DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May. The trio also averaged 16% total returns for the period, bringing their average total returns since the end of 2019, to 67% and combined weight in the STI to 51%. OCBC also posted its highest ever close price on 23 May.
Top Glove, Medtecs International, UG HealthCare and Riverstone have averaged 24% returns in the month-to-date, partially attributed to the Biden administration announcing higher tariff rates for certain imports from China including PPE items such as respirators and face masks, in addition to rubber medical and surgical gloves.
Five constituents of iEdge SG Advanced Manufacturing Index that have ranked among the most traded within the Index over the 20 weeks, while also seeing more than 50% increases in their average daily turnover compared to the full 2023 year, included Dyna-Mac, Riverstone, Food Empire, Aztech Global and Beng Kuang Marine.
Among the 50 most traded stocks of the iEdge SG Advanced Manufacturing Index this year, Global Invacom, Broadway Industrial, Willis-Array, Riverstone, Beng Kuang Marine and Mermaid Maritime chalk up the biggest surges in trading activity, compared to respective levels for the full 2023 year.
The quarterly review of the Straits Times Index (STI) in March leads to the inclusion of Frasers Centrepoint Trust (FCT) in the index, effective as of March 18, 2024. The number of retail malls in the portfolio of Frasers Centrepoint Trust has tripled since it listed in July 2006 with an initial unit price of S$1.03. It's unit price ended 12 March at S$2.19, and according to Bloomberg it has paid more than S$1.80 per unit in distributions since IPO, bringing its annualised total return since listing to 10.3%.
The STI Banks DBS, OCBC & UOB have proposed to pay final dividends (subject to shareholder approval) that take the 2023 total combined dividend amounts for the trio to S$11.5 billion. Based on end of FY23 share prices, this generated a 6.0% average dividend yield.
Singapore's Industrial Sector is considered a mega-sector as it comprises more than 130 stocks in businesses that can include manufacturing, machinery, construction or transportation goods or services, etc. 10 of the 12 Industrials stocks of with the highest Return-on-Equity (ROE) ratios and a minimum of S$50k in average daily turnover over the past 4 weeks booked net institutional inflow over the period. Yangzijiang Shipbuilding, Jubilee Industries and Samudera Shipping have been the strongest performers among them.
While Singapore's exports have lagged behind Taiwan and Korea in Nov-Dec 2023, they have showed signs of recovery after a year of steep drops. Some of the most traded iEdge SG Advanced Manufacturing Index stocks, such as Yangzijiang Shipbuilding, Dyna-Mac and Food Empire, have high P/B ratios compared to their historical averages, indicating strong market valuation.
Among Singapore’s 10 most traded Transportation stocks in 2024-to-date, the 3 strongest performing stocks over the past fortnight included COSCO Shipping Singapore, Chasen and Samudera Shipping, averaging 16.6% gains, with all three notching up higher trading turnover levels compared to 2023 levels. Meanwhile Singapore Post, MarcoPolo Marine and Singapore Airlines were more in-line with broader benchmarks.
In 2023, the STI generated a 4.7% total return, in-line with the FTSE ASEAN Extended 60 Index’s 3.7% total return in SGD terms. Keppel and Sembcorp Industries led the STI in 2023, with both stocks generating just over 60% total returns for the year. Both stocks have continued to pursue renewable energy solutions.
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