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>Institutions were net buyers of Singapore stocks over the five trading sessions through to Jul 4, with S$188 million of net institutional inflow, as 20 primary-listed companies conducted buybacks with a total consideration of S$23.6 million.</li><li>For the contingent of non-STI primary-listed companies that conducted buybacks, First Resources : EB5 +0.72% led the consideration tally with 1.15 million shares purchased at an average price of S$1.38 per share.</li><li>With a consideration of S$2.2 million, this increased the deemed interests of UOL Group chairman Wee Ee Lim and director Wee Ee-chao.</li></ul>

Institutions were net buyers of Singapore stocks over the five trading sessions through to Jul 4, with S$188 million of net institutional inflow, as 20 primary-listed companies conducted buybacks with a total consideration of S$23.6 million.For the contingent of non-STI primary-listed companies that conducted buybacks, First Resources : EB5 +0.72% led the consideration tally with 1.15 million shares purchased at an average price of S$1.38 per share.With a consideration of S$2.2 million, this increased the deemed interests of UOL Group chairman Wee Ee Lim and director Wee Ee-chao.

<ul><li>DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May.</li><li>Combined net interest income (NII) for the trio was S$8.3 billion in 1QFY24, the sixth consecutive quarter combined NII surpassed S$8.0 billion, and up 46% from the combined S$5.7 billion in 4QFY19.</li><li>This compares to the trio averaging 5.8% total returns for the full 2023 year, with S$2.5 billion of combined net institutional outflow.</li></ul>

DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May.Combined net interest income (NII) for the trio was S$8.3 billion in 1QFY24, the sixth consecutive quarter combined NII surpassed S$8.0 billion, and up 46% from the combined S$5.7 billion in 4QFY19.This compares to the trio averaging 5.8% total returns for the full 2023 year, with S$2.5 billion of combined net institutional outflow.

STI Banks Book S$500M YTD Net Institutional Inflows

<ul><li>Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600 shares at an average price of S$2.64 per share.</li><li>On Jul 4, Centurion Corp CEO Kong Chee Min acquired 115,000 shares, at an average price of S$0.59 cents per share.</li></ul>

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600 shares at an average price of S$2.64 per share.On Jul 4, Centurion Corp CEO Kong Chee Min acquired 115,000 shares, at an average price of S$0.59 cents per share.

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share

Alpha-Centric ESG Research

Kyle Rudden

Thematic (Sector/Industry)

<ul><li>Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 "financed" emissions.</li><li>Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks' total financed emissions.</li><li>Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.</li></ul>

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 "financed" emissions.Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks' total financed emissions.Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

<ul><li>Institutions were net buyers of Singapore stocks over the five trading sessions through to May 30, with S$108.4 million of net institutional inflow, as 20 primary-listed companies conducted buybacks by way of market acquisition with a total consideration of S$37.9 million.</li><li>Meanwhile Mapletree Pan Asia Commercial Trust, Singapore Airlines, Mapletree Logistics Trust, Jardine Cycle & Carriage, CapitaLand Ascendas Reit, Sembcorp Industries, UOL Group, Jardine Matheson Holdings, Mapletree Industrial Trust, and Keppel Reit led the net institutional outflow over the five sessions.</li><li>In addition to the 9.3 per cent interest that the Tang group owns in ARA H-Trust, the proposed acquisition increases the Tangs’ holding in ARA H-Trust to 28.3 per cent.</li></ul>

Institutions were net buyers of Singapore stocks over the five trading sessions through to May 30, with S$108.4 million of net institutional inflow, as 20 primary-listed companies conducted buybacks by way of market acquisition with a total consideration of S$37.9 million.Meanwhile Mapletree Pan Asia Commercial Trust, Singapore Airlines, Mapletree Logistics Trust, Jardine Cycle & Carriage, CapitaLand Ascendas Reit, Sembcorp Industries, UOL Group, Jardine Matheson Holdings, Mapletree Industrial Trust, and Keppel Reit led the net institutional outflow over the five sessions.In addition to the 9.3 per cent interest that the Tang group owns in ARA H-Trust, the proposed acquisition increases the Tangs’ holding in ARA H-Trust to 28.3 per cent.

The Tang group ventures into the S-Reit sector

Singapore

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.

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.

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

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.

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.

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

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.

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.

Hang Seng Bank Limited and its subsidiaries provide banking and related financial services.

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.

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.

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

Malayan Banking Berhad operates as a bank. The Company provides financial services such as insurance, asset management, stock broking, nominee services, venture capital, leasing, and Internet banking. Malayan Banking Berhad serves customers in South East Asia.

Ping An Bank Co Ltd provides a full range of commercial banking services including RMB and foreign currency deposit, loan, international and domestic settlement, discount, currency trading, letter of credit, bank guarantee, and other related services.

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)

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.

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UOB (UOB SP)

UOL Chairman Wee Ee Lim Builds Interest

Institutions were net buyers of Singapore stocks over the five trading sessions through to Jul 4, with S$188 million of net institutional inflow,...

Singapore Exchange Ltd (SGX)

STI Banks Book S$500M YTD Net Institutional Inflows

DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May. Combined net interest income...

Singapore Exchange Ltd (SGX)

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities,...

Kyle Rudden

The Tang group ventures into the S-Reit sector

Institutions were net buyers of Singapore stocks over the five trading sessions through to May 30, with S$108.4 million of net institutional...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

UOL Chairman Wee Ee Lim Builds Interest

Institutions were net buyers of Singapore stocks over the five trading sessions through to Jul 4, with S$188 million of net institutional inflow,...

Singapore Exchange Ltd (SGX)

STI Banks Book S$500M YTD Net Institutional Inflows

DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May. Combined net interest income...

Singapore Exchange Ltd (SGX)

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600...

Singapore Exchange Ltd (SGX)

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities,...

Kyle Rudden

The Tang group ventures into the S-Reit sector

Institutions were net buyers of Singapore stocks over the five trading sessions through to May 30, with S$108.4 million of net institutional...

Singapore Exchange Ltd (SGX)