbroking, insurance, credit cards, cash management, asset management and other financial and related services.

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OCBC (OCBC SP)

Ong Sek Chong & Sons adds to Lian Beng stake

FOR the 5 trading sessions that spanned Sep 9 to Sep 15, the Straits Times Index (STI) gained 1 per cent, with the FTSE China A50 Index gaining...

Singapore Exchange Ltd (SGX)

Emperador to Join STI on 19 Sep

Effective the 19 Sep market open, Emperador will join the STI with an indicative weight of 0.4%, taking the number of stocks representing the...

Singapore Exchange Ltd (SGX)

Recent Stockmarket Moves and Challenges Ahead

Following the broad downtrend that gripped global stocks in 1H22, most benchmarks have posted partial recoveries over the first seven weeks of...

Singapore Exchange Ltd (SGX)

Last Week’s Institutional Rotation into Banks & REITs

Last week, OCBC and DBS attracted a combined S$142M of net insti inflow, with UOB seeing S$35M of net outflow. Combined, Singapore-listed stocks...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ong Sek Chong & Sons adds to Lian Beng stake

FOR the 5 trading sessions that spanned Sep 9 to Sep 15, the Straits Times Index (STI) gained 1 per cent, with the FTSE China A50 Index gaining...

Singapore Exchange Ltd (SGX)

Emperador to Join STI on 19 Sep

Effective the 19 Sep market open, Emperador will join the STI with an indicative weight of 0.4%, taking the number of stocks representing the...

Singapore Exchange Ltd (SGX)

Recent Stockmarket Moves and Challenges Ahead

Following the broad downtrend that gripped global stocks in 1H22, most benchmarks have posted partial recoveries over the first seven weeks of...

Singapore Exchange Ltd (SGX)

Last Week’s Institutional Rotation into Banks & REITs

Last week, OCBC and DBS attracted a combined S$142M of net insti inflow, with UOB seeing S$35M of net outflow. Combined, Singapore-listed stocks...

Singapore Exchange Ltd (SGX)

What's Trending - SG Banks & Notable earnings

What you need to know about the SG market last week #whatstrending feat. #whatstrending is a new series addressing some of the most trending...

Singapore Exchange Ltd (SGX)