Singapore Exchange (SGX)

Markit and Morgan Stanley's data shows bulling on Singapore stocks, a contrast on the existing bearing views...

(vested)

Singapore bears retreat with ETF flows climbing

Money managers are turning bullish on Singapore after shunning it for more than a year as political stability and cheap equity valuations push the city-state to the top of a Morgan Stanley market ranking.

Three-month flows into Singapore exchange-traded funds are on course to reach the most since Markit. began tracking the data in 2009. Investors took money out of the stock and bond funds for five straight quarters through June, the Markit data show. The benchmark Straits Times Index has rebounded 13% from this year’s low on Feb. 5 and Singapore’s sovereign debt returned 3% this year.

Singapore shares are the most attractive among Asia ex-Japan and emerging-market equities, beating Hungary, Chile and China, according to a Morgan Stanley study using measures from earnings to corporate governance and technical indicators. The investment bank predicts companies in the Southeast Asian city-state will beat consensus earnings forecasts after the economy expanded at a quicker-than-expected pace in the second quarter.

“The Singapore market is somewhat undervalued for a pretty strong growth environment with positive earnings revisions,” said Jonathan Garner, Hong Kong-based head of Asia and emerging- market strategy at Morgan Stanley. “We also like the fact that the market scores very highly in terms of our political risk and corporate governance model.”

While the Straits Times Index is trading close to its five-year average forward earnings multiple, the valuation of the Standard & Poor’s 500 Index is more than 17% higher, data compiled by Bloomberg show. Daphne Roth at ABN Amro Private Banking is among investors remaining bearish, seeing limited gains as constrained credit growth damps consumer spending.

The yield on Singapore government bonds due in a decade closed at 2.35% Sept. 5, down from as high as 2.59% in January, according to prices from the Monetary Authority of Singapore.
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http://www.theedgesingapore.com/the-dail...mbing.html

SGX and TWSE study stocks trading link

Singapore Exchange (SGX) and Taiwan Stock Exchange (TWSE) will enter a Letter of Intent to
study and work towards linking the two stock markets.
“We are delighted to cooperate with TWSE on the study of a cost-efficient direct link between
Taiwan and Singapore markets. International investors keen on Greater China opportunities are
coming to Singapore and Taiwan because we are leading offshore Renminbi centres. There is
therefore potential for cooperation in infrastructure and other areas so as to better serve these
investors,” said Magnus Bocker, CEO of SGX.
“TWSE and SGX have built a broad consensus around expanding international cooperation. The
signing of the Letter of Intent is a practical mechanism for facilitating cross-border trade and will
enable TWSE and SGX to provide more diversified services to their respective market investors,”
said Sush-der Lee, Chairman of TWSE.
...
http://infopub.sgx.com/FileOpen/20140909...eID=314203

Another no value added self convincing research... the basic logic is only quality shares are high price and will attract fundies into them... as for speculative manipulated pennies, most of the time they are pump and dump... SGX's failure lies in the inability to attract quality listings, policing crooks unlike the 80s/90s and their constant focus to entice investors to trade for SGX's short term profitability focus... this is bad as Singapore lacks the hitherland like China to HKSE

http://www.businesstimes.com.sg/premium/...y-20140917

PUBLISHED SEPTEMBER 17, 2014
Higher-priced stocks are more liquid - SGX study
They also make up a bigger proportion of market's total traded value
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT

STOCKS on the Singapore Exchange trading at 25 Singapore cents and higher are more liquid as investors are drawn to invest in them given their lower implicit trading costs, according to a recent study by the Singapore Exchange - PHOTO: SPH
STOCKS on the Singapore Exchange trading at 25 Singapore cents and higher are more liquid as investors are drawn to invest in them given their lower implicit trading costs, according to a recent study by the Singapore Exchange.
Based on the study, just under half or 371 stocks of the total 736 listed on SGX in 2013 belonged to this price band based on their annual volume-weighted average price while 188 stocks were worth less than 10 Singapore cents.
The report, which examined the link between the quality or liquidity of Singapore-listed stocks and the stock price based on 2013 data, echoed the findings of studies done in other markets that the higher the stock price, the better the liquidity.
Even so, the report discovered that stocks trading at less than five Singapore cents - there were 80 such counters - also had similar liquidity as those worth 25 Singapore cents and above.

The public consultations on independent listings committees and minimum trading price has started. The relevant announcements are below.

http://infopub.sgx.com/FileOpen/20140917...eID=315057

http://infopub.sgx.com/FileOpen/20140917...eID=315060

New stock screening by SGX next week.

(18-09-2014, 09:24 AM)egghead Wrote: New stock screening by SGX next week.

Look good. The paid sites should do more to add-value to their customers.

The new yuan derivative will enhance the yuan product offerings in Singapore, and allow more yuan-denominated instruments.

The relevant SGX announcement is here
http://infopub.sgx.com/FileOpen/20140919...eID=315317

(vested)

Singapore’s offshore Renminbi hub ambition enhanced

SINGAPORE — The Republic’s position as a key offshore Renminbi (RMB) market has received a boost with the launch of a new foreign exchange (FX) futures contract on the yuan.

