SGX Market Updates

Mixed Returns For Singapore's Most Traded Non-STI Stocks In October 2022


31 October 2022

  • Singapore’s 30 most traded stocks outside of the STI have seen ~S$670 million in net institutional fund outflows in the 2022 year-to-date, with declines in October, bringing their average 2022 year-to-date decline in total return of the stocks to 5%. The most represented sectors among the 30 stocks are REITs, technology, consumer non-cyclicals and the energy sectors.

  • The 5 of the 30 stocks that saw the highest net institutional fund inflows proportionate to market value in in the 2022 year to 28-Oct included Riverstone, Sembcorp Marine, Sheng Siong, Golden Energy & Resources, and CapitaLand Ascott Trust. Total returns of the 5 stocks over the 43 weeks varied from -10% for Riverstone to +202% for Golden Energy & Resources.

  • The most defensive of 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, with the 8 gainers averaging 8% total returns for the month, while technology and technology-adjacent stocks led the declines.

Ahead of the final trading session of the month, Singapore’s 30 most traded stocks by turnover this year that are outside of the STI, averaged 6% declines in October. Total returns for the month varied from a 19% gain for Sembcorp Marine to a 41% decline for NIO. This brought the average 2022 to 28-Oct decline in total return for the 28 of the 30 stocks that have been listed for the entire period to a 5% decline (with the median decline at 11%). This compared to 1% total return for the STI and 16% decline for the FTSE Developed Index.

Among these 30 stocks, tabled below, 8 stocks outpaced the STI in the 2022 year through to 28 Oct, led by Golden Energy & Resources (SGX:AUE) and Sembcorp Marine (SGX:S51). In total, 19 stocks performed better than the FTSE Developed Index, with 2 of the 30 stocks listing within the period – Yangzijiang Financial (SGX:YF8) and NIO (SGX:NIO).

Like the global stock market, where the technology sector has been the weakest sector in the year thus far, 5 of the 30 stocks that represent the technology sector in the table below were among the 6 least performing stocks over the past 43 weeks – AEM (SGX:AWX), UMS (SGX:558), Frencken (SGX:E28), NanoFilm Technologies (SGX:MZH), iFAST (SGX:AIY).

Similarly, as energy stocks have led the global stock market this year, the 4 energy stocks tabled below have averaged 57% total returns over the past 43 weeks (with the median gain at 26%) – Golden Energy & Resources (SGX:AUE), Geo Energy Resources (SGX:RE4), RH PetroGas (SGX:T13), Rex International (SGX:5WH).

SGX Listed Stock
(In order of Non-STI constituents
& most traded by
2022 YTD turnover)
YTD Total
MTD Total
Bid/Ask Spread
Suntec REIT T82U 3,739 -7.5 -10 -15 73.7 18 REITs
Yangzijiang Financial YF8 1,201 -224.2 N/A -13 147.3 51 Financial Services
Sembcorp Marine S51 3,955 152.7 54 19 82.9 49 Industrials
ComfortDelGro C52 2,729 -76.9 -6 -5 79.4 19 Industrials
Keppel REIT K71U 3,433 -25.4 -14 -7 55.2 22 REITs
AEM AWX 960 -27.7 -39 -22 33.8 32 Technology (Hardware/ Software)
Frasers Centrepoint Trust J69U 3,540 -31.5 -8 -4 48.9 20 REITs
CapitaLand Ascott Trust HMN 3,235 11.8 -4 -4 54.8 22 REITs
UMS 558 592 -24.4 -40 -30 56.4 36 Technology (Hardware/ Software)
NetLink NBN Trust CJLU 3,332 -103.8 -12 -6 60.3 15 Telecommunications
Golden Agri-Resources E5H 3,487 12.0 16 4 182.8 37 Consumer Non-Cyclicals
Geo Energy Resources RE4 555 -10.5 42 8 128.3 54 Energy/ Oil & Gas
Lendlease REIT JYEU 1,583 -4.7 -15 -9 72.5 27 REITs
First Resources EB5 2,323 1.6 2 6 68.6 41 Consumer Non-Cyclicals
Rex International 5WH 293 -14.3 -25 0 217.9 57 Energy/ Oil & Gas
Golden Energy & Resources AUE 2,308 16.3 202 10 59.8 80 Energy/ Oil & Gas
Frencken E28 342 -56.5 -58 -18 62.9 45 Technology (Hardware/ Software)
NIO Inc. NIO 20,286 -20.9 N/A -41 63.3 76 Consumer Cyclicals
CapitaLand China Trust AU8U 1,640 -71.1 -13 -6 51.9 20 REITs
Digital Core REIT DCRU 877 -12.9 -49 -23 91.8 40 REITs
Nanofilm Technologies MZH 1,151 -76.1 -54 -17 67.6 38 Technology (Hardware/ Software)
ESR-LOGOS REIT J91U 2,244 -24.3 -27 -6 150.1 27 REITs
Sheng Siong OV8 2,346 66.8 11 -1 62.3 14 Consumer Non-Cyclicals
RH Petrogas T13 150 -5.3 10 4 56.7 84 Energy/ Oil & Gas
CapitaLand India Trust CY6U 1,322 -38.9 -14 9 90.4 26 REITs
iFAST AIY 1,178 -66.8 -52 2 41.4 39 Technology (Hardware/ Software)
Olam Group VC2 4,992 -32.8 -22 -1 85.3 28 Consumer Non-Cyclicals
Keppel Infrastructure Trust A7RU 2,671 -6.0 5 -1 96.0 16 Utilities
Riverstone AP4 771 31.7 -10 -10 98.2 50 Healthcare
Raffles Medical BSL 2,354 -1.7 -5 -5 79.8 25 Healthcare
Total 79,591 -671
Average -5 -6 37

Source: SGX, Bloomberg, Refinitiv (Data as of 28 Oct 2022)

This article is provided by SGX My Gateway.

SGX My Gateway

SGX's investor education portal with market, product and investment information and events. Sign up now at to receive our investment updates and economic calendar.

This document is not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject Singapore Exchange Limited (“SGX”) to any registration or licensing requirement. This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document is for general circulation only. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. Use of and/or reliance on this document is entirely at the reader’s own risk. Further information on this investment product may be obtained from Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Examples provided are for illustrative purposes only. While each of SGX and its affiliates (collectively, the SGX Group Companies) have taken reasonable care to ensure the accuracy and completeness of the information provided, each of the SGX Group Companies disclaims any and all guarantees, representations and warranties, expressed or implied, in relation to this document and shall not be responsible or liable (whether under contract, tort (including negligence) or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind, including without limitation loss of profit, loss of reputation and loss of opportunity) suffered or incurred by any person due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information, or arising from and/or in connection with this document. The information in this document may have been obtained via third party sources and which have not been independently verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the content of information provided by third parties. The SGX Group Companies may deal in investment products in the usual course of their business, and may be on the opposite side of any trades. SGX is an exempt financial adviser under the Financial Advisers Act (Cap. 110) of Singapore. The information in this document is subject to change without notice. This document shall not be reproduced, republished, uploaded, linked, posted, transmitted, adapted, copied, translated, modified, edited or otherwise displayed or distributed in any manner without SGX’s prior written consent.

SGX Stock / REIT Search


Trust Bank Referral Code