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.

Asia’s leading multi-asset exchange

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

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<ul>
<li>
The STI is the most globally recognised benchmark index and market barometer for Singapore. The diversified index tracks the performance of the 30 largest and most liquid companies listed on Singapore Exchange. These 30 constituents have a combined market cap of more than S$560 billion. 
	 </li>
	<li>
In the 2019 YTD, the STI's five best-performing constituents were: Thai Beverage (+27.2%), ComfortDelGro (+21.0%), Yangzijiang Shipbuilding (+19.2%), ST Engineering (+17.7%) and UOL Group (+17.2%). They have averaged a total return of 20.4% over the period. 
	 </li>
	<li>With these YTD gains, ThaiBev, Yangzijiang and UOL have reversed their negative performances in 2018, while ComfortDelGro and ST Engineering have built on their positive performances from last year.</li>
</ul>
The Straits Times Index (STI) is the most globally recognised benchmark index and market barometer for Singapore. With a history dating back to 1966, the diversified index tracks the performance of the 30 largest and most liquid companies listed on Singapore Exchange. These 30 constituents have foundations spanning three centuries and multiple sectors, while maintaining a balance between local and regional economic exposures. Currently, these 30 stocks have a combined market capitalisation of more than S$560 billion.

In the 2019 year-to-date, the five best-performing constituents of the STI were: Thai Beverage (+27.2%), ComfortDelGro (+21.0%), Yangzijiang Shipbuilding (+19.2%), ST Engineering (+17.7%) and UOL Group (+17.2%). They have averaged a total return of +20.4% over the period.

With these YTD gains, ThaiBev, Yangzijiang and UOL have reversed their negative performances in 2018 – ThaiBev was the fourth least-performing stock last year with a total return of -31.7%, while UOL and Yangzijiang registered 2018 total returns of -28.8% and -11.4% respectively. On the other hand, extending their positive performances into the 2019 YTD were ComfortDelGro and ST Engineering, which posted 2018 total returns of +13.7% and +11.8% respectively.

In the YTD, the five least-performing STI constituents were: Dairy Farm International (-12.9%), Jardine Matheson (-8.0%), Genting Singapore (-5.8%), Jardine Cycle &amp; Carriage (-3.4%) and Hutchison Port Holdings Trust (-1.3%). They have averaged a total return of -6.3% over the period.

In contrast to their 2019 YTD performances, Dairy Farm and Jardine Matheson were the two best performers in calendar 2018, with total returns of +20.4% and +19.8%. Hutchison Port Holdings Trust, meanwhile, was the least-performing constituent in the STI last year, with a total return of -34.7%.

The table below details the calendar year 2018 and 2019 YTD performances of the 30 STI constituents, sorted by YTD total returns.

