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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<li>
Singapore’s listed healthcare sector, as tracked by the benchmark iEdge SG All Healthcare Index, comprises companies that operate in the segments of pharmaceuticals and biotech, clinic and patient services, as well as medical equipment and supplies.  
	 </li>
	<li>
Healthcare was among the top net buy sectors on SGX in April, garnering net institutional inflows of S$3.9 million, up from net inflows of S$2.1 million in March. 
	 </li>
	<li>
SGX lists eight pharmaceutical stocks, all of which are constituents of the iEdge SG All Healthcare Index. Haw Par, Tianjin Zhongxin Pharma and iX Biopharma are the three largest and most actively traded pharma stocks. They are also the pharma stocks with the biggest weights in the Index. 
	 </li>
	<li>In the 2019 YTD, the three best-performing pharma stocks were: Biolidics (+27.3%), Haw Par (+25.0%) and iX Biopharma (+18.0%). They have averaged a total return of 23.4% over the period.</li>
</ul>
The listed healthcare sector in Singapore, as tracked by the benchmark iEdge SG All Healthcare Index, comprises companies that operate in the segments of pharmaceuticals and biotechnology, clinic and patient services, as well as medical equipment and supplies.

Singapore’s healthcare sector is typically viewed as a defensive segment, poised to enjoy multi-year growth prospects. Drivers of Asia’s increased healthcare spending levels include accelerated ageing rates, the rise of lifestyle diseases like diabetes and hypertension, as well as growing disposable incomes. 

Healthcare was among the top net buy sectors on SGX in April, garnering net institutional inflows of S$3.9 million, up from net inflows of S$2.1 million in March, SGX data showed.
<figure>
 <img src="https://api2.sgx.com/sites/default/files/2019-05/Institutional%20Inflows%20for%20Healthcare%20Sector%20in%202019%20YTD%20%28S%24M%29_0.png" alt="Institutional Inflows for Healthcare Sector in 2019 YTD (S$M)">
 </figure>
 <div class="content-caption">Institutional Inflows for Healthcare Sector in 2019 YTD (S$M)</div>
In the 2019 year-to-date, the iEdge SG All Healthcare Index has registered a price gain of 1.7%, compared with gains of 6.7% for the benchmark Straits Times Index (STI), 3.9% for the MSCI AC Asia ex-Japan Health Care Index, and 3.7% for the MSCI ACWI Asia Health Care Index.
<figure>
 <img src="https://api2.sgx.com/sites/default/files/2019-05/2019%20YTD%20Price%20Change%20%28%25%29.png" alt="2019 YTD price change (%)">
 </figure>
 <div class="content-caption">2019 YTD price change (%)</div>
SGX lists eight pharmaceutical stocks, all of which are constituents of the iEdge SG All Healthcare Index. Haw Par Corp, Tianjin Zhongxin Pharmaceutical Group and iX Biopharma are the three largest and most actively traded pharma stocks. They are also the pharma stocks with the biggest weights in the Index – at 10.95%, 10.29% and 1.41% respectively.

Two of the three – Haw Par and iX Biopharma – have seen an increase in average daily trading values in the 2019 YTD, compared with calendar year 2018. In the YTD, Haw Par generated an average daily traded value of S$815,883, up 2.5% from 2018, while iX Biopharma registered an average daily traded value of S$50,538 in the YTD, reflecting an increase of 10.9% from the last calendar year.

Two recent additions to the sector – Hyphens Pharma and Biolidics – were listed on SGX in May 2018 and December 2018 respectively. They have weightings of 0.25% and 0.82% respectively in the Index.

In the 2019 YTD, the three best-performing pharma stocks were: Biolidics (+27.3%), Haw Par (+25.0%) and iX Biopharma (+18.0%). They have averaged a total return of 23.4% over the period.

The table below details the eight pharmaceutical stocks listed on SGX, sorted by market capitalisation.

