Singapore REITs was the top net buy sector in August, garnering total institutional flows of S$124.6 million. In 8M2019, the sector drew net institutional inflows of S$311.7 million. The top institutional net buy REITs in August were: Mapletree Commercial Trust, CapitaLand Commercial Trust, Ascendas REIT and CapitaLand Mall Trust.
The STI generated a 4.8% total return in the first eight months of 2019, while Singapore’s 30 most actively-traded stocks by turnover for the 8 months, more than doubled the benchmark gain, with average total returns of 11.5%. The 30 most actively traded stocks included 6 non-STI stocks – Mapletree Logistics Trust, Suntec REIT, Mapletree Commercial Trust, Mapletree North Asia Commercial Trust, AEM Holdings and Mapletree Industrial Trust.
DBS, OCBC, UOB, Wilmar, CapitaLand, CityDev, Olam and Venture – made it to Forbes Asia’s inaugural Best Over A Billion series, announced last week. AEM – was unveiled in Forbes’ long-established Best Under A Billion 2019 list in July.
For the month of August, 23 stocks primary-listed on SGX repurchased more than 70 million shares with a total consideration of S$70 million. This was up from S$42 million in July 2019 and down from S$245 million in August 2018. Buyback consideration was led by Yangzijiang Shipbuilding, DBS, ST Engineering, Stamford Land and Keppel REIT.
Singapore lists over 100 stocks and trusts with market cap above S$1 billion, of which 32 have 12M dividend indicated yields of 4.5% and above. The 5 highest-yielding REITs and business trusts are: Hutchison Port Holdings Trust (9.6%), CapitaLand Retail China Trust (6.7%), Frasers Logistics Trust (6.5%), OUE Commercial REIT (6.4%) and Frasers Hospitality Trust (6.4%). The 5 highest-yielding companies are: StarHub (9.5%), Yanlord Land (6.3%), Hong Leong Finance (5.8%), Yangzijiang Shipbuilding (5.7%) and Singtel (5.6%).
In July 2019, top institutional net buy stocks were NetLink NBN Trust and AEM Holdings, with total inflows of S$32.5 million and S$12.7 million respectively. The 5 largest IT stocks with the highest dividend indicated yields are: CSE (6.5%), Sunningdale (6.2%), Venture (6.1%), GP Industries (6.1%) and UMS (5.8%).
SGX lists more than 200 stocks in the Industrials Sector. The 10 largest capitalised Industrials stocks have a combined market cap of more than S$160 billion, and are constituents of the benchmark STI. Among these 10, the five with the highest ROEs are: ST Engineering (22.2%), Venture Corp (16.4%), SATS Ltd (15.1%), Yangzijiang Shipbuilding (13.2%) and ComfortDelGro Corp (11.6%).
SGX’s five largest capitalised Utility plays – Keppel Infrastructure Trust, CITIC Envirotech, China Everbright Water, China Jinjiang Environment and SIIC Environment Holdings – have a combined market capitalisation of more than S$5 billion. In 7M2019, the three largest, best-performing Utility stocks were: China Jinjiang Environment (+30.4%), China Everbright Water (+16.6%) and Keppel Infrastructure Trust (+12.6%).
In the 2019 YTD, SGX’s iEdge S-REIT Index has clocked total returns of 19.7%, compared with total returns of 16.3% and 22.8% for the FTSE EPRA NAREIT Asia ex-Japan REITs Index and the MSCI ACWI REITs Index respectively, in USD terms. In the YTD, the five best-performing constituents of the iEdge S-REIT Index were: RHT Health Trust (+98.2%), Ascendas Hospitality Trust (+38.6%), Ascendas India Trust (+35.3%), Lippo Malls Indonesia Retail Trust (+34.9%) and Mapletree Commercial Trust (+30.1%).
In July, Consumer Staples was the top net buy sector on SGX, drawing total institutional inflows of S$26.9 million. Among the top institutional net buy stocks that month, Wilmar ranked second with inflows of S$27.9 million. The three largest and best-performing Consumer Staples stocks in 7M2019 were: ThaiBev (+40.0%), Wilmar (+30.4%) and Golden Agri (+22.8%).
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