This is part of a suite of Asian currency futures that will also include the Japanese Yen and Thai Baht, which will start trading on the Singapore Exchange (SGX) on Oct 20. The Bank of China (BOC) will be the pioneer market-marker for SGX’s RMB futures.

“The enhanced SGX Asian FX suite widens the window for even more investors to tap on the growth opportunities across major Asian markets and manage their currency exposures at the same time,” said chief executive of SGX Magnus Bocker.

“The SGX RMB futures complements the range of RMB-denominated investment products in Singapore, and will further boost the growth and deployment of the RMB deposits pool in Singapore,” he added.
...
http://www.todayonline.com/business/sing...n-enhanced

http://www.businesstimes.com.sg/premium/...s-20140922

PUBLISHED SEPTEMBER 22, 2014
SGX starts StockFacts portal to win investors
BYKENNETH LIM
kenlim@sph.com.sg @KennethLimBT

SINGAPORE Exchange (SGX) has launched a new online stock information portal as it steps up its courtship of retail investors amid weak market liquidity.
The StockFacts product allows investors to screen for stocks based on 20 different criteria, including market capitalisation and revenue. The product will also incorporate information from S&P Capital IQ that had previously been difficult to access for retail investors, such as analysts' consensus estimates and recommendations.
"Before StockFacts was launched, investors who wanted to do research on SGX-listed companies had to use various different sources of varying credibility to access the information," said SGX head of retail investors Lynn Gaspar. "This was a gap that we identified through retail investor feedback."
StockFacts is the latest effort by the market operator to drive up retail participation. The SGX Academy - SGX's investor education and training unit - reached 89,000 participants in 2013 with various programmes and events. Earlier in the month, SGX and UniSIM organised a free investment day to educate the public about investments.

This is within my expectation, and the key reason for major brokerage houses from China and Taiwan, to operate here in 2014.

(vested)

Singapore Exchange sees end to two-year hiatus for China IPOs

Singapore Exchange is forecasting an end to a two-year hiatus for Chinese listings after regulators made it easier for companies from Asia’s biggest economy to sell shares in the city-state.

SGX expects some initial public offerings from Chinese companies in 2015, Lawrence Wong, head of listings at the exchange operator, said in an interview on Sept. 17. The last was Sincap Group in June 2012. SGX and the China Securities Regulatory Commission signed a deal in November that allows mainland companies to list on the Southeast Asian bourse without having to incorporate an overseas holding company.

“China has been on our radar for a long time,” Wong said. “The arrangement with CSRC allows Chinese companies incorporated in China to list in Singapore directly. This is very significant. In the past, it was very difficult for mainland companies to do so.”

After a flurry of Chinese companies known as the S-chips listed in Singapore in 2007, IPOs dried up as debt defaults and accounting scandals saw stocks from FerroChina to Sino Techfibre delisted or suspended. Mainland companies have favored IPOs in Hong Kong this year, while those seeking a Singapore listing, including developer Chiwayland International, pursued reverse takeovers of companies on the Southeast Asian bourse.

SGX has been holding seminars across China to explain the new rules to state-owned enterprises and private companies, and has received enquiries from manufacturers, property developers and mining companies interested in a Singapore IPO, Wong said.
...
http://www.theedgesingapore.com/the-dail...-ipos.html

Expect more rubbish to head here to convince our naive investors...

(22-09-2014, 02:33 PM)CityFarmer Wrote: This is within my expectation, and the key reason for major brokerage houses from China and Taiwan, to operate here in 2014.

(vested)

Singapore Exchange sees end to two-year hiatus for China IPOs

Singapore Exchange is forecasting an end to a two-year hiatus for Chinese listings after regulators made it easier for companies from Asia’s biggest economy to sell shares in the city-state.

SGX expects some initial public offerings from Chinese companies in 2015, Lawrence Wong, head of listings at the exchange operator, said in an interview on Sept. 17. The last was Sincap Group in June 2012. SGX and the China Securities Regulatory Commission signed a deal in November that allows mainland companies to list on the Southeast Asian bourse without having to incorporate an overseas holding company.

“China has been on our radar for a long time,” Wong said. “The arrangement with CSRC allows Chinese companies incorporated in China to list in Singapore directly. This is very significant. In the past, it was very difficult for mainland companies to do so.”

After a flurry of Chinese companies known as the S-chips listed in Singapore in 2007, IPOs dried up as debt defaults and accounting scandals saw stocks from FerroChina to Sino Techfibre delisted or suspended. Mainland companies have favored IPOs in Hong Kong this year, while those seeking a Singapore listing, including developer Chiwayland International, pursued reverse takeovers of companies on the Southeast Asian bourse.

SGX has been holding seminars across China to explain the new rules to state-owned enterprises and private companies, and has received enquiries from manufacturers, property developers and mining companies interested in a Singapore IPO, Wong said.
...
http://www.theedgesingapore.com/the-dail...-ipos.html