For 1Q22, the STI was APACs strongest performing benchmark, with 9.1% price gains boosted to 9.6% by dividends. With 23 of 30 constituents generating positive total returns in 1Q22, the STI outpaced the FTSE APAC Index and FTSE World Index, which generated 4.9% and 4.3% respective declines in total return.
STI stocks saw S$1.15 billion of net institutional inflows in 1Q22, with SingTel, OCBC, UOB, Wilmar and City Developments drawing the most net inflows, while averaging 14% total returns. Mapletree Commercial Trust, Venture Corp, Ascendas REIT, Mapletree Industrial Trust and ComfortDelGro saw the most net institutional outflows in 1Q22, while averaging a 0.1% marginal decline.
The STI was led by Sembcorp Industries and Keppel Corp in 1Q22, with respective 34% and 25% gains. In 1Q22, Sembcorp Industries reported net profit (before exceptional items) was up 57% y-o-y in FY21. Keppel Corp reported net profit of S$1.02 billion in FY21, reversing the S$506 million loss in FY20. Both stocks are pursuing significant strategic initiatives.
With interest rate hikes currently built into market expectations on increased inflation, key market drivers in 2Q22 also include the ongoing geopolitical implications of the Ukraine crisis, momentum in daily global cases of COVID-19, as well the outlook for overall growth deceleration, supply chain adjustments, and 1Q earnings.
For 1Q22, the STI was APAC’s strongest performing benchmark, with 9.1% price gains boosted by dividends to generate a 9.6% total return. The FTSE ASEAN All-Share Index also generated a 4.7% price return over the quarter, outpacing the broader APAC region.
The STI was led by Sembcorp Industries and Keppel Corporation in 1Q22, with respective gains of 34% and 25%. In 1Q22, Sembcorp Industries reported its net profit (before exceptional items) was up 57% y-o-y in FY21, while Keppel Corporation reported a net profit of S$1.02 billion in FY21, a sharp reversal from the S$506 million loss reported for FY20. Both stocks are also pursuing significant strategic initiatives.
Sembcorp Industries is pressing ahead with strategic transformation of its portfolio from brown to green energy, with an objective for sustainable solutions to make up 70% of its net profit by 2025.
Keppel Corporation is also executing Vision 2030, which is a long-term strategic initiative to transform the conglomerate to an integrated solution provider for sustainable urbanisation.
The performances of the 30 STI stocks are tabled below and sort by the strongest total returns booked in 1Q22.
|STI Stocks Sort By 1Q22 Performance||SGX
|Jardine Cycle & Carriage||C07||8||9,893||54||22||9||Consumer Cyclicals|
|CapitaLand Investment||9CI||34||20,544||78||17||*16||Financial Services|
|City Developments||C09||15||7,137||120||16||-13||Real Estate (excl. REITs)|
|Wilmar International||F34||35||29,675||143||14||-7||Consumer Non-Cyclicals|
|Thai Beverage||Y92||17||17,961||14||11||-8||Consumer Non-Cyclicals|
|CapitaLand Integrated Commercial Trust||C38U||52||14,900||109||10||0||REITs|
|Genting Singapore||G13||17||9,839||22||5||-8||Consumer Cyclicals|
|Jardine Mathenson||J36||18||53,836||-5||3||3||Consumer Non-Cyclicals|
|Dairy Farm International||D01||4||5,170||-21||2||-28||Consumer Non-Cyclicals|
|Mapletree Industrial Trust||ME8U||20||7,200||-59||1||-1||REITs|
|UOL Group||U14||10||5,945||-36||-1||-6||Real Estate (excl. REITs)|
|Hongkong Land||H78||16||15,494||13||-2||35||Real Estate (excl. REITs)|
|Mapletree Logistics Trust||M44U||29||8,848||-30||-2||-1||REITs|
|Frasers Logistics & Commercial Trust||BUOU||13||5,389||-14||-4||14||REITs|
|Venture Corporation||V03||21||5,105||-106||-4||-2||Technology (Hardware/ Software)|
|Mapletree Commercial Trust||N2IU||44||6,281||-133||-6||-2||REITs|
|Keppel DC REIT||AJBU||14||3,916||-51||-6||-8||REITs|