The most defensive REITs and property trusts in the 2022-to-date included CDL Hospitality Trusts, Far East Hospitality Trust, Sabana Industrial REIT, CapitaLand Integrated Commercial Trust and Suntec REIT. Over the past 5 years, there have only been 6 weeks when the P/B ratio of the FTSE ST REIT Index ended the week below 0.90x
The STI’s 5 strongest stocks since 21 Oct included Wilmar International, Sembcorp Industries, Keppel DC REIT, UOB and Keppel Corp, with four of the five stocks providing financials or business updates over the period. UOB was among the most defensive STI stocks between 13 Sep and 21 Oct, in addition to Yangzijiang Shipbuilding, Genting Singapore, DBS, Emperador.
Singapore’s 30 most traded non-STI stocks have seen ~S$670 million in net institutional fund outflows in the 2022 year-to-date. The most defensive of this 30 stocks for October ahead of the final session for the month, included Sembcorp Marine, Golden Energy & Resources, CapitaLand India Trust, Geo Energy Resources, First Resources, RH Petrogas, Golden Agri-Resources and iFAST.
In Singapore, the 10 most traded stocks relevant to the Technology Sector have averaged 33% declines in total return this year with S$323mil net institution fund outflows. Both AEM (SGX:AWX) and UMS (SGX:558) have now trimmed their total returns since the end of 2019 to 68% and 37% respectively, with both companies reporting record revenue growth in 1H22. Silverlake Axis (SGX:5CP) has defied the downtrend in the technology-related plays in the 2022 year thus far, generating a 16% total return.
In 3Q22, 46 SGX primary-listed companies bought back shares with a total consideration of S$586 million, bringing the total buyback consideration for the first 9 months of 2022 to S$1.54 billion. Non-STI stocks with the highest 3Q22 buyback consideration included Yangzijiang Financial, The Hour Glass, OUE, First Resources and Hong Fok Corporation.
The STI’s 2.4% total return in 3Q22 was mainly driven by the trio of DBS, OCBC and UOB, which averaged a 7.3% total return over the quarter. The trio saw S$969 million of combined net fund inflows with the net fund inflows to DBS and OCBC more than offsetting the net fund outflows booked by UOB. The Sectors that saw the next highest net fund inflows in 3Q22 were Telecommunications and Consumer Cyclicals. This was mostly driven by SingTel, and Consumer Cyclical sector driven by Genting Singapore, Jardine C&C and The Hour Glass.
The STI’s 5 largest weights – DBS, OCBC, UOB, SingTel and Jardine Matheson make up 56% of the STI weights, and have averaged 9% quarter-to-date total returns, bringing their average year-to-date total return to 10%. For the quarter-to-date, the 5 stocks have seen combined net fund inflows S$1.25 billion.
Singapore’s 5 most traded consumer cyclical stocks year-to-date include Genting Singapore, Jardine Cycle & Carriage, NIO Inc, The Hour Glass and mm2 Asia. Singapore’s 5 most traded consumer non-cyclical stocks include Wilmar International, Thai Beverage, Golden Agri-Resources, First Resources and Sheng Siong.
The 10 Singapore-listed stocks, that have averaged more than S$1mil in daily turnover in the 2022 year-to-date, and saw the most percentage increases in daily trading turnover as compared to the full 2021 year, include as many as 3 Energy plays – Golden Energy & Resources, Geo Energy Resources and RH Petrogas.
The iEdge SG Advanced Manufacturing Index have has declined 4% in the 3Q22 to 7 Sep, while booking S$10 million of net institutional inflows. NIO (SGX:NIO), Venture Corporation (SGX:V03), Wilmar International (SGX:F34), ST Engineering (SGX:S63) and Thai Beverage (SGX:Y92) comprise approximately half the weights of iEdge SG Advanced Manufacturing Index.
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