SGX

SGX: Launched 11 stock indices tracking five themes, healthcare, real estate, minerals, O&G, and O&M. These cover $200b of stocks listed on SGX.

Two of the indices tracking real estate companies and REITs are tradeable. As such, ETF providers could create related ETFs.
To that end, SGX has been targeting the growing ETF market in Asia, and expresses that its indices will provide theme-benchmarks to encourage the creation of ETFs related to Singapore-listed stocks.

Separately, Deloitte suggests Singapore’s IPO market could benefit from China’s One Belt One Road initiative.

Chinese SOEs have been encouraged to expand their scope to SE Asian countries, such as Indonesia to ease overcapacity in China. Deloitte expresses that Singapore is a natural choice for these companies to raise funds, due to its relative establishment as a financial market.

SGX is currently trading at 22.2x FY6/16 consensus P/E
The street currently has 9 Buys, 7 Holds and 3 Sells on SGX with a mean TP of $8.17