As many as 20 of Singapore’s most actively traded 50 stocks were recipient to net institutional inflows for sessions spanning 9 to 10 March that saw the STI decline 4.3%, bringing its 2020 YTD decline to 11.9%.
By comparison, the 20 stocks recipient to net institutional inflows for sessions spanning 9 to 10 March, have declined 3.8% in the 2020 YTD, with 16 of the 20 stocks outperforming the STI over the past three years.
The majority of the 20 stocks were REITs & Tech Manufacturers, also amongst the strongest segments of the past 3 years. Four of the stocks were among the STI’s 10 least performers in 2019, and one provided one of the STI’s strongest reports in the recent quarterly earnings.
Singapore’s 50 most actively traded stocks have averaged a 7.1% decline in total return in the 2020 year through to 10 March. Of the 50 stocks, as many as 20 of the stocks were recipient to net institutional inflow (excluding market making and liquidity provider flows) between 9 and 10 March, whilst the Straits Times Index (STI) declined 4.3%. A few observations could be made across the 20 stocks, including familiar themes of possible averaging down, rebalancing and post-earnings revisions:
As many as 14 of the 20 stocks (mostly comprised of REITs and technology manufacturers) were amongst the 20 strongest performing stocks of the 50 stocks over the past three years. This excludes Cromwell European REIT which was also recipient to net institutional inflow, however listed in the interim on 29 Nov 2017.
Four of the 20 stocks, Genting Singapore, Singapore Press Holdings, Jardine Strategic Holdings and were amongst the STI’s least performing 10 stocks in 2019.
The remaining stock, Wilmar International reported a 120% surge in its 4QFY19 earnings to US$438 million, and also proposed record-high dividend for FY19.
The 20 stocks are tabled below and sort according to the highest net institutional inflow between 9 and 10 March proportionate to market capitalisation (i.e. Net Institutional flow/Market Capitalisation).
| Stock | SGX Code |
Mkt Cap S$M |
2020 YTD Total Return % |
3-Year Total Return % |
Net Institutional Inflow (Excl. MM/LP) on 9-10 March S$M |
|---|---|---|---|---|---|
| SINGAPORE EXCHANGE | S68 | 9,837 | 4.6 | 38.3 | 38.7 |
| AEM HOLDINGS | AWX | 532 | -3.0 | 589.2 | 1.2 |
| MAPLETREE COMMERCIAL TRUST | N2IU | 7,475 | -4.7 | 79.4 | 13.3 |
| UMS HOLDINGS | 558 | 451 | -18.4 | 65.4 | 0.6 |
| MAPLETREE INDUSTRIAL TRUST | ME8U | 6,559 | 16.0 | 112.3 | 8.4 |
| ASCENDAS REAL ESTATE INV TRT | A17U | 12,085 | 13.7 | 62.0 | 14.1 |
| SINGAPORE PRESS HOLDINGS | T39 | 2,981 | -14.2 | -37.6 | 3.2 |
| MANULIFE US REAL ESTATE INV | BTOU | 2,177 | 4.4 | 56.0 | 2.0 |
| VENTURE CORP | V03 | 4,718 | 0.9 | 68.4 | 3.1 |
| CAPITALAND COMMERCIAL TRUST | C61U | 7,608 | 0.8 | 52.2 | 4.8 |
| MAPLETREE NORTH ASIA COMMERC | RW0U | 3,599 | -1.2 | 42.9 | 2.0 |
| GENTING SINGAPORE | G13 | 8,928 | -19.6 | -18.7 | 3.8 |
| SINGAPORE TECH ENGINEERING | S63 | 12,803 | 4.3 | 26.9 | 5.2 |
| FRASERS LOGISTICS & INDUSTRI | BUOU | 2,782 | -0.8 | 59.1 | 1.1 |
| CROMWELL EUROPEAN REIT | CNNU | 2,009 | 0.2 | 9.5 | 0.7 |
| YANGZIJIANG SHIPBUILDING | BS6 | 3,409 | -22.3 | -13.1 | 1.1 |
| ASCOTT RESIDENCE TRUST | HMN | 3,453 | -13.1 | 23.4 | 1.0 |
| CAPITALAND MALL TRUST | C38U | 8,746 | -2.5 | 43.0 | 1.3 |
| WILMAR INTERNATIONAL | F34 | 24,362 | -6.8 | 16.3 | 3.6 |
| JARDINE STRATEGIC HLDGS | J37 | 39,439 | -13.7 | -33.7 | 2.3 |
| Average | -3.8 | 62.1 | |||
| Median | -1.8 | 43.0 |
Source: SGX, StockFacts, Bloomberg , Thomson Reuters (Data as of 10 March 2020)
