Author: SGX My Gateway

Retail REITs Led Sector Performance in Recent Years

Singapore’s REIT Sector has averaged a 2.1% YTD gain, taking the average 12–month total return to 13.2%. The Bloomberg Asia REIT Index performed similarly with a 0.8% YTD gain, and 12-month 12.3% total return. Retail REITs have been the best-performing of the biggest REIT segments in 2017 YTD, in addition to the last three years, with average 36.7% total returns. The Retail REITs also maintain the lowest average debt-to-asset ratios and the second-highest ROE history amongst these five REIT segments. Yesterday, SPH REIT reported a 0.8% year-on-year rise in distribution per unit (DPU) to 1.34 Singapore cents for the...

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SGX Real Estate 20 Index Began 2017 with Broad-Based Gains

All constituents of the SGX Real Estate 20 Index generated positive gains in the first five sessions of 2017; returns of the 20 stocks averaged 3.7%, taking average 12 month total returns to 14.6%. The SGX Real Estate 20 Index makes up one-tenth of the total market capitalisation of all stocks listed on SGX. The Index includes the eight Real Estate plays within the STI, in addition to three of the five stocks that make up the STI Reserve List –  Suntec REIT, Mapletree Commercial Trust and Keppel REIT. The average P/B of the 20 constituents is 0.9x. The...

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10 Biggest Mid Cap Index Constituents Averaged 16% Returns in 2016

The FTSE ST Mid Cap Index is made up of 40 mid-capitalised stocks with a combined market capitalisation of S$100 billion. Like the larger capitalised STI, it is a free float-adjusted market capitalisation-weighted Index. For the 2016 year, the FTSE ST Mid Cap Index generated a 6.5% total return, taking its five-year total return to 44.5%. The 10 biggest weights of the Index have averaged a 15.6% total return in 2016 and include six Real Estate plays. For the 2016 year, the five best performers of the FTSE ST Mid Cap Index were ARA Asset Management, United Engineers, Yanlord...

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Consumer Staples Sector Surged 26% in 2016

In 2016, Singapore’s Consumer Staples Sector surged 25.8% on a capitalisation-weighted total return basis. There was a degree of consistency in the returns of the 10 biggest stocks of the Sector with total returns averaging 28.9%.   Among the 10 biggest stocks of the Consumer Staples Sector, the three best performers were Japfa, Super Group & GAR. For the nine months ending 30 Sep 2016: Japfa reported operating profit of US$268.4 million, up 90% from a year ago; while GAR reported profit attributable to owners of the company at US$353.3 million compared to a loss of US$9.2 million a...

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YTD Performance Highlights of FTSE ST Small Cap Index Constituents

The FTSE ST Small Cap Index is a free float-adjusted, market capitalisation-weighted index representing the performance of small-capitalised companies listed on the SGX Mainboard. A component stock of the FTSE ST Small Cap Index has an average market capitalisation of S$563 million. In the YTD, the five best–performing constituents of the FTSE ST Small Cap Index were Best World International (+377.5%), Japfa (+96.1%), Geo Energy Resources (+60.7%), Super Group  (+56.4%) and PEC (+51.2%). These five stocks have a combined market capitalisation of S$3.8 billion, and represent 6.3% of the Index. Together, they averaged a 128.4% total return over the...

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FTSE ST Mid Cap Index Extended 5 Yr Gain to 46% in 2016 YTD

The FTSE ST Mid Cap Index is a free float adjusted market-capitalisation weighted index representing the performance of the mid-capitalised companies trading listed on the SGX Mainboard. The average market capitalisation of a FTSE ST Mid Cap Index constituent is S$2.5 billion. With no changes at the most recent rebalance, effective today’s open, there remains 40 constituents in the FTSE ST Mid Cap Index. In the 2016 YTD, the FTSE ST Mid Cap Index generated a 7.3% total return, taking its five year total return to 45.5%. In the YTD, the five best performers of the FTSE ST Mid...

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Growth of Singapore’s Coal Mining Stocks

Singapore lists four Coal mining plays – Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources. All four stocks mine thermal coal – used to generate electricity, with mining conducted in Indonesia, and all companies report in US Dollars. The YTD returns of the four Coal miners have been mixed, with average returns of 1% in the 2016 year thus far. Geo Energy Resources has been the best performing of the four stocks with a 57% return. Following a 3Q16 turnaround profit of US$11.6 million, the RTO of Golden Energy and Resources debuted this week...

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Consumer Sector Spotlight Continued Into Early December

While the STI generated a total return of 4.4% in the first 11 months of 2016, the three STI Consumer Staples Stocks averaged a 27.2% total return and the three STI Consumer Discretionary Stocks averaged a 15.2% total return. Last week two Consumer Staples stocks – Bumitama Agri and Dairy Farm International Holdings, and two Consumer Discretionary stocks – Parkson Retail Asia and Genting Singapore, were among the 10 most actively traded stocks with the biggest volume increases. All four Consumer Sector plays gained last week, averaging a 5.3% total return. While the Consumer Sectors were the strongest performers...

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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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