<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 1Y (%)
			</td>
			<td>
			Total Return 3Y (%)
			</td>
			<td>
			Total Return 5Y (%)
			</td>
			<td>
			Div Ind Yld (%)
			</td>
			<td>
			P/E (x)
			</td>
		</tr>
<tr>
<td>
			HAW PAR CORP
			</td>
			<td>
			H02
			</td>
			<td>
			3,094
			</td>
			<td>
			25.0
			</td>
			<td>
			12.0
			</td>
			<td>
			84.8
			</td>
			<td>
			99.1
			</td>
			<td>
			2.1
			</td>
			<td>
			17.0
			</td>
		</tr>
<tr>
<td>
			TIANJIN ZHONGXIN PHARMACEUTICAL*
			</td>
			<td>
			T14
			</td>
			<td>
			1,964
			</td>
			<td>
			8.8
			</td>
			<td>
			-17.1
			</td>
			<td>
			19.7
			</td>
			<td>
			5.8
			</td>
			<td>
			3.3
			</td>
			<td>
			8.4
			</td>
		</tr>
<tr>
<td>
			IX BIOPHARMA
			</td>
			<td>
			42C
			</td>
			<td>
			135
			</td>
			<td>
			18.0
			</td>
			<td>
			32.1
			</td>
			<td>
			-39.2
			</td>
			<td>
			NA
			</td>
			<td>
			 NA
			</td>
			<td>
			 NA
			</td>
		</tr>
<tr>
<td>
			BIOLIDICS LTD
			</td>
			<td>
			8YY
			</td>
			<td>
			68
			</td>
			<td>
			27.3
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
			<td>
			 NA
			</td>
			<td>
			 NA
			</td>
		</tr>
<tr>
<td>
			HYPHENS PHARMA
			</td>
			<td>
			1J5
			</td>
			<td>
			63
			</td>
			<td>
			10.5
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
			<td>
			2.6
			</td>
			<td>
			11.7
			</td>
		</tr>
<tr>
<td>
			SUNTAR ECO-CITY
			</td>
			<td>
			BKZ
			</td>
			<td>
			9.4
			</td>
			<td>
			0.0
			</td>
			<td>
			-0.7
			</td>
			<td>
			-70.0
			</td>
			<td>
			-45.5
			</td>
			<td>
			 NA
			</td>
			<td>
			 NA
			</td>
		</tr>
<tr>
<td>
			STAR PHARMACEUTICAL
			</td>
			<td>
			AYL
			</td>
			<td>
			7.3
			</td>
			<td>
			-6.4
			</td>
			<td>
			40.4
			</td>
			<td>
			-18.8
			</td>
			<td>
			-37.3
			</td>
			<td>
			 NA
			</td>
			<td>
			3.2
			</td>
		</tr>
<tr>
<td>
			PHARMESIS INTL
			</td>
			<td>
			BFK
			</td>
			<td>
			4.7
			</td>
			<td>
			-18.0
			</td>
			<td>
			-26.8
			</td>
			<td>
			-49.4
			</td>
			<td>
			-58.2
			</td>
			<td>
			 NA
			</td>
			<td>
			18.3
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			65.1
			</td>
			<td>
			39.9
			</td>
			<td>
			-72.9
			</td>
			<td>
			-36.0
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
		</tr>
</tbody></table>
Source: Bloomberg &amp; StockFacts (data as of 10 May 2019) 
*Note: Tianjin Zhongxin is traded in USD with SGD equivalents shown in table
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Singapore’s listed healthcare sector, as tracked by the benchmark iEdge SG All Healthcare Index, comprises companies that operate in the segments of pharmaceuticals and biotech, clinic and patient services, as well as medical equipment and supplies.  
	 
	
Healthcare was among the top net buy sectors on SGX in April, garnering net institutional inflows of S$3.9 million, up from net inflows of S$2.1 million in March. 
	 
	
SGX lists eight pharmaceutical stocks, all of which are constituents of the iEdge SG All Healthcare Index. Haw Par, Tianjin Zhongxin Pharma and iX Biopharma are the three largest and most actively traded pharma stocks. They are also the pharma stocks with the biggest weights in the Index. 
	 
	In the 2019 YTD, the three best-performing pharma stocks were: Biolidics (+27.3%), Haw Par (+25.0%) and iX Biopharma (+18.0%). They have averaged a total return of 23.4% over the period.

The listed healthcare sector in Singapore, as tracked by the benchmark iEdge SG All Healthcare Index, comprises companies that operate in the segments of pharmaceuticals and biotechnology, clinic and patient services, as well as medical equipment and supplies.

Singapore’s healthcare sector is typically viewed as a defensive segment, poised to enjoy multi-year growth prospects. Drivers of Asia’s increased healthcare spending levels include accelerated ageing rates, the rise of lifestyle diseases like diabetes and hypertension, as well as growing disposable incomes. 

