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

Equity Bottom-Up

<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 (FLT SP)

Keppel DC REIT

Two S-REITs Lead the STI in Early 2023