Since 2014, the STI has seen as many as 5 new companies and 5 REITs join the Index, attributed to increased STI liquidity requirements and comparatively strong performances of the global REIT Sector. Another 2 stocks, Jardine Matheson & Jardine Strategic re-joined the STI in 2016 and 2017. Together the 10 new entrants have averaged 8.8% annualised 5-year total returns (median 9.9%) through to the end of July 2020.
SGX’s three largest Mapletree REITs by market cap are Mapletree Logistics Trust, Mapletree Industrial Trust and Mapletree Commercial Trust. For the quarter, Mapletree Logistics Trust and Mapletree Industrial Trust reported a DPU of 2.045 Singapore cents and 2.87 Singapore cents, up 1.0% and down 7.4% y-o-y respectively. Mapletree Commercial Trust, which provided a business update, did not report a DPU.
4 of Singapore’s 5 most traded energy stocks have outperformed global peers over the past 12-month of swinging oil prices. The 5 Singapore stocks - Rex International, Interra Resources, Mermaid Maritime PCL, AusGroup and China Aviation Oil generated a median decline of 1% over the 12-month. Both Exploration & Production stocks, Rex International and Interra Resources, generated respective gains of 178% and 70%.
SPH REIT kicked off the current financial reporting season for Singapore REITs on 1 July 2020 with the release of its fiscal 3Q ended 31 May 2020 business update. A total of 19 S-REITs have confirmed that they will unveil results for the half year ended 30 June 2020 between 16 July and 29 July.
SATS kicked off the current financial reporting season for STI constituents on 9 July 2020. Mapletree Logistics Trust, Mapletree Industrial Trust, CapitaLand Mall Trust, Ascendas REIT and CapitaLand Commercial Trust – will unveil their earnings over the next week.
Singapore’s 5 most traded stocks that either provide semiconductor services or manufacture semiconductors are AEM, UMS, ASTI Holdings, Avi-Tech Electronics and Micro-Mechanics. The 5 stocks have also suited shorter term momentum traders in the 2020 year to date, with average declines of 36% in the declines to 23 March, followed by average gains of 73% between 23 March and 8 July.
Median returns indicate that regional Utility stocks have been less volatile and better performing than Energy stocks in the 2020 YTD. Catalist-listed Union Gas has led the performance of Singapore’s largest Utility plays in the 2020 YTD with a 20% total return. The demerger of Singapore’s largest Utility play, Sembcorp Industries, from Sembcorp Marine (announced 8 June) aims to strengthen both firms’ financial positions, enabling each entity to better focus on its respective industry and pursue a sustainable growth path.
The STI’s performance in 2H20 will largely be determined by the performance of its two biggest Sectors - Banks and Real Estate. While both of these Sectors lagged globally for much of 1H20 - they have led STI stocks in the first four sessions of July, seeing similar sized net institutional inflows.
Of Singapore’s most 100 traded stocks in 1H20, the 20 most defensive stocks included 4 current STI constituents, with Technology and Healthcare stocks also amongst the strongest performers in the local stock market. The 4 STI stocks that ranked amongst these 20 most defensive stocks included Mapletree Industrial Trust, Mapletree Logistic Trust, Ascendas REIT & Venture Corporation.
In 1H20, 81 Singapore primary-listed stocks conducted buybacks with a total consideration of S$663 million, up from S$325 million in 1H2019, and less than S$836 million in 1H2018. The S$663 million buyback consideration represented less than 0.1% of the total market value of all stocks listed in Singapore, which stood at S$817 billion on 30 June. DBS, OCBC and UOB led the buyback consideration.
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