Healthcare was among the top net buy sectors on SGX in April, garnering net institutional inflows of S$3.9 million, up from net inflows of S$2.1 million in March, SGX data showed.

      
    
    Institutional Inflows for Healthcare Sector in 2019 YTD (S$M)
In the 2019 year-to-date, the iEdge SG All Healthcare Index has registered a price gain of 1.7%, compared with gains of 6.7% for the benchmark Straits Times Index (STI), 3.9% for the MSCI AC Asia ex-Japan Health Care Index, and 3.7% for the MSCI ACWI Asia Health Care Index.

      
    
    2019 YTD price change (%)
SGX lists eight pharmaceutical stocks, all of which are constituents of the iEdge SG All Healthcare Index. Haw Par Corp, Tianjin Zhongxin Pharmaceutical Group and iX Biopharma are the three largest and most actively traded pharma stocks. They are also the pharma stocks with the biggest weights in the Index – at 10.95%, 10.29% and 1.41% respectively.

Two of the three – Haw Par and iX Biopharma – have seen an increase in average daily trading values in the 2019 YTD, compared with calendar year 2018. In the YTD, Haw Par generated an average daily traded value of S$815,883, up 2.5% from 2018, while iX Biopharma registered an average daily traded value of S$50,538 in the YTD, reflecting an increase of 10.9% from the last calendar year.

Two recent additions to the sector – Hyphens Pharma and Biolidics – were listed on SGX in May 2018 and December 2018 respectively. They have weightings of 0.25% and 0.82% respectively in the Index.

In the 2019 YTD, the three best-performing pharma stocks were: Biolidics (+27.3%), Haw Par (+25.0%) and iX Biopharma (+18.0%). They have averaged a total return of 23.4% over the period.

The table below details the eight pharmaceutical stocks listed on SGX, sorted by market capitalisation.




			Name
			
			
			SGX Code
			
			
			Market Cap (S$M)
			
			
			Total Return YTD (%)
			
			
			Total Return 1Y (%)
			
			
			Total Return 3Y (%)
			
			
			Total Return 5Y (%)
			
			
			Div Ind Yld (%)
			
			
			P/E (x)
			
		


			HAW PAR CORP
			
			
			H02
			
			
			3,094
			
			
			25.0
			
			
			12.0
			
			
			84.8
			
			
			99.1
			
			
			2.1
			
			
			17.0
			
		


			TIANJIN ZHONGXIN PHARMACEUTICAL*
			
			
			T14
			
			
			1,964
			
			
			8.8
			
			
			-17.1
			
			
			19.7
			
			
			5.8
			
			
			3.3
			
			
			8.4
			
		


			IX BIOPHARMA
			
			
			42C
			
			
			135
			
			
			18.0
			
			
			32.1
			
			
			-39.2
			
			
			NA
			
			
			 NA
			
			
			 NA
			
		


			BIOLIDICS LTD
			
			
			8YY
			
			
			68
			
			
			27.3
			
			
			NA
			
			
			NA
			
			
			NA
			
			
			 NA
			
			
			 NA
			
		


			HYPHENS PHARMA
			
			
			1J5
			
			
			63
			
			
			10.5
			
			
			NA
			
			
			NA
			
			
			NA
			
			
			2.6
			
			
			11.7
			
		


			SUNTAR ECO-CITY
			
			
			BKZ
			
			
			9.4
			
			
			0.0
			
			
			-0.7
			
			
			-70.0
			
			
			-45.5
			
			
			 NA
			
			
			 NA
			
		


			STAR PHARMACEUTICAL
			
			
			AYL
			
			
			7.3
			
			
			-6.4
			
			
			40.4
			
			
			-18.8
			
			
			-37.3
			
			
			 NA
			
			
			3.2
			
		


			PHARMESIS INTL
			
			
			BFK
			
			
			4.7
			
			
			-18.0
			
			
			-26.8
			
			
			-49.4
			
			
			-58.2
			
			
			 NA
			
			
			18.3
			
		


			Average
			
			
			 
			
			
			 
			
			
			65.1
			
			
			39.9
			
			
			-72.9
			
			
			-36.0
			
			
			 
			
			
			 
			
		

Source: Bloomberg &amp; StockFacts (data as of 10 May 2019) 
*Note: Tianjin Zhongxin is traded in USD with SGD equivalents shown in table



Three Best-Performing Pharmaceutical Stocks Returned 23% in YTD