<table class="table table-striped"><tbody>
<tr>
<td>
			Name
			</td>
			<td>
			SGX Code
			</td>
			<td>
			Market Cap (S$M)
			</td>
			<td>
			Total Return YTD (%)
			</td>
			<td>
			Total Return 2018 (%)
			</td>
		</tr>
<tr>
<td>
			THAI BEVERAGE
			</td>
			<td>
			Y92
			</td>
			<td>
			19,337
			</td>
			<td>
			27.2
			</td>
			<td>
			-31.7
			</td>
		</tr>
<tr>
<td>
			COMFORTDELGRO CORP
			</td>
			<td>
			C52
			</td>
			<td>
			5,457
			</td>
			<td>
			21.0
			</td>
			<td>
			13.7
			</td>
		</tr>
<tr>
<td>
			YANGZIJIANG SHIPBUILDING
			</td>
			<td>
			BS6
			</td>
			<td>
			5,761
			</td>
			<td>
			19.2
			</td>
			<td>
			-11.4
			</td>
		</tr>
<tr>
<td>
			ST ENGINEERING
			</td>
			<td>
			S63
			</td>
			<td>
			12,175
			</td>
			<td>
			17.7
			</td>
			<td>
			11.8
			</td>
		</tr>
<tr>
<td>
			UOL GROUP
			</td>
			<td>
			U14
			</td>
			<td>
			6,003
			</td>
			<td>
			17.2
			</td>
			<td>
			-28.8
			</td>
		</tr>
<tr>
<td>
			ASCENDAS REIT
			</td>
			<td>
			A17U
			</td>
			<td>
			9,021
			</td>
			<td>
			17.1
			</td>
			<td>
			0.3
			</td>
		</tr>
<tr>
<td>
			VENTURE CORP
			</td>
			<td>
			V03
			</td>
			<td>
			4,550
			</td>
			<td>
			16.5
			</td>
			<td>
			-29.1
			</td>
		</tr>
<tr>
<td>
			WILMAR INTL
			</td>
			<td>
			F34
			</td>
			<td>
			22,151
			</td>
			<td>
			16.0
			</td>
			<td>
			4.3
			</td>
		</tr>
<tr>
<td>
			DBS GROUP HLDGS
			</td>
			<td>
			D05
			</td>
			<td>
			67,244
			</td>
			<td>
			14.6
			</td>
			<td>
			1.2
			</td>
		</tr>
<tr>
<td>
			CAPITALAND COMMERCIAL TRUST
			</td>
			<td>
			C61U
			</td>
			<td>
			7,162
			</td>
			<td>
			12.9
			</td>
			<td>
			-5.0
			</td>
		</tr>
<tr>
<td>
			GOLDEN AGRI-RESO
			</td>
			<td>
			E5H
			</td>
			<td>
			3,502
			</td>
			<td>
			12.4
			</td>
			<td>
			-33.6
			</td>
		</tr>
<tr>
<td>
			SATS LTD
			</td>
			<td>
			S58
			</td>
			<td>
			5,806
			</td>
			<td>
			12.0
			</td>
			<td>
			-7.2
			</td>
		</tr>
<tr>
<td>
			KEPPEL CORP
			</td>
			<td>
			BN4
			</td>
			<td>
			11,630
			</td>
			<td>
			11.2
			</td>
			<td>
			-16.4
			</td>
		</tr>
<tr>
<td>
			HONGKONG LAND*
			</td>
			<td>
			H78
			</td>
			<td>
			21,896
			</td>
			<td>
			11.1
			</td>
			<td>
			-6.1
			</td>
		</tr>
<tr>
<td>
			CAPITALAND LTD
			</td>
			<td>
			C31
			</td>
			<td>
			13,945
			</td>
			<td>
			10.7
			</td>
			<td>
			-9.0
			</td>
		</tr>
<tr>
<td>
			CAPITALAND MALL TRUST
			</td>
			<td>
			C38U
			</td>
			<td>
			9,000
			</td>
			<td>
			9.5
			</td>
			<td>
			12.7
			</td>
		</tr>
<tr>
<td>
			CITY DEVELOPMENTS
			</td>
			<td>
			C09
			</td>
			<td>
			7,745
			</td>
			<td>
			7.9
			</td>
			<td>
			-33.8
			</td>
		</tr>
<tr>
<td>
			SINGAPORE TELECOMS
			</td>
			<td>
			Z74
			</td>
			<td>
			51,109
			</td>
			<td>
			7.2
			</td>
			<td>
			-13.2
			</td>
		</tr>
<tr>
<td>
			SINGAPORE EXCHANGE
			</td>
			<td>
			S68
			</td>
			<td>
			7,874
			</td>
			<td>
			5.6
			</td>
			<td>
			0.4
			</td>
		</tr>
<tr>
<td>
			UNITED OVERSEAS BANK
			</td>
			<td>
			U11
			</td>
			<td>
			41,872
			</td>
			<td>
			5.2
			</td>
			<td>
			-3.3
			</td>
		</tr>
<tr>
<td>
			SINGAPORE PRESS HLDGS
			</td>
			<td>
			T39
			</td>
			<td>
			3,803
			</td>
			<td>
			3.5
			</td>
			<td>
			-6.9
			</td>
		</tr>
<tr>
<td>
			OCBC BANK
			</td>
			<td>
			O39
			</td>
			<td>
			47,588
			</td>
			<td>
			1.6
			</td>
			<td>
			-6.2
			</td>
		</tr>
<tr>
<td>
			SEMBCORP INDUSTRIES
			</td>
			<td>
			U96
			</td>
			<td>
			4,539
			</td>
			<td>
			1.1
			</td>
			<td>
			-15.0
			</td>
		</tr>
<tr>
<td>
			JARDINE STRATEGIC*
			</td>
			<td>
			J37
			</td>
			<td>
			55,741
			</td>
			<td>
			0.3
			</td>
			<td>
			-4.6
			</td>
		</tr>
<tr>
<td>
			SINGAPORE AIRLINES
			</td>
			<td>
			C6L
			</td>
			<td>
			11,174
			</td>
			<td>
			-0.2
			</td>
			<td>
			-8.2
			</td>
		</tr>
<tr>
<td>
			HUTCHISON PORT HLDGS TRUST*
			</td>
			<td>
			NS8U
			</td>
			<td>
			2,742
			</td>
			<td>
			-1.3
			</td>
			<td>
			-34.7
			</td>
		</tr>
<tr>
<td>
			JARDINE CYCLE &amp; CARRIAGE
			</td>
			<td>
			C07
			</td>
			<td>
			13,098
			</td>
			<td>
			-3.4
			</td>
			<td>
			-10.0
			</td>
		</tr>
<tr>
<td>
			GENTING SINGAPORE
			</td>
			<td>
			G13
			</td>
			<td>
			10,791
			</td>
			<td>
			-5.8
			</td>
			<td>
			-23.2
			</td>
		</tr>
<tr>
<td>
			JARDINE MATHESON*
			</td>
			<td>
			J36
			</td>
			<td>
			63,572
			</td>
			<td>
			-8.0
			</td>
			<td>
			19.8
			</td>
		</tr>
<tr>
<td>
			DAIRY FARM INTL*
			</td>
			<td>
			D01
			</td>
			<td>
			13,885
			</td>
			<td>
			-12.9
			</td>
			<td>
			20.4
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			8.2
			</td>
			<td>
			-8.4
			</td>
		</tr>
</tbody></table>
Source: Bloomberg &amp; StockFacts (data as of 16 May 2019) 
*These stocks are traded in USD, with their SGD equivalents shown in table.
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The STI is the most globally recognised benchmark index and market barometer for Singapore. The diversified index tracks the performance of the 30 largest and most liquid companies listed on Singapore Exchange. These 30 constituents have a combined market cap of more than S$560 billion. 
	 
