STI constituents that booked the highest net institutional inflow proportionate to quarter-end market cap included Sembcorp Industries, Genting Singapore and Keppel DC REIT, while Keppel Corp, Yangzijiang Shipbuilding and City Developments booked the highest net institutional outflow proportionate to quarter-end market cap. The STI booked a 0.8% total return for 1Q23, with the FTSE ASEAN All-Share Index gaining 0.3%.
In 1Q23 Singapore's 100 most traded stocks averaged 3% total returns, following on from the same 100 stocks averaging 10% average total returns in 2022. Of these 100 stocks, Food Empire, Samudera Shipping, Acesian Partners Delfi and Best World International generated the highest returns in 1Q23, while The Place Holdings, Medtecs International, Japfa, Rex International and Manulife US REIT led the declines for the quarter.
Stocks that moved to within the 100 most traded stocks in 1Q23 (from outside the 100 traded stocks in 2022) included Halcyon Agri, Thomson Medical, China Aviation Oil, Tianjin Pharmaceutical Da Ren Tang, Sabana Industrial REIT, Food Empire, Delfi, Pollux Properties, Cosco Shipping International, and Medtecs International.
In 1Q23 Singapore's 100 most traded stocks averaged 3% total returns, following on from the same 100 stocks averaging 10% average total returns in 2022. This was generally in-line with the STI's 0.8% total return, the FTSE ASEAN All-Share Index 0.3% total return and the FTSE Asia Pacific total return of 3.8% in 1Q23.
Within the STI, Yangzijiang Shipbuilding and City Developments were the least performing STI stocks in 1Q23, while Keppel Corporation was among the four strongest performers of the STI in 1Q23, along with Sembcorp Industries, Genting Singapore and Keppel DC REIT.
Within the STI, the net institutional inflow and outflow of each constituent proportionate to the constituent's market capitalisation, saw Sembcorp Industries, Genting Singapore and Keppel DC REIT book the highest proportionate net institutional inflow in 1Q23. Meanwhile Keppel Corporation, Yangzijiang Shipbuilding and City Developments booked the highest proportionate net institutional outflow.
The net institutional outflow booked by Keppel Corporation (and net inflow booked by Sembcorp Marine) in 1Q23 coincided with the completed the combination of Keppel Offshore & Marine with Sembcorp Marine.
1Q23 also saw developments across the 5 key market drivers of global interest rates, decelerating growth, persistent inflation, geopolitical tensions as well as global financial stability being nudged in March. While these drivers began the year as overarching, their universal impact on sectors and stock has been dissipating this quarter, with the OECD noting two weeks ago that emerging-market economies in Asia are likely to be less affected by the global slowdown, helped by the rebound in China and more moderate inflation pressures.
The 100 most-traded Singapore listed stocks in 1Q23 saw a combined S$1.1 billion in average daily trading turnover over the quarter, while contributing the bulk of the S$1.61 billion in net institutional outflow.
Consumer Cyclical, Utilities, Consumer Non-Cyclicals, Technology, Healthcare and Energy Sectors book net institutional inflow in 1Q23, while Financial Services, Telecommunications, REITs, Industrials, Real Estate (excl. REITs) and Materials & Resources booked net institutional outflow.
Stocks that led the net institutional inflow to the Consumer Cyclical Sector in 1Q23 included Genting Singapore, Best World International, Halcyon Agri, Parkson Retail Asia and NIO, in addition to The Hour Glass and Zhongmin Baihui Retail, with the latter two stocks ranking outside the 100 most traded stocks by turnover in 1Q23.
