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Author: SGX   |   Latest post: Thu, 2 Feb 2023, 9:02 AM

 

Recent Manufacturing Index Gains Powered by Tech & Healthcare Sectors

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  • The indicative iEdge SG Advanced Manufacturing Index is comprised of more than 100 stocks, spanning multiple sectors, and is responsive to both local and regional developments. The Index has generated a 7% gain over the first 9-sessions of Nov, with S$84 million of net institutional inflows.
  • The recent momentum has brought the 3-year total return of the Manufacturing Index to 25%, which is comparable to the FTSE Developed Index total return, while outpacing the 12% and 2% respective total returns for the STI and the FTSE Asia Pacific Index.  
  • The Manufacturing Index constituents also contributed 17% of Singapore’s average daily stock market turnover in the 2022 YTD.  The lion’s share of the trading turnover was contributed by the Index’s 20 most traded stocks, which mostly comprise technology, industrials, consumer non-cyclical and healthcare plays.
  • The five of these 20 most traded stocks of the Manufacturing Index that has seen the strongest gains in early November included Frencken, Riverstone, UMS, Top Glove, YZJ Shipbldg and AEM. The five averaged 19% MTD returns, while the five least performing of the 20 stocks averaged 4% declines.

For the first nine sessions of November, the indicative iEdge SG Advanced Manufacturing Index returned 6.9%, outpacing the STI’s 4.7% return, with more alignment to FTSE Asia Pacific Index’s 7.9% return. The regional sensitivity of the iEdge SG Advanced Manufacturing Index is further exemplified with comparable one-year correlations to both the STI and FTSE Asia Pacific Index.  At the same time, the recent session gains of the global stock market have been more broad and less disproportionate as observed through the first 10 months of 2022. This is due to the progress in the US headline CPI further decelerating, from 9.1% in June to 7.7% in October, and impact on the rate outlook, in addition to China optimising disease control measures, including the easing of quarantine periods for inbound visitors. China stocks were further buoyed this morning, with Reuters reporting the PBOC and CBIRC had outlined 16 steps to support the China property industry, “including loan repayment extensions, in a major push to ease the deep liquidity crunch”.

The constituents of the iEdge SG Advanced Manufacturing Index have contributed 17% of Singapore’s average daily stock market turnover in the 2022 year to 11 Nov. The lion’s share of the trading turnover was contributed by the Index’s 20 most traded stocks, tabled below, which mostly comprise technology, industrials, consumer non-cyclical and healthcare plays.

iEdge SG Adv Manu Index - Most Traded 20 Constituents ranked by highest Nov MTD gains

Code

Mkt Cap S$M

Avg. Daily T/O S$M

MTD Net Insti Flow S$M

MTD Total Ret. %

YTD Net Insti Flow S$M

YTD Total Ret. %

Sector

Frencken

E28

440

5.16

4.43

23

-51.50

-46

Technology (Hardware/ Software)

Riverstone

AP4

971

2.92

-0.86

21

31.32

13

Healthcare

UMS

558

716

7.12

-0.77

20

-25.76

-27

Technology (Hardware/ Software)

Top Glove

BVA

2,282

2.39

2.04

19

-10.04

-63

Healthcare

YZJ Shipbldg SGD

BS6

5,452

31.79

54.23

15

103.89

110

Industrials

AEM SGD

AWX

1,124

9.26

3.93

13

-23.08

-29

Technology (Hardware/ Software)

Venture

V03

5,173

15.87

23.68

12

-48.38

1

Technology (Hardware/ Software)

ISDN

I07

175

1.00

-0.06

10

-3.52

-43

Technology (Hardware/ Software)

Dyna-Mac

NO4

202

1.89

0.05

9

2.91

115

Industrials

NIO Inc. USD OV

NIO

22,447

5.09

-2.69

9

-23.89

N/A

Consumer Cyclicals

Aztech Gbl

8AZ

656

1.08

1.09

8

-6.67

6

Technology (Hardware/ Software)

