SGX Market Updates

FTSE ST China Index’s 5 Largest Best Performers Returned 37% in 2019


PUBLISHED ON |

06 January 2020

  • The FTSE ST China Index consists of stocks of the FTSE ST All-Share Index that have reported either at least 50% of their revenues from Mainland China, or have at least 50% of their operating assets located in the country.

  • The 10 largest constituents of the Index have a combined market cap of more than S$40 billion. Among these 10, the five best performers over the course of 2019 were: Sasseur REIT (+52%), CITIC Envirotech (+46%), Wilmar (+36%), CapitaLand Retail China Trust (+28%) and China Aviation Oil (+24%).

  • These 5, which belong to the real estate, environmental solutions, agrifood and energy sectors, have averaged a total return of +37% over the past year.




The FTSE ST China Index consists of stocks of the FTSE ST All-Share Index that have reported either at least 50% of their revenues from Mainland China, or have at least 50% of their operating assets located in the country. The 10 largest constituents of the Index have a combined market capitalisation of more than S$40 billion.

Among the Index’s 10 biggest stocks, the 5 best performers over the course of 2019 were: Sasseur REIT (+52%), CITIC Envirotech (+46%), Wilmar International (+36%), CapitaLand Retail China Trust (+28%) and China Aviation Oil (+24%). The 5, which belong to the real estate, environmental solutions, agrifood and energy sectors, have averaged a total return of +37% over the last year.


The table below details the 10 largest constituents of the FTSE ST China Index, sorted by market cap.

Name SGX
Code
Mkt Cap
(S$M)
2019
Volatility
2019
Price Change
2019
Total Return
Average
Daily
Turnover
(S$M)
Institiutional
 Inflow
(S$M)
WILMAR INTERNATIONAL F34 26,124 19% 32% 36% 20 241
YANGZIJIANG SHIPBUILDING BS6 4,389 46% -10% -7% 34 14
YANLORD LAND GROUP Z25 2,337 29% -1% 4% 3 -16
HUTCHISON PORT HOLDINGS TRUST NS8U 2,016 30% -31% -25% 2 -4
CAPITALAND RETAIL CHINA TRUST AU8U 1,947 17% 19% 28% 3 -3
TIANJIN ZHONG XIN PHARMA T14 1,752 22% -1% 2% 0 -7
CITIC ENVIROTECH CEE 1,326 58% 43% 46% 1 10
CHINA AVIATION OIL SINGAPORE G92 1,092 25% 20% 24% 1 -4
SASSEUR REIT CRPU 1,059 17% 36% 52% 1 -24
SIIC ENVIRONMENT HOLDINGS BHK 690 40% -4% 0% 0 -3

Source: Bloomberg & StockFacts (data as of 31 Dec 2019)



China Shores Up Growth, Eyes Phase One of Trade Deal

China’s central bank said on 1 January it was cutting the amount of cash that all banks must hold as reserves, releasing RMB800 billion in funds to shore up the economy, which is facing its slowest growth in nearly 30 years. The People’s Bank of China (PBOC) will reduce the reserve requirement ratio (RRR) by 50 basis points effective 6 January, which is its 8th cut since early 2018. Though economic activity has shown hints of a pick-up recently, analysts widely expect Beijing to roll out further stimulus measures in 2020 to avert a sharper slowdown.

The world’s second-largest economy posted 6% growth in the third quarter of last year, which was the lowest level in nearly three decades. The government has set a full-year 2019 economic growth target of between 6.0% and 6.5% and this year’s GDP growth is widely anticipated to range between 5% and 6%.

After an 18 month-long trade dispute, US President Donald Trump said he will sign the first phase of a trade deal with China on 15 January. The agreement, announced on 13 December, sees the US suspending plans for new tariffs on US$160 billion of Chinese imports, including smartphones and toys, and reducing some existing levies. China agreed to increase its purchases of American agricultural products, and has made new commitments on intellectual property protection, forced technology transfers by US companies and currency practices.







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