Among the 100 most traded stocks in 1Q23, the 10 that booked the highest net institutional inflow proportionate to quarter-end market capitalisation averaged 19% total returns in 1Q23, compared to a 13% decline for the 10 stocks that booked the highest net institutional outflow proportionate to quarter-end market capitalisation. These stocks are tabled below.
| 10 stocks that booked the highest net institutional inflow in proportionate to quarter-end market cap among the top 100 most traded SGX stocks in 1Q23 | SGX Code |
Market Cap S$M |
1Q23 Net Institutional Inflow S$M |
1Q23 Net Institutional Flow / Market Cap |
1Q23 Total Return % |
2022 Total Return % |
Sector |
|---|---|---|---|---|---|---|---|
| Boustead Project * | AVM | 299 | 10.5 | 3.5% | 16 | -17 | Industrials |
| Acesian Partners | 5FW | 30 | 0.9 | 3.2% | 48 | 162 | Industrials |
| Parkson Retail Asia ^ | O9E | 55 | 1.3 | 2.4% | 0 | 645 | Consumer Cyclicals |
| Best World | CGN | 1,070 | 25.3 | 2.4% | 38 | 37 | Consumer Cyclicals |
| ISDN | I07 | 225 | 5.0 | 2.2% | 17 | -38 | Technology |
| Frencken | E28 | 483 | 7.8 | 1.6% | 20 | -51 | Technology |
| Yangzijiang Financial | YF8 | 1,378 | 20.9 | 1.5% | 6 | N/A | Financial Services |
| CapitaLand China Trust | AU8U | 1,876 | 25.8 | 1.4% | 3 | -1 | REITs |
| Sembcorp | U96 | 7,793 | 104.4 | 1.3% | 30 | 73 | Utilities |
| Genting Singapore | G13 | 13,521 | 171.2 | 1.3% | 17 | 26 | Consumer Cyclicals |
| 10 stocks that booked the highest net institutional outflow in proportionate to quarter-end market cap among the top 100 most traded SGX stocks in 1Q23 | SGX Code |
Market Cap S$M |
1Q23 Net Institutional Inflow S$M |
1Q23 Net Institutional Flow / Market Cap |
1Q23 Total Return % |
2022 Total Return % |
Sector |
|---|---|---|---|---|---|---|---|
| The Place Holdings | E27 | 41 | -6.4 | -15.7% | -68 | -72 | Financial Services |
| Rex International | 5WH | 203 | -5.1 | -2.5% | -27 | -28 | Energy/ Oil & Gas |
| Prime US REIT | OXMU | 505 | -12.3 | -2.4% | -16 | -47 | REITs |
| Suntec REIT | T82U | 4,128 | -99.4 | -2.4% | 5 | -3 | REITs |
| Keppel Corporation | BN4 | 10,025 | -207.0 | -2.1% | 19 | 49 | Industrials |
| Jiutian Chemical | C8R | 145 | -2.7 | -1.8% | -10 | 16 | Materials & Resources |
| Manulife US REIT | BTOU | 509 | -9.1 | -1.8% | -23 | -53 | REITs |
| ComfortDelGro | C52 | 2,556 | -45.6 | -1.8% | -4 | -8 | Industrials |
| Geo Energy | RE4 | 461 | -7.8 | -1.7% | 2 | 20 | Energy/ Oil & Gas |
| Yangzijiang | BS6 | 4,741 | -80.3 | -1.7% | -12 | 107 | Industrials |
Source: SGX, Refinitiv, Bloomberg (Data as of 31 March 2023).
Note: Fund Flows takes account of trades in the 'Buying-in Market' and 'Unit Share Market'.
* Boustead Projects requested mandatory suspension on 28 March, following number of shares in public hands as of 17 March falling below the 10% threshold.
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The 100 most traded stocks in 1Q23 included 4 Catalist-listed stocks - Jiutian Chemical, Pollux Properties, Medtecs International and Acesian Partners.
Stocks that moved from outside the 100 traded stocks in 2022, to within the 100 most traded in 1Q23 included Halcyon Agri, Thomson Medical, China Aviation Oil, Tianjin Da Ren Tang, Sabana REIT, Food Empire, Delfi, Pollux Properties, Cosco Shipping, and Medtecs International.
