Ada Tam Ying Ying

Sep 19, 20239 min read

19Sep2023 Reports

Updated: Sep 21, 2023

Phillip OCBC DBS UOB KGI CIMB Lim&Tan MayBank

Economic Calendar :

https://www.sgxacademy.com/eco-cal/?doing_wp_cron=1695121005.8658249378204345703125

SGX

Retail investors net bought S$187.7m of S-REITs in August 2023

Data as of 31 August 2023 (Source: Bloomberg) Note: Index total returns in SGD.

S-REITs ended August 2023 with -2.5% in total returns, bringing total returns to 1.3% vs the FTSE EPRA Nareit Developed Index of 2.5%. Institutional investors net sold (-S$94.3m) while retail investors net bought (+S$187.7m) of S-REITs in August 2023.

SGX REIT Watch - August 2023

Singapore-based office S-REITs see resiliency despite WeWork sparking industry concerns. WeWork was one of CICT's top 10 tenants for the month of June 2023 with 2.4 per cent of total gross rent contributing to CICT's total gross rental income. In spite of that, rent reversion for CICT's office portfolio grew 9.6 per cent YTD, outpacing that of its retail portfolio, which recorded a 6.9 per cent growth. Its office portfolio's occupancy rate rose quarter on quarter, marginally improving from 94.8 per cent to 95.4 per cent. Other REITs with heavy office-portfolios such as Keppel REIT and OUE Commercial REIT have also seen consumer sentiment hold up alongside high occupancy rates and growth in rental reversions. Read more. (SGX, BT)
iEdge S-REIT Index vies for portfolio positioning . The iEdge S-REIT Index, comprising 35 constituents, maintains a 6% yield. The 10 largest weights of the iEdge S-REIT Index make up close to 70% of the index weights. The trio of CapitaLand Integrated Commercial Trust, CapitaLand Ascendas REIT and Mapletree Logistics Trust together make up 31% of the index weights. Index productisation can provide a means for investors to efficiently aggregate S-REIT exposure and streamline specific S-REIT concentration risks to Index weightings. SGX now lists 5 REIT-focused ETFs for trading. The 5 ETFs saw trading turnover advance 21% in July versus June. Read more. (SGX, BT)
Healthcare S-REITs remain committed to expansion strategies. Healthcare S-REIT continued to be resilient with 5% total returns. ParkwayLife REIT reversed its 25.1% decline in 2022 with a 5% gain in the year to date as at end July. Similarly, First REIT booked 4.9% in gains this year. Together, the two healthcare S-REITs booked net institutional outflows of S$19 million but received net retail inflows of S$16 million in the first seven months of 2023. Read more. (SGX, BT)
Institutional investors net buyers of these 10 S-REITs in July . The iEdge S-REIT Index returned 1.8% in July, in line with the FTSE EPRA Nareit Developed Index. In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-REITs while institutional investors net sold S$86.4 million in the sector. However, there were 10 S-REITs and property trusts which recorded net institutional inflows in the month of July, with combined inflows of over $38.2 million. They were Keppel DC REIT, CapitaLand Integrated Commercial Trust, CapitaLand India Trust, ESR-LOGOS REIT, Far East Hospitality Trust, Digital Core

Key statistics and highlights on the sector can be found in SGX's monthly SREITs & Property Trusts Chartbook.

Market Insights

GHY’s Guo Jingyu raises stake as group eyes turnaround, profitability Institutions were net buyers of Singapore stocks over the five trading sessions through to September 14, with S$18.4 million of net institutional inflow, while 24 primary-listed companies conducted buybacks with a total consideration of S$25.9 million. The five trading sessions saw 60 changes to director interests and substantial shareholdings filed for close to 30 primary-listed stocks. This included 13 company director acquisitions with no disposals filed, while substantial shareholders filed nine acquisitions and two disposals. Click here to read more.

REIT Watch - S-REITs raise sustainability reporting standards The latest joint study by Ernest & Young and the REIT Association of Singapore (REITAS) showed that S-REITs have made “considerable progress in climate-related disclosures” since SGX RegCo introduced mandatory climate reporting back in 2021. Across the sub-segments, diversified S-REITs have, on average, the highest coverage and quality scores of 98% and 55% respectively. The Monetary Authority of Singapore (MAS) and SGX launched ESGenome last year, a disclosure portal to collect consistent and comparable ESG data. Early S-REIT adopters include Manulife US REIT and CapitaLand China Trust. Click here to read more.