Sembcorp Marine

S51

4,206

14.93

27.95

6

183.63

63

Industrials

ThaiBev

Y92

15,198

13.78

4.00

5

-62.25

-6

Consumer Non-Cyclicals

Wilmar Intl

F34

25,028

30.30

2.89

3

80.49

1

Consumer Non-Cyclicals

SIA Engineering

S59

2,494

1.46

-0.09

3

12.59

2

Industrials

ST Engineering

S63

10,523

20.74

0.85

2

-90.24

-6

Industrials

First Resources

EB5

2,386

5.68

3.60

2

5.04

5

Consumer Non-Cyclicals

Jiutian Chemical

C8R

153

2.60

-0.08

-1

20.15

10

Materials & Resources

SATS

S58

2,979

13.16

-22.98

-3

-150.66

-32

Industrials

Nanofilm

MZH

920

4.23

-14.95

-20

-92.24

-63

Technology (Hardware/ Software)

Source: SGX, Refinitiv, Bloomberg (Data as of 11 Nov 2022)

Among the 20 stocks tabled above, global Integrated Technology Solutions provider Frencken Group generated the highest gains in the month to 11 Nov, while also ranking as the third least performer in the 2022 year-to-date. Frencken Group noted in August that the China government’s pandemic-related measures had heightened operating challenges in the country and besides affecting the Group’s operations, these factors delayed new product introduction programs and the production schedules of some customers.  

Riverstone Holdings followed Frencken Group with a 21% gain in the month to Nov 11. In a corporate presentation last week the company acknowledged there is currently overcapacity of medical gloves in the industry, while also maintaining its two diversified streams of revenue were both premium healthcare gloves and high tech cleanroom gloves. Meanwhile smoothed daily global COVID-19 cases increased from near 320,000 on 2 Nov, to above 360,000 on Nov 12.

UMS Holdings gained 20% in the month to Nov 11. The company also provided a business update after the 11 Nov close, highlighting its best ever 9M22 performance, with record revenue of S$271.4 million and an all-time high net profit of S$85.8 million, with Malaysia operations delivering a 104% surge in sales to $5.8 million, due mainly to the commencement of first article fabrication for a new customer. Touting industry forecasts, UMS noted that “although near-term challenges remain arising from uncertainties caused by ongoing US-China tech rivalry, rising inflation and supply chain disruption caused by geopolitical tensions such as the Russia-Ukraine crisis, global chip demand is expected to stay fairly strong in the longer term”.

The full list of constituents for the iEdge SG Advanced Manufacturing Index are tabled below and ranked according to the highest daily trading turnover.

iEdge SG Adv Manu Index – Ranked by highest Trading Turnover

Code

Mkt Cap S$M

Avg. Daily T/O S$M

MTD Net Insti Flow S$M

MTD Total Return %

YTD Net Insti Flow S$M

YTD Total Return %

Sector

YZJ Shipbldg SGD

BS6

5,452

31.79

54.23

15

103.89

110

Industrials

Wilmar Intl

F34

25,029

30.30

2.89

3

80.49

1

Consumer Non-Cyclicals

ST Engineering

S63

10,523

20.74

0.85

2

-90.24

-6

Industrials

Venture

V03

5,173

15.87

23.68

12

-48.38

1

Technology (Hardware/ Software)

Sembcorp Marine

S51

4,206

14.93

27.95

6

183.63

63

Industrials

ThaiBev

Y92

15,198

13.78

4.00

5

-62.25

-6

Consumer Non-Cyclicals

SATS

S58

2,979

13.16

-22.98

-3

-150.66

-32

Industrials

AEM SGD

AWX

1,124

9.26

3.93

13

-23.08

-29

Technology (Hardware/ Software)

UMS

558

716

7.12

-0.77

20

-25.76

-27

Technology (Hardware/ Software)

First Resources

EB5

2,386

5.68

3.60

2

5.04

5

Consumer Non-Cyclicals

Frencken

E28

440

5.16

4.43

23

-51.50

-46

Technology (Hardware/ Software)

NIO Inc. USD OV

NIO

22,447

5.09

-2.69

9

-23.89

N/A

Consumer Cyclicals

Nanofilm

MZH

920

4.23

-14.95

-20

-92.24

-63

Technology (Hardware/ Software)

Riverstone

AP4

971

2.92

-0.86

21

31.32

13

Healthcare

Jiutian Chemical

C8R

153

2.60

-0.08

-1

20.15

10

Materials & Resources

Top Glove

BVA

2,282

2.39

2.04

19

-10.04

-63

Healthcare

Dyna-Mac

NO4

202

1.89

0.05

9

2.91

115

Industrials

SIA Engineering

S59

2,494

1.46

-0.09

3

12.59

2

Industrials

Aztech Gbl

8AZ

656

1.08

1.09

8

-6.67

6

Technology (Hardware/ Software)