The 100 most traded SGX-listed stocks in 1Q23, sort by highest trading turnover are tabled below.
| 100 Most Traded Singapore listed Stocks In 1Q23 | SGX Code |
Market Cap S$M |
1Q23 Average Daily Turnover S$M |
1Q23 Net Institutional Inflow S$M |
1Q23 Net Retail Inflow S$M |
1Q23 Price Change % |
1Q23 Total Return % |
Last week of March Average Bid/Ask Spread (bps) |
Sector |
|---|---|---|---|---|---|---|---|---|---|
| DBS | D05 | 85,101 | 146.9 | -773.3 | 560.6 | -3 | -3 | 3.9 | Financial Services |
| UOB | U11 | 49,856 | 101.3 | -353.6 | 262.1 | -3 | -3 | 4.5 | Financial Services |
| OCBC | O39 | 55,591 | 69.4 | -31.7 | -95.3 | 2 | 2 | 8.7 | Financial Services |
| SingTel | Z74 | 40,601 | 55.8 | -277.8 | 175.5 | -4 | -4 | 41.2 | Telecommunications |
| CapitaLand Integrated Commercial Trust | C38U | 13,164 | 43.4 | -106.0 | 49.4 | -3 | 0 | 51.4 | REITs |
| Yangzijiang | BS6 | 4,741 | 42.0 | -80.3 | 53.1 | -12 | -12 | 82.1 | Industrials |
| Sembcorp Marine | S51 | 8,120 | 41.5 | 57.8 | -59.8 | -14 | -14 | 89.8 | Industrials |
| Genting Singapore | G13 | 13,521 | 33.7 | 171.2 | -195.7 | 17 | 17 | 91.8 | Consumer Cyclicals |
| Keppel Corporation | BN4 | 10,025 | 31.4 | -207.0 | 203.2 | 19 | 19 | 18.2 | Industrials |
| CapitaLand Ascendas REIT | A17U | 12,023 | 31.1 | -14.3 | -24.3 | 4 | 7 | 35.4 | REITs |
| CapitaLand Investment | 9CI | 18,848 | 26.1 | 15.6 | -34.3 | -1 | -1 | 27.7 | Financial Services |
| Mapletree Logistics Trust | M44U | 8,235 | 25.2 | -5.1 | -23.8 | 8 | 9 | 58.7 | REITs |
| Wilmar | F34 | 26,281 | 25.2 | -14.5 | 6.9 | 1 | 1 | 24.1 | Consumer Non-Cyclicals |
| SIA | C6L | 17,021 | 25.2 | 19.9 | -54.3 | 4 | 4 | 17.5 | Industrials |
| Mapletree Pan Asia Commercial Trust | N2IU | 9,431 | 19.1 | 1.3 | -4.4 | 8 | 9 | 55.9 | REITs |
| Jardine Matheson | J36 | 18,734 | 18.1 | -29.9 | 15.0 | -5 | -2 | 18.1 | Industrials |
| SGX | S68 | 10,039 | 18.1 | -15.5 | -25.3 | 5 | 6 | 11.4 | Financial Services |
| SATS | S58 | 4,150 | 17.1 | 3.0 | -0.6 | 4 | 4 | 37.3 | Industrials |
| ST Engineering | S63 | 11,413 | 16.4 | 38.9 | -19.7 | 9 | 9 | 28.0 | Industrials |
| Thai Beverage | Y92 | 15,829 | 15.8 | 18.9 | -19.0 | -8 | -6 | 77.6 | Consumer Non-Cyclicals |
| Sembcorp | U96 | 7,793 | 15.4 | 104.4 | -97.8 | 30 | 30 | 23.5 | Utilities |
