In March 2019, 27 SGX primary-listed stocks repurchased as many as 50 million shares with a total consideration of S$54 million. 5 stocks commenced new buyback mandates in the month of March 2019: Hong Fok Corporation, Kimly, Aspen (Group) Holdings, MDR & GRP. Relative to outstanding shares, Hong Fok Corporation bought back 0.77% of its shares during the month.
Analysts have noted revived investor interest in S-REITs since late last year, driven by a flight to safety amidst the uncertain outlook for US-Sino trade negotiations, the hunt for higher yields, and as global equity markets remained volatile. In the YTD, the five best-performing S-REITs were: Sasseur REIT (25.0%), Capitaland Retail China Trust (19.4%), Keppel-KBS US REIT (18.2%), Mapletree Logistics Trust (17.6%), and Mapletree North Asia Commercial Trust (17.6%).
The FTSE Value-Stocks ASEAN Index consists of 50 quality value stocks amongst liquid and tradable ASEAN companies listed on the Indonesia Stock Exchange, Bursa Malaysia, the Philippine Stock Exchange, Singapore Exchange and the Stock Exchange of Thailand. Of the 50 constituents, 10 are listed on SGX.
SGX's 10 largest OSV stocks, with a combined market cap of more than S$1 billion, have averaged a 30.9% price rebound from their 52W lows, in line with recent crude gains. The five that posted the strongest price rebound from their 12M troughs were: Amos Group (160.9%), Sinwa (57.9%), Vallianz (30.0%), Dyna-Mac (23.0%), and Baker Technology (9.2%).
China’s Belt and Road Initiative (BRI) is expected to bring many benefits to ASEAN as increased Chinese capital flows through infrastructure projects spanning ports, roads, railways and energy sectors. Apart from obvious beneficiaries such as EC World REIT and Yangzijiang Shipbuilding, there are at least 6 other small- to mid-cap SGX firms that have cited BRI as a growth impetus in their most recent annual reports. They are: Frasers Logistics and Industrial Trust, Tai Sin Electric, Vibrant Group, Hong Lai Huat, ASL Marine and Addvalue Technologies.
The iEdge SG MOE Index is a free-float, market capitalisation-weighted index that measures the performance of listed maritime and offshore (MOE) companies in Singapore. The Index comprises 12 constituents, with a combined market cap of about S$30 billion. In the YTD, the 5 best-performing Index constituents were: Yangzijiang Shipbuilding (+14.4%), Marco Polo Marine (+5.3%), Sembcorp Marine (+5.2%), COSCO Shipping (+4.5%), and Keppel Corp (+3.7%).
SGX lists 10 stocks that provide infrastructure for water, wastewater treatment and supply services, and they have a combined market capitalisation of nearly S$10 billion. In the 2019 YTD, the 3 largest capitalised, best-performing water plays were: SIIC Environment (+34.5%), CITIC Envirotech (+18.4%), and China Everbright Water (+18.3%).
The STI Reserve List is comprised of Mapletree Commercial Trust, Suntec REIT, Mapletree Logistics Trust, Keppel REIT and Mapletree North Asia Commercial Trust. Together, the five REITs have averaged a 13.4% total return in 2019 YTD. In 2019 YTD, trading volumes for four of the five REITs, Mapletree Commercial Trust, Mapletree Logistics Trust, Keppel REIT and Mapletree North Asia Commercial Trust, have surged 40% compared to their combined trading volumes in 2018.
In the 2019 YTD, the 3 largest capitalised, best-performing constituents of the iEdge SG Oil & Gas Index were: Rex International (+32.7%), China Aviation Oil (+20.8%) and GSS Energy (+9.9%). They have averaged a total return of +21.1% in the YTD, bringing their 1Y and 3Y total returns to -4.5% and 34.9% respectively. Share prices of most Index constituents have also recovered from their 12M troughs, in line with recent crude gains.
In Singapore, approximately 80 stocks are regarded as “mid-cap” stocks on their relative market capitalisation, which ranges from S$1 billion to S$6 billion. Of the group, 39 stocks currently maintain a market capitalisation between S$1 billion and S$2 billion. Of the 39 stocks, two technology stocks, Hi-P International & Silverlake Axis, were the strongest segment in the 2019 YTD, averaging a 55.5% return, while the Real Estate Sector with 22 of the 39 stocks, averaged an 8.0% total return.
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