5 in 5 with LHN Limited - Creating Sustainable Spaces LHN Limited (or LHN Group) is a real estate management services group with a longstanding history dating back to 1991, distinguished by its ability to generate value through its space optimisation expertise. LHN Limited's sustainability approach is governed by a comprehensive ESG framework, with actions developed by dedicated committees. They establish long-term partnerships with social and environmental agencies/enterprises, fortified by the support and collaboration of their business associates. Click here to read more.

MoneyFM 89.3 Market Wrap – How will Singapore’s largest equity ETF help our spur sustainable investing in Asia SGX Market Strategist, Geoff Howie joins MONEY FM 89.3 co-host Hongbin Jeong this afternoon on Market Wrap as they discuss how the STI fared in the past week; the biggest movers; how a newly-launched equity ETF - the largest in Singapore - between SGX and BlackRock, can spur sustainable investing in Asia; the growth opportunities Temasek Holdings is exploring in the Chinese market; and how Singapore shares reacted to recently-released US CPI data.

https://www.zawya.com/en/mena

Phillip Capital Market Reports:

Stock Research

Phillip Daily Morning Note

US Market (By Phillip Global Markets Night Desk)

Economy

Biggest Reports in Next 12 Hours

OCBC

DBS

China’s US Treasuries holdings fell to US$822bn in July, lowest since May-09
Disney in early talks with potential buyers including Reliance for its India business
US online grocery delivery company Instacart valued at US$9.9bn in IPO

Singapore Market View Update

Sideway volatility to continue beyond the FOMC meeting outcome

A hawkish pause: The FED is widely anticipated to leave rates unchanged at 5.25% in the outcome of FOMC meeting tomorrow night yet leaving the door open for future hike if necessary
The more than 30% rebound in oil price since June, the slight uptick in US headline inflation off 3% in July-Aug and the steady easing of the high base comparison effect going forward for CPI could keep inflation watchers on their toes
Expect the sideways volatility to extend for a few more weeks at least
What are the key technical levels to watch?
Click here to read our views

ComfortDelGro Corporation (CD SP)

Public Transport Council grants a 7% public transport fare hike

Public Transport Council (PTC) announced an overall public transport fare increase effective 23-Dec of 7% following its annual fare review exercise, higher vs the 3% hike we penciled in FY24
Adult card fares expected to increase by 10 cents for up to 4.2km and 11 cents for distance above that; highest increase recorded
ComfortDelgro’s 74.4% subsidiary, SBS Transit (SBST), is expected to see S$20.9m increase in annual revenue, with 15% going towards contribution to Public Transport Fund
Why we believe this development is a positive for the company?
Click here to read our views

DBS Group Research | Equity Picks

Singapore Equity Picks: Read more

Hong Kong Equity Picks: Read more

UOB

UOBKH: Country Dailies: Tuesday, September 19, 2023

Click on the link for Greater China Daily.

https://research.uobkayhian.com/content_download.jsp?id=75226&h=433aa82aa5ffd59b1fbd5068e380bb77 Click on the link for Indonesia Daily. https://research.uobkayhian.com/content_download.jsp?id=75228&h=11a5ca4fc66e6b795b9d4af1aae1fffe Click on the link for Malaysia Daily. https://research.uobkayhian.com/content_download.jsp?id=75243&h=4e2a3c5332c92654090b105e3723479f Click on the link for Singapore Daily. https://research.uobkayhian.com/content_download.jsp?id=75211&h=7a603ba112e2ad3b8d7d4b0150e6be03 Click on the link for Thailand Daily. https://research.uobkayhian.com/content_download.jsp?id=75241&h=9b4b5c105989d5f29ce42b4ca4b2525f

KGI

Technical Analysis: 19 September 2023

🇸🇬 SG

China Aviation Oil (CAO SP)

Singapore Telecommunications (ST SP)

🇭🇰 HK

CSPC Pharmaceutical Group Ltd (1093 HK)

Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd (874 HK)

19Sep2023 Reports

Indonesia

Malaysia

Philippines

Singapore

Thailand

NESDC outlines nation's transition Vietnam

China

India

Recent Posts

Comments