| Jardine Cycle & Carriage | C07 | 12,363 | 14.9 | -5.0 | -20.7 | 9 | 9 | 9.5 | Consumer Cyclicals |
| City Developments | C09 | 6,684 | 14.2 | -87.8 | 69.0 | -10 | -10 | 14.2 | Real Estate (excl. REITs) |
| Frasers Logistics & Commercial Trust | BUOU | 4,870 | 13.9 | 3.7 | -1.9 | 13 | 13 | 78.0 | REITs |
| Venture Corp | V03 | 5,141 | 13.2 | 8.8 | -30.4 | 4 | 4 | 8.3 | Technology |
| Suntec REIT | T82U | 4,128 | 12.4 | -99.4 | 104.5 | 4 | 5 | 70.2 | REITs |
| Keppel DC REIT | AJBU | 3,543 | 12.0 | 25.3 | -33.3 | 16 | 19 | 48.8 | REITs |
| Mapletree Industrial Trust | ME8U | 6,492 | 11.4 | -3.6 | 10.6 | 7 | 8 | 42.7 | REITs |
| Hongkong Land | H78 | 13,657 | 11.2 | -5.7 | 8.7 | -5 | -1 | 25.4 | Real Estate (excl. REITs) |
| Keppel REIT | K71U | 3,323 | 9.3 | -25.0 | 36.3 | -3 | 0 | 57.2 | REITs |
| ComfortDelGro | C52 | 2,556 | 8.3 | -45.6 | 46.4 | -4 | -4 | 84.4 | Industrials |
| UMS | 558 | 744 | 8.3 | 1.8 | 8.2 | -6 | -6 | 92.6 | Technology |
| UOL Group | U14 | 5,853 | 6.5 | 8.8 | -6.3 | 3 | 3 | 16.8 | Real Estate (excl. REITs) |
| CapitaLand Ascott Trust | HMN | 3,439 | 6.3 | -4.7 | -0.4 | -5 | -3 | 60.4 | REITs |
| Lendlease REIT | JYEU | 1,580 | 6.2 | -26.2 | 26.1 | -4 | 0 | 73.5 | REITs |
| Golden Agri-Resources | E5H | 3,614 | 6.0 | 37.1 | -20.0 | 14 | 14 | 174.5 | Consumer Non-Cyclicals |
| AEM | AWX | 982 | 5.6 | -5.0 | 2.5 | -7 | -7 | 35.4 | Technology |
| Samudera Shipping | S56 | 679 | 5.5 | 8.3 | -8.7 | 50 | 50 | 78.6 | Industrials |
| Frencken | E28 | 483 | 5.4 | 7.8 | -7.7 | 20 | 20 | 92.9 | Technology |
| Frasers Centrepoint Trust | J69U | 3,909 | 5.3 | 10.4 | -8.4 | 9 | 9 | 45.4 | REITs |
| NanoFilm | MZH | 1,055 | 5.3 | 8.5 | -11.1 | 16 | 16 | 64.1 | Technology |
| Yangzijiang Financial | YF8 | 1,378 | 4.7 | 20.9 | -17.8 | 6 | 6 | 134.8 | Financial Services |
| Olam | VC2 | 6,026 | 4.3 | -0.7 | 2.2 | 8 | 8 | 69.7 | Consumer Non-Cyclicals |
| CapitaLand China Trust | AU8U | 1,876 | 4.2 | 25.8 | -20.0 | 0 | 3 | 88.8 | REITs |
| ESR-LOGOS REIT | J91U | 2,340 | 4.1 | -7.7 | 16.8 | -12 | -7 | 155.5 | REITs |
| First Resources | EB5 | 2,462 | 3.6 | 2.1 | -3.3 | 6 | 6 | 64.1 | Consumer Non-Cyclicals |
| Haw Par | H02 | 2,156 | 3.3 | -18.6 | 11.0 | 2 | 2 | 15.1 | Healthcare |
| Sheng Siong | OV8 | 2,541 | 3.2 | 8.5 | -8.6 | 2 | 2 | 59.7 | Consumer Non-Cyclicals |