ISDN

I07

175

1.00

-0.06

10

-3.52

-43

Technology (Hardware/ Software)

Haw Par

H02

2,120

1.00

-0.97

1

-26.85

-13

Healthcare

MarcoPolo Marine

5LY

152

0.87

-0.17

16

3.58

59

Industrials

Acesian Partners

5FW

24

0.73

0.09

45

0.64

200

Industrials

Oceanus

579

409

0.49

-0.10

45

-17.28

-47

Consumer Non-Cyclicals

Medtecs Intl

546

90

0.47

-0.57

-6

-0.01

-51

Healthcare

Mencast^

5NF

21

0.32

-0.02

24

0.06

48

Energy/ Oil & Gas

Grand Venture

JLB

170

0.26

-0.06

2

1.09

-58

Industrials

Delfi

P34

464

0.24

-0.04

8

-5.87

5

Consumer Non-Cyclicals

UGHealthcare

8K7

128

0.22

0.10

3

0.91

-36

Healthcare

Valuetronics

BN2

206

0.19

-0.03

10

3.09

-7

Technology (Hardware/ Software)

AsiaPhos

5WV

20

0.17

-0.16

12

0.12

58

Materials & Resources

DISA

532

30

0.15

0.00

0

0.62

-57

Technology (Hardware/ Software)

Del Monte Pac

D03

593

0.15

0.07

3

-0.75

-20

Consumer Non-Cyclicals

Mermaid Maritime

DU4

110

0.13

-0.06

11

-0.19

4

Energy/ Oil & Gas

Food Empire

F03

289

0.12

-0.11

8

-5.71

-27

Consumer Non-Cyclicals

Biolidics

8YY

12

0.12

-0.15

12

-2.58

-79

Healthcare

Halcyon Agri

5VJ

463

0.11

0.09

18

-1.28

26

Consumer Cyclicals

G Invacom

QS9

15

0.10

0.00

12

-0.08

-26

Technology (Hardware/ Software)

Matex Intl

M15

8

0.10

0.00

4

0.30

-10

Materials & Resources

Sarine Tech

U77

133

0.09

0.09

7

0.15

-34

Industrials

QAF

Q01

475

0.09

0.01

3

-3.90

2

Consumer Non-Cyclicals

ChinaSunsine

QES

431

0.09

-0.16

6

-0.72

-3

Materials & Resources

Broadway Ind

B69

59

0.09

0.00

2

-0.92

-38

Technology (Hardware/ Software)

Hong Leong Asia

H22

490

0.08

0.06

4

0.37

-20

Consumer Cyclicals

Beng Kuang

BEZ

12

0.07

0.00

13

-0.26

-29

Industrials

Addvalue Tech

A31

42

0.07

0.01

0

0.93

-7

Technology (Hardware/ Software)

Micro-Mechanics

5DD

374

0.07

-0.01

-2

-1.41

-17

Technology (Hardware/ Software)

Global Testing

AYN

42

0.06

-0.01

7

-0.14

118

Technology (Hardware/ Software)

InnoTek

M14

100

0.06

-0.01

0

-1.47

-42

Technology (Hardware/ Software)

Creative

C76

106

0.05

-0.01

18

0.84

-37

Technology (Hardware/ Software)

Indofood Agri

5JS

426

0.05

0.08

3

1.88

-4

Consumer Non-Cyclicals

Zhongxin Fruit

5EG

36

0.04

0.00

13

-0.03

17

Consumer Non-Cyclicals

IX Biopharma

42C

99

0.04

-0.08

4

0.00

-34

Healthcare

Nordic

MR7

184

0.03

0.00

2

-0.30

17

Industrials

JEP

1J4

134

0.03

-0.01

5

1.35

14

Industrials

China Star Food

42W

28

0.03

0.00

18

0.07

-9

Consumer Non-Cyclicals

PSC Corporation

DM0

183

0.03

0.00

-3

-0.09

-20

Materials & Resources

Sri Trang Agro

NC2

1,160

0.03

0.08

8

-0.36

-35

Consumer Cyclicals

Miyoshi

M03

11

0.024

0.00

-16

-0.77

-27

Technology (Hardware/ Software)

H2G Green

5AI

22

0.023

0.00

5

-0.07

-31

Consumer Cyclicals

Mewah Intl

MV4

495

0.022

-0.05

0

0.96

-11

Consumer Non-Cyclicals

Willas-Array

BDR

44

0.016

0.00

-9

0.19

-14

Technology (Hardware/ Software)

