Over the past 4 weeks, the iEdge S-REIT Index declined 2.1% after a rally anticipating the 50 bps rate cut on Sep 18, with a total 3Q24 gain of 17.5%. In the S-REIT Sector, Acrophyte Hospitality Trust saw the highest 2H24 to Oct 15 net institutional inflow relative to market cap, driven by transactions associated with its significant rebrand.
The 20 most traded Singapore stocks that reported at least half their revenue from Greater China have averaged 22% total returns since 20 Sep, while CapitaLand China Trust, Nio, Sasseur REIT and Tianjin Pharmaceutical Da Ren Tang reported all their revenue or income from China in the last financial year.
Singapore listed stocks that booked the highest market capitalisation weighted net retail inflow in 3Q24 include Frencken, Beng Kuang Marine, AEM, UMS, MarcoPolo Marine, Yangzijiang Shipbuilding, Prime US REIT, Mermaid Maritime, Samudera Shipping, and Geo Energy Resources.
In 3Q24, retail investors net sold S$955 million worth of Singapore-listed stocks, with the bulk of the net outflow booked in September. The 5 stocks most net sold by retailers in 3Q24 included Singtel, SGX, SATS, UOB and Suntec REIT, while the 5 stocks most net bought by retailers in 3Q24 included Yangzijiang Shipbuilding, SIA, Keppel, Genting Singapore and UMS.
Global communication indices have outpaced broader global benchmarks this year, while SGX-listed Singtel, AIS TH SDR, NetLink NBN Trust, Starhub and Asian Pay TV Trust have averaged 20% total returns. Singtel has led these 5 counters this year, with a 37% total return.
STI climbed back above 3,400 on Aug 29 and closed at 3,531.17 on Sep 11. Actively traded stocks that booked the highest net institutional inflow proportionate to market cap over the 9 sessions include Seatrium, Sembcorp Industries, SGX, Suntec REIT & ComfortDelGro.
Singtel has posted a 29% total return with its average daily turnover surged 80% to S$90M, while Dyna-Mac's turnover accelerate by 132% in the 2024-to-date.
SATS booked S$28 mil net institutional inflow on 21 August, with the stock also trading 10x its usual average daily turnover. This followed SATS reporting a turnaround 1QFY25 PATMI of S$65.0 million compared to a loss of S$29.9 million in 1QFY24. Nam Cheong reported 1HFY24 NPAT of RM 635.8 million, up from RM 31.7 million in 1HFY23, primarily due to the waiver of debts. The global offshore marine group noted its business recovery is gathering pace with revenue growing 56% to RM 312.0 million for 1HFY24.
The S$506 million net institutional outflow from Singapore stock market last week was driven by Financials and Industrials. The more than 3% decline of the STI was on the back of global cross-asset repositioning that coincided with the Bank of Japan rate hike, in addition to concerns on US growth, and recent rotation from US technology stocks. Singapore’s Utilities Sector recorded S$7.1 million of net institutional inflow for the week.
Multi-Chem, SATS, SingTel, Civmec, Kim Heng, Accrelist, Great Eastern, Dyna-Mac, Venture Corp, Azeus System and Hock Lian Seng saw the most acceleration in net institutional inflow in July compared to 1H24 inflow. Pan-United, 5E Resources, Beng Kuang Marine, Azeus System, Multi-Chem and Dyna-Mac also saw average daily turnover (ADT) more than double over the 7 months compared to 2023.
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