| Best World | CGN | 1,070 | 3.1 | 25.3 | -27.7 | 38 | 38 | 44.5 | Consumer Cyclicals |
| Raffles Medical | BSL | 2,771 | 3.1 | 17.7 | -19.9 | 6 | 6 | 68.9 | Healthcare |
| NetLink Trust | CJLU | 3,351 | 2.8 | -10.4 | 9.0 | 4 | 4 | 59.5 | Telecommunications |
| NIO | NIO | 20,571 | 2.8 | 1.3 | 10.5 | 0 | 0 | 29.4 | Consumer Cyclicals |
| Golden Energy & Resources | AUE | 2,612 | 2.6 | 19.3 | -18.1 | 26 | 26 | 57.9 | Energy/ Oil & Gas |
| DFI Retail | D01 | 5,467 | 2.6 | 18.2 | -19.1 | 3 | 4 | 37.8 | Consumer Non-Cyclicals |
| Keppel Infra Trust | A7RU | 2,621 | 2.5 | -3.7 | 8.1 | -3 | 1 | 93.9 | Utilities |
| CapitaLand India Trust | CY6U | 1,270 | 2.5 | -13.5 | 14.2 | -4 | 0 | 92.9 | REITs |
| Digital Core REIT | DCRU | 666 | 2.1 | -9.2 | 7.6 | -19 | -17 | 115.5 | REITs |
| CDL Hospitality Trusts | J85 | 1,474 | 2.0 | 0.2 | -1.6 | -5 | -2 | 85.9 | REITs |
| Geo Energy | RE4 | 461 | 1.8 | -7.8 | 7.1 | 2 | 2 | 157.5 | Energy/ Oil & Gas |
| Parkway Life REIT | C2PU | 2,414 | 1.7 | 1.5 | 0.6 | 6 | 8 | 31.4 | REITs |
| Hutchison Port Holdings Trust | NS8U | 2,171 | 1.6 | 0.7 | -1.1 | -4 | 1 | 52.7 | Industrials |
| iFAST | AIY | 1,442 | 1.6 | -0.3 | -0.7 | -16 | -16 | 26.6 | Technology |
| Manulife US REIT | BTOU | 509 | 1.5 | -9.1 | 9.2 | -29 | -23 | 229.7 | REITs |
| Rex International | 5WH | 203 | 1.5 | -5.1 | 5.3 | -27 | -27 | 74.6 | Energy/ Oil & Gas |
| RH PetroGas | T13 | 159 | 1.5 | -0.3 | 0.5 | 1 | 1 | 57.4 | Energy/ Oil & Gas |
| ISDN | I07 | 225 | 1.4 | 5.0 | -6.0 | 17 | 17 | 110.1 | Technology |
| Paragon REIT | SK6U | 2,675 | 1.4 | 16.8 | -17.2 | 5 | 7 | 53.9 | REITs |
| Top Glove | BVA | 2,282 | 1.4 | 7.5 | -7.7 | 6 | 6 | 176.1 | Healthcare |
| StarHub | CC3 | 1,799 | 1.3 | -0.1 | 1.2 | 0 | 0 | 97.2 | Telecommunications |
| AIMS APAC REIT | O5RU | 951 | 1.3 | 4.1 | -4.4 | 6 | 8 | 76.4 | REITs |
| Dyna-Mac | NO4 | 207 | 1.2 | 1.4 | -2.7 | 6 | 6 | 84.8 | Industrials |
| Halcyon Agri | 5VJ | 654 | 1.2 | 8.2 | -8.8 | 4 | 4 | 121.2 | Consumer Cyclicals |
| Riverstone | AP4 | 889 | 1.2 | -4.1 | 2.9 | -2 | 2 | 98.4 | Healthcare |
| Prime US REIT | OXMU | 505 | 1.2 | -12.3 | 12.4 | -21 | -16 | 161.8 | REITs |
| Sasseur REIT | CRPU | 919 | 1.1 | -4.3 | 4.3 | -1 | 0 | 69.0 | REITs |
| Thomson Medical | A50 | 1,772 | 1.1 | -5.6 | 3.9 | -14 | -14 | 148.1 | Healthcare |