Tai Sin Electric

500

178

0.015

0.04

-5

-0.27

9

Industrials

Serial System

S69

64

0.015

0.00

-9

-0.43

-33

Industrials

Penguin Intl

BTM

154

0.014

0.01

-3

-0.45

20

Industrials

Baker Technology

BTP

97

0.013

0.00

3

-0.12

23

Financial Services

CDW

BXE

47

0.010

0.00

0

-0.35

-11

Technology (Hardware/ Software)

MTQ

M05

48

0.010

0.00

0

-0.80

-10

Energy/ Oil & Gas

Yeo Hiap Seng

Y03

398

0.009

-0.02

-1

-0.49

-22

Consumer Non-Cyclicals

Sinostar Pec

C9Q

115

0.008

0.00

6

-0.07

-37

Energy/ Oil & Gas

Hoe Leong

H20

41

0.007

0.00

0

-0.36

50

Industrials

Tat Seng Pkg

T12

105

0.006

0.00

12

0.20

-9

Materials & Resources

Sunright

S71

31

0.005

0.00

6

0.02

-44

Technology (Hardware/ Software)

PNE Industries

BDA

63

0.005

0.00

0

-0.03

-6

Industrials

Eindec

42Z

5

0.005

0.00

-11

0.00

-22

Industrials

Karin Tech

K29

75

0.005

0.00

4

0.14

32

Technology (Hardware/ Software)

AP Oil

5AU

23

0.004

0.00

-13

-0.54

-9

Materials & Resources

LHT

BEI

37

0.004

0.00

6

-0.36

6

Materials & Resources

Samurai 2K

Y8E

90

0.004

0.00

0

-0.32

-18

Materials & Resources

Accrelist Ltd

QZG

12

0.004

0.00

8

0.00

-31

Technology (Hardware/ Software)

New Toyo

N08

92

0.003

0.01

5

0.06

12

Materials & Resources

Teho Intl

5OQ

13

0.003

0.00

12

0.02

41

Industrials

Ellipsiz

BIX

48

0.003

0.00

-2

0.00

-9

Technology (Hardware/ Software)

Jubilee

NHD

11

0.002

0.00

-18

0.01

-38

Industrials

ES

5RC

0.0

0.002

0.00

0

-0.11

0

Industrials

Jadason

J03

11

0.002

0.00

-6

-0.01

-40

Technology (Hardware/ Software)

Chemical Ind

C05

54

0.002

0.01

1

0.06

-4

Materials & Resources

ASL Marine^

A04

25

0.002

0.00

-2

-0.05

-33

Industrials

Qian Hu

BCV

20

0.002

0.00

0

-0.03

-15

Consumer Non-Cyclicals

Anchun Intl

BTX

13

0.002

0.00

-2

-0.14

20

Industrials

MFG Integration

M11

12

0.002

0.00

4

-0.02

-24

Technology (Hardware/ Software)

Trek 2000 Intl

5AB

21

0.001

0.00

0

0.06

-33

Technology (Hardware/ Software)

XMH^

BQF

22

0.001

0.00

14

0.17

76

Industrials

Advanced

BLZ

6

0.001

0.00

-4

-0.06

-27

Energy/ Oil & Gas

Wong Fong Ind

1A1

32

0.001

-0.06

-18

-0.06

-5

Industrials

Old Chang Kee

5ML

74

0.001

0.00

-6

0.02

-10

Consumer Cyclicals

Fuxing China

AWK

11

0.001

0.00

0

-0.06

-20

Consumer Cyclicals

Versalink

40N

14

0.001

0.00

-5

-0.03

63

Industrials

Jason Marine

5PF

17

0.001

0.00

0

-0.05

28

Technology (Hardware/ Software)

KTMG

XCF

34

0.000

0.00

0

0.00

3

Consumer Cyclicals

VibroPower

BJD

5

0.000

0.00

0

0.00

24

Utilities

Pharmesis Intl

BFK

2

0.000

0.00

-1

0.00

-37

Healthcare

Shanghai Turbo

AWM

2

0.000

0.00

-25

0.00

-83

Industrials

Total

 

116,058

197.8

84.2

 

-206.52

 

 

Source: SGX, Refinitiv, Bloomberg (Data as of 11 Nov 2022) ^Note currently placed on SGX Watchlist.

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