Stocks that outpaced every S-REIT over the first 11 months of 2019, include Global Invacom, Rex International, AEM Holdings, Frencken Group, Hi-P International, UMS Holdings and Sunpower. All 7 stocks have incorporated technology advancements into their business and generated total returns in excess of 60% over the first 11 months of 2019.
SGX lists at least 15 IT stocks with market cap above S$100 million. Among the 15, the 5 best performers in the YTD were: AEM (+126.6%), Hi-P (+81.3%), Procurri (+68.5%), UMS (+66.0%) and CSE Global (+46.3%). Singapore’s electronics manufacturing output edged up 0.4% YoY in Oct, EDB data showed. This positive reversal reinforces the view that the electronics cluster may have bottomed out in mid-2019, and is beginning to see “some green shoots”, OCBC Treasury Research noted.
For the month of Nov, 15 primary-listed SGX stocks repurchased more than 40 million shares with a total consideration of S$52 million. Nov buyback consideration was led by Keppel REIT, OCBC and Silverlake Axis. The latter also commenced a new buyback mandate last month, as did Sembcorp Industries and ST Group Food Industries Holdings.
Daily Closing Routines of the Singapore stock market will typically account for approximately 10% of daily turnover on a day-to-day basis. When Mapletree Commercial Trust joined the STI effective the Sept 20 close, with multiple additions to the FTSE EPRA/NAREIT Global Developed Index also effective, the Sept 20 Closing Routine drew 8 times the turnover it had seen in the preceding sessions of Sept. Similarly, turnover in the Nov 26 Closing Routine surged more than tenfold what the Closing Routine had averaged in the preceding 17 sessions of Nov.
On Tuesday, the iEdge S-REIT index booked its strongest gain since Sept 4. Ascendas REIT lodged its strongest price performance since Jan 4, and Keppel REIT saw its strongest price performance since Dec 18, 2018. REITs also accounted for more than one-third of the record turnover yesterday - which saw Singapore’s strongest day of stock market turnover since May 31, 2018. Mapletree Commercial Trust was the most traded stock for the day due to Index rebalancing activity in the closing auction.
The 10 best-performing real estate developer stocks (excluding REITs) with market cap of S$200 million and above on SGX have averaged a total return of 21.7% in the YTD, bringing their 3Y and 5Y total returns to 23.3% and 16.7% respectively. Among these 10, the 3 best performers in the YTD were: CityDev (+35.7%), UOL (+28.8%) and United Overseas Australia (+25.9%).
SGX lists 12 energy/oil & gas-related stocks with market cap above S$100 million. In Oct 2019, SGX’s Energy/Oil & Gas sector generated a total return of 7.6%. In the current quarter-to-date, the 3 best-performing energy/oil & gas-related stocks with market cap above S$100 million were: Rex International (+144.9%), PACC Offshore Services (+115.0%) and Mermaid Maritime (+56.1%).
Together, AEM, UMS, Frencken, Valuetronics and Hi-P averaged 7% gains last week, bringing their combined average 2019 YTD total return to 82% (median 74%). Globally, the largest 100 stocks by market value across the same industries have generated a 40% median YTD total return.
In the 2019 YTD, the iEdge S-REIT Index has generated a total return of 24.9%, compared with a total return of 18.9% for the FTSE EPRA NAREIT Asia ex-Japan REITs Index. In the YTD, the 3 best-performing constituents of the iEdge S-REIT Index were: Ascendas India Trust (+52.7%), Keppel DC REIT (+51.6%) and Ascendas Hospitality Trust (+50.0%). The trio averaged a total return of +51.4% over the period.
DBS, OCBC & UOB have averaged a 5% return in the QTD on net institutional inflow close to S$200 million, boosting their 2019 YTD total return to 12%. By comparison, APAC’s largest 100 capitalised banks generated a median 4% QTD return and 7% total return in the 2019 YTD.
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