Author: SGX My Gateway

SGX Institutional Fund Flow Monthly Tracker

Sector Returns and Institutional Fund Flow Shifts Banks, Materials and Consumer Discretionary total returns paced overall Singapore stock market in November In the month of November, the market capitalization weighted total returns for the overall Singapore stock market was at +1.8%, which compares with the Straits Times Index (STI) +3.3%. By sector*, the market was paced by Banks (+11.4%), Materials (+6.9%) and Consumer Discretionary (+5.3%). This was partially offset by Telecommunication Services (-3.4%), REITs (-2.9%) and Industrials (-2.3%). Sectorial rotation was in play during the month as investor fund flows shift to Banks from defensive sectors (e.g. Telecommunications Services,...

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SGX MOE Index Gains 12.5% in a Month as Crude Rallies on OPEC Cuts

The SGX MOE Index gained 12.5% in the past month, mainly due to crude prices which rallied 16.4% after OPEC announced production cuts. The five best-performing SGX MOE Index constituents are Ezion Holdings (+26.7%), IEV Holdings (+24.5%), Vard Holdings (+22.4%), AusGroup (+22.0%) and Yangzijiang Shipbuilding (+16.6%). These five stocks averaged 22.4% total return in the past month.   The SGX MOE Index consists of 18 constituents and has a combined market capitalisation of over S$29 billion. Index constituents include shipyard operators, shipping companies and companies providing offshore services. WTI Crude Rallies on OPEC Output Cuts West Texas Intermediate (WTI) Crude...

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Real Estate Plays Feature in November’s Volume Leaders

The month of November saw six different sectors represented among the 10 most actively traded stocks with the biggest volume increases.  Almost half of the 10 most actively traded stocks were real estate plays. They comprised two REITs – AIMS AMP Capital Industrial REIT and Manulife US REIT, one Real Estate Developer  – GSH Corporation, and one Real Estate Operating Company – Global Logistic Properties.  The four Real Estate plays averaged a total return of 6.2% in the month of November, bringing their YTD total return to 24.5%. Total returns for the month ranged from Global Logistic Properties with...

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Semiconductors Continue to Power Singapore’s Manufacturing Output

Output from Singapore’s semiconductors sector (accounting for 17% of total manufacturing activity) increased 41.7% YoY in October 2016, building on the 35.9% expansion seen in September. The global semiconductor industry also saw resurgent sales momentum. Singapore-listed semiconductor stocks averaged a total return of 21.3% in the year–to–date, outperforming the FTSE ST All Share Index’s 5.2% total return in the same period. The three best-performing semiconductor stocks over the period were AEM Holdings (+152.4%), Avi-Tech Electronics (+55.6%) and Sunright (+54.6%). The five largest semiconductor stocks in Singapore by market capitalisation are UMS Holdings, Micro-Mechanics, Ellipsiz, CDW Holding, and Avi-Tech Electronics....

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Consumer Staples Sector Resilient Despite Flight to Cyclicals Post Election

Singapore’s stock market has seen mixed returns across sectors post US-elections, with evidence of sector rotation to cyclical plays from less cyclical stocks. Singapore’s Consumer Staples Sector has remained relatively resilient despite its defensive nature, averaging a total return of 0.9% in the month-to-date, in line with STI’s 1.0%, but outperforming the MSCI AC Asia Pacific Consumer Staples Index’s -4.0%. The 10 biggest Consumer Staples stocks in Singapore have averaged a total return of 29.4% in the year to date. Consensus data suggests these companies are expected to grow earnings by 14.3% next year. Sector Rotation in Play post-US...

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S-REITs Trading at Discounts to Historical Median Book Values

Post-US elections, the SGX S-REIT Index has corrected 4.5%, underperforming the flat performance of the benchmark Straits Times Index (STI), but in line with that of the MSCI World REIT Index, largely due to rising expectations of an interest rate hike by the Fed next month. Post-correction, the SGX S-REIT Index now trades at 0.92x its book value, with 17 constituent REITs trading below the Index’s price-to-book valuation. The six REITs trading at the steepest discounts to their book values are: Far East Hospitality Trust (0.63x), Sabana Shari’ah REIT (0.64x), Keppel REIT (0.67x), Suntec REIT (0.73x), Starhill Global REIT...

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Key Maritime Plays Gained 5% on Wednesday

On Wednesday, trading volume of COSCO Corporation (Singapore) was almost triple its three month average volume, and trading volume of Yangzijiang Shipbuilding Holdings was more than double its three month average volume. On the close, the two stocks delivered respective session gains of 5.9% and 5.2%. These two stocks are two of four stocks that make up the FTSE ST Maritime Index. The remaining two stocks of the Index  – Nam Cheong and PACC Offshore Services Holdings also generated gains of 6.8% and 4.9% on Wednesday.  The FTSE ST Maritime Index generated an one-day gain of 5.3% reducing its...

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Singapore Banks averaged 4.1% Gain over Past Six Sessions

Singapore’s three listed banks, DBS, OCBC and UOB averaged a marginal gain yesterday amidst declines in the broader markets. This was on the back of a 4.0% average gain last week, in contrast to the Bloomberg Asia Pacific Banks Index gain of 3.4%. Last week’s combined turnover of the three banks was more than double the preceding week. The average daily combined turnover of the three banks for last week was S$351 million, compared to S$132 million in the preceding week sessions. The banks were the top three stocks that institutional investors bought for the week of 7 November....

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ETF Performance Highlights During, Post-US Elections

The unexpected election of Donald Trump as US President has sparked increased volatility and uncertainty in global markets this week. A Trump victory initially triggered a knee-jerk collapse in stock market futures and a surge in gold prices as investors fled to haven assets, but since then, global equity and commodity markets have registered mixed performances. The three most active ETFs on SGX for the two days surrounding the US Presidential elections (8-10 November) were SPDR® Gold Shares ETF, iShares MSCI India Index ETF, SPDR® Straits Times Index ETF The three best-performing ETFs over the two days were SPDR®...

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Gold Mining Trio Averaged 5% Session Gain on Wednesday

The three SGX-listed gold mining stocks have averaged 4.6% gain on Wednesday, ranging from +2.9% for Anchor Resources to 5.9% for Wilton Resources.   All three SGX-listed gold mining stocks are at different stages of exploration and production and have all provided recent updates to their operations in the past fortnight. The SPDR® Gold Shares ETF gained 0.9% (1.5% in SGD) yesterday, bringing the one-month SGD equivalent total return to 4.8% and YTD gain to 19.2%. SGX lists three gold mining stocks with a combined market capitalisation of more than S$400 million. The three stocks averaged a 4.6% total return...

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Singapore Healthcare Sector Outperforms Regional Benchmark in YTD

The SGX All Healthcare Index has generated a 6.4% total return in the year-to-date, and maintains a dividend yield of 5.9%. This compares with the MSCI AC Asia Pacific Asia ex-Japan Health Care Index, which has declined 2.4% in Singapore dollar terms over the same period, and maintains a yield of 1.2%. The three best-performing components of the SGX All Healthcare Index are Singapore Medical Group (+165.2%), Health Management International (+65.9%) and Singapore O&G (+58.0%). The three Health Care trusts listed on SGX – First REIT, Parkway Life REIT and RHT Health Trust – have a combined market capitalisation...

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