	
In the 2019 YTD, the STI's five best-performing constituents were: Thai Beverage (+27.2%), ComfortDelGro (+21.0%), Yangzijiang Shipbuilding (+19.2%), ST Engineering (+17.7%) and UOL Group (+17.2%). They have averaged a total return of 20.4% over the period. 
	 
	With these YTD gains, ThaiBev, Yangzijiang and UOL have reversed their negative performances in 2018, while ComfortDelGro and ST Engineering have built on their positive performances from last year.

The Straits Times Index (STI) is the most globally recognised benchmark index and market barometer for Singapore. With a history dating back to 1966, the diversified index tracks the performance of the 30 largest and most liquid companies listed on Singapore Exchange. These 30 constituents have foundations spanning three centuries and multiple sectors, while maintaining a balance between local and regional economic exposures. Currently, these 30 stocks have a combined market capitalisation of more than S$560 billion.

In the 2019 year-to-date, the five best-performing constituents of the STI were: Thai Beverage (+27.2%), ComfortDelGro (+21.0%), Yangzijiang Shipbuilding (+19.2%), ST Engineering (+17.7%) and UOL Group (+17.2%). They have averaged a total return of +20.4% over the period.

With these YTD gains, ThaiBev, Yangzijiang and UOL have reversed their negative performances in 2018 – ThaiBev was the fourth least-performing stock last year with a total return of -31.7%, while UOL and Yangzijiang registered 2018 total returns of -28.8% and -11.4% respectively. On the other hand, extending their positive performances into the 2019 YTD were ComfortDelGro and ST Engineering, which posted 2018 total returns of +13.7% and +11.8% respectively.

In the YTD, the five least-performing STI constituents were: Dairy Farm International (-12.9%), Jardine Matheson (-8.0%), Genting Singapore (-5.8%), Jardine Cycle &amp; Carriage (-3.4%) and Hutchison Port Holdings Trust (-1.3%). They have averaged a total return of -6.3% over the period.

In contrast to their 2019 YTD performances, Dairy Farm and Jardine Matheson were the two best performers in calendar 2018, with total returns of +20.4% and +19.8%. Hutchison Port Holdings Trust, meanwhile, was the least-performing constituent in the STI last year, with a total return of -34.7%.

The table below details the calendar year 2018 and 2019 YTD performances of the 30 STI constituents, sorted by YTD total returns.