| Yanlord | Z25 | 1,758 | 1.1 | -1.1 | 1.6 | -11 | -11 | 59.0 | Real Estate (excl. REITs) |
| China Aviation Oil | G92 | 843 | 1.0 | 5.2 | -4.6 | 10 | 10 | 61.5 | Industrials |
| Tianjin Da Ren Tang | T14 | 4,902 | 1.0 | 15.0 | -16.4 | 35 | 35 | 82.0 | Healthcare |
| SingPost | S08 | 1,125 | 1.0 | 4.0 | -4.2 | -4 | -4 | 99.5 | Industrials |
| Hong Fok | H30 | 836 | 0.9 | -0.6 | -0.6 | 7 | 7 | 99.1 | Real Estate (excl. REITs) |
| Japfa | UD2 | 468 | 0.9 | -6.7 | 6.4 | -33 | -33 | 215.3 | Consumer Non-Cyclicals |
| SIA Engineering | S59 | 2,524 | 0.9 | -1.0 | -0.3 | -4 | -4 | 47.4 | Industrials |
| Parkson Retail Asia ^ | O9E | 55 | 0.9 | 1.3 | -1.0 | 0 | 0 | 131.5 | Consumer Cyclicals |
| Far East Hospitality Trust | Q5T | 1,165 | 0.9 | -0.8 | -0.2 | -6 | -3 | 84.8 | REITs |
| Emperador. | EMI | 7,947 | 0.9 | 0.6 | -0.4 | -1 | -1 | 98.9 | Consumer Non-Cyclicals |
| Starhill Global REIT | P40U | 1,171 | 0.8 | 0.5 | -0.3 | -4 | -1 | 95.9 | REITs |
| Boustead Project | AVM | 299 | 0.7 | 10.5 | -10.5 | 16 | 16 | 52.5 | Industrials |
| Sabana REIT | M1GU | 479 | 0.7 | -0.9 | 0.8 | 0 | 3 | 117.4 | REITs |
| Acesian Partners | 5FW | 30 | 0.7 | 0.9 | -1.3 | 48 | 48 | 158.7 | Industrials |
| Food Empire | F03 | 544 | 0.7 | 2.3 | -4.3 | 61 | 61 | 84.8 | Consumer Non-Cyclicals |
| Cromwell REIT | CWBU | 1,223 | 0.7 | -4.4 | 4.0 | 1 | 6 | 76.1 | REITs |
| Keppel Pacific Oak US REIT | CMOU | 529 | 0.7 | -8.5 | 8.3 | -18 | -13 | 134.9 | REITs |
| Delfi | P34 | 691 | 0.7 | -2.7 | 1.3 | 46 | 46 | 91.5 | Consumer Non-Cyclicals |
| Jiutian Chemical | C8R | 145 | 0.6 | -2.7 | 2.5 | -10 | -10 | 137.3 | Materials & Resources |
| The Place Holdings | E27 | 41 | 0.6 | -6.4 | 6.5 | -68 | -68 | 1,341.2 | Financial Services |
| Pollux Properties | 5AE | 132 | 0.6 | -0.1 | 0.0 | 9 | 9 | 214.5 | Real Estate (excl. REITs) |
| Cosco Shipping | F83 | 367 | 0.6 | -1.5 | 1.5 | -8 | -8 | 68.0 | Industrials |
| Medtecs International | 546 | 70 | 0.6 | -0.8 | 0.7 | -36 | -36 | 91.9 | Healthcare |
| MarcoPolo Marine | 5LY | 161 | 0.6 | 0.7 | -0.6 | 5 | 5 | 234.2 | Industrials |
| Total | 634,011 | 1,097 | -1,591 | 766 | |||||
| Average | 2 | 3 |
Source: SGX, Refinitiv, Bloomberg (Data as of 31 March 2023).
Note: Fund Flows takes account of trades in the 'Buying-in Market' and 'Unit Share Market'.
^ on SGX Watchlist.
See also the summary of