			Name
			
			
			SGX Code
			
			
			Market Cap (S$M)
			
			
			Total Return YTD (%)
			
			
			Total Return 2018 (%)
			
		


			THAI BEVERAGE
			
			
			Y92
			
			
			19,337
			
			
			27.2
			
			
			-31.7
			
		


			COMFORTDELGRO CORP
			
			
			C52
			
			
			5,457
			
			
			21.0
			
			
			13.7
			
		


			YANGZIJIANG SHIPBUILDING
			
			
			BS6
			
			
			5,761
			
			
			19.2
			
			
			-11.4
			
		


			ST ENGINEERING
			
			
			S63
			
			
			12,175
			
			
			17.7
			
			
			11.8
			
		


			UOL GROUP
			
			
			U14
			
			
			6,003
			
			
			17.2
			
			
			-28.8
			
		


			ASCENDAS REIT
			
			
			A17U
			
			
			9,021
			
			
			17.1
			
			
			0.3
			
		


			VENTURE CORP
			
			
			V03
			
			
			4,550
			
			
			16.5
			
			
			-29.1
			
		


			WILMAR INTL
			
			
			F34
			
			
			22,151
			
			
			16.0
			
			
			4.3
			
		


			DBS GROUP HLDGS
			
			
			D05
			
			
			67,244
			
			
			14.6
			
			
			1.2
			
		


			CAPITALAND COMMERCIAL TRUST
			
			
			C61U
			
			
			7,162
			
			
			12.9
			
			
			-5.0
			
		


			GOLDEN AGRI-RESO
			
			
			E5H
			
			
			3,502
			
			
			12.4
			
			
			-33.6
			
		


			SATS LTD
			
			
			S58
			
			
			5,806
			
			
			12.0
			
			
			-7.2
			
		


			KEPPEL CORP
			
			
			BN4
			
			
			11,630
			
			
			11.2
			
			
			-16.4
			
		


			HONGKONG LAND*
			
			
			H78
			
			
			21,896
			
			
			11.1
			
			
			-6.1
			
		


			CAPITALAND LTD
			
			
			C31
			
			
			13,945
			
			
			10.7
			
			
			-9.0
			
		


			CAPITALAND MALL TRUST
			
			
			C38U
			
			
			9,000
			
			
			9.5
			
			
			12.7
			
		


			CITY DEVELOPMENTS
			
			
			C09
			
			
			7,745
			
			
			7.9
			
			
			-33.8
			
		


			SINGAPORE TELECOMS
			
			
			Z74
			
			
			51,109
			
			
			7.2
			
			
			-13.2
			
		


			SINGAPORE EXCHANGE
			
			
			S68
			
			
			7,874
			
			
			5.6
			
			
			0.4
			
		


			UNITED OVERSEAS BANK
			
			
			U11
			
			
			41,872
			
			
			5.2
			
			
			-3.3
			
		


			SINGAPORE PRESS HLDGS
			
			
			T39
			
			
			3,803
			
			
			3.5
			
			
			-6.9
			
		


			OCBC BANK
			
			
			O39
			
			
			47,588
			
			
			1.6
			
			
			-6.2
			
		


			SEMBCORP INDUSTRIES
			
			
			U96
			
			
			4,539
			
			
			1.1
			
			
			-15.0
			
		


			JARDINE STRATEGIC*
			
			
			J37
			
			
			55,741
			
			
			0.3
			
			
			-4.6
			
		


			SINGAPORE AIRLINES
			
			
			C6L
			
			
			11,174
			
			
			-0.2
			
			
			-8.2
			
		


			HUTCHISON PORT HLDGS TRUST*
			
			
			NS8U
			
			
			2,742
			
			
			-1.3
			
			
			-34.7
			
		


			JARDINE CYCLE &amp; CARRIAGE
			
			
			C07
			
			
			13,098
			
			
			-3.4
			
			
			-10.0
			
		


			GENTING SINGAPORE
			
			
			G13
			
			
			10,791
			
			
			-5.8
			
			
			-23.2
			
		


			JARDINE MATHESON*
			
			
			J36
			
			
			63,572
			
			
			-8.0
			
			
			19.8
			
		


			DAIRY FARM INTL*
			
			
			D01
			
			
			13,885
			
			
			-12.9
			
			
			20.4
			
		


			Average
			
			
			 
			
			
			 
			
			
			8.2
			
			
			-8.4
			
		

Source: Bloomberg &amp; StockFacts (data as of 16 May 2019) 
*These stocks are traded in USD, with their SGD equivalents shown in table.



Five Best-Performing STI Constituents Returned 20% in YTD