The first three sessions of the week, spanning the April 22, 23 and 24, saw the STI generate a 3.7% total return. The three sessions also saw the STI constituents book a combined S$202 million of net institutional inflow. Seatrium led the gains of the STI constituents over the three sessions with an 11.7% gain, while also booking the second highest net institutional inflow proportionate to market capitalisation at 0.31%. Seatrium also ranks among the four STI stocks with the highest beta coefficients, which also includes CapitaLand Investment, Mapletree Pan Asia Commercial Trust and DFI Retail Group. These three stocks were also among the five strongest STI constituents over the three sessions, along with Hongkong Land. Note beta simply measures the stock volatility relative to the broader market volatility.
This was the third such instance of a 3-session STI rally with returns in the vicinity of 3% in the space of four months. The preceding snap rallies occurred over the three trading sessions spanning Feb 14, 15 and 16, with the STI booking a 2.6% total return, and then in late 2023, with the STI rallying 3.2% over Dec 27, 28 and 29. This has brought some reprieve to STI declines over the past 17 weeks, with the STI booking a 2.5% total return in the 2024 year through to 24 April.
Of the 10 stocks that saw the strongest gains over the three sessions of April 22, 23 and 24, as many as eight stocks had been among the 10 laggard STI stocks in the 2024 year through to 19 April. This compares to just three of the laggard stocks in the 2024 year to Feb 13 ranking among the 10 stocks that led the STI rally over Feb 14, 15 and 16.
The eight stocks that were among the 10 STI strongest performers over April 22, 23 and 24, and laggards for the preceding 15 weeks included Seatrium, DFI Retail Group, Hongkong Land, CapitaLand Investment, Mapletree Pan Asia Commercial Trust, City Developments, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.
Seven of the eights stocks are trading at P/B ratios on average 30% below respective 5-year P/B averages, with the eight stocks also trading on average 30% below Refinitiv Consensus Estimate Target Prices. Available on the SGX Stock Screener, Refinitiv consensus estimates represents the average of individual estimates provided by analysts covering the stock and estimates typically represent an analyst's opinion of the company performance over the next 18 months.
Other notable observations included the trio of Real Estate (Ex-REIT) stocks booking combined net institutional inflows in the 3-session April rally, versus net institutional outflow in the 3-session February rally, as did Utility play Sembcorp Industries. From the close of Feb 16 through to the close of April 19, the trio of Hongkong Land, City Developments and UOL Group had averaged fair symmetrical declines in total return of 7.2% versus the STI decline in total return of 0.9%. Sembcorp Industries also declined 7.6% over the period.
Net institutional inflows to the Financial Services and Industrial sectors were relatively consistent in the 3-session February and April rallies, while the smaller net institutional outflows to the Consumer Sector and REITs were also relatively consistent. The gains of the current STI constituents over the three short 3-session periods are tabled below and sort by highest total returns over the April 22, 23 and 24 sessions.
STI Stocks Sort by Strongest Gains from 19 April close to 24 April close |
Code |
Mkt Cap S$M |
TR% |
TR% |
NIF S$M 14 Feb - 16 Feb 2024 |
TR% |
NIF S$M |
NIF |
TR% YTD |
YTD NIF S$M |
Sector |
Seatrium |
S51 |
5,867 |
4.4 |
4.5 |
-7.3 |
11.7 |
18.1 |
0.31% |
-27.1 |
-91.5 |
Industrials |
DFIRG USD |
D01 |
3,555 |
11.2 |
3.0 |
0.6 |
9.1 |
1.0 |
0.03% |
-15.0 |
-7.7 |
Consumer Non-Cyclicals |
HongkongLand USD |
H78 |
9,222 |
3.2 |
-0.4 |
1.4 |
8.5 |
7.6 |
0.08% |
-4.3 |
-1.9 |
Real Estate (excl. REITs) |
CapitaLand Invest |
9CI |
13,460 |
5.3 |
3.2 |
-5.9 |
7.7 |
1.6 |
0.01% |
-16.1 |
-177.4 |
Financial Services |
Mapletree Pan Asia Com T |
N2IU |
6,724 |
4.7 |
2.9 |
-3.6 |
5.8 |
-4.6 |
-0.07% |
-17.2 |
-71.5 |
REITs |
SIA |
C6L |
19,475 |
2.2 |
3.2 |
33.0 |
4.8 |
14.0 |
0.07% |
-0.2 |
-143.0 |
Industrials |
CapLand IntCom T |
C38U |
13,261 |
3.0 |
1.3 |
-5.2 |
4.8 |
15.1 |
0.11% |
-1.6 |
-28.4 |
REITs |
City Dev |
C09 |
5,379 |
3.4 |
1.8 |
-0.7 |
4.5 |
11.3 |
0.21% |
-9.8 |
-54.1 |
Real Estate (excl. REITs) |
Frasers L&C Tr |
BUOU |
3,789 |
0.9 |
0.9 |
-1.1 |
4.1 |
-0.4 |
-0.01% |
-12.2 |
-53.4 |
REITs |
Mapletree Ind Tr |
ME8U |
6,463 |
1.6 |
1.7 |
-1.1 |
4.1 |
1.4 |
0.02% |
-7.9 |
-39.8 |
REITs |
UOB |
U11 |
52,167 |
2.9 |
3.4 |
12.4 |
4.1 |
84.5 |
0.16% |
9.5 |
112.2 |
Financial Services |
DBS |
D05 |
97,784 |
4.7 |
4.2 |
78.0 |
3.9 |
20.3 |
0.02% |
14.9 |
-122.6 |
Financial Services |
Mapletree Log Tr |
M44U |
6,792 |
3.0 |
3.3 |
2.0 |
3.8 |
-10.3 |
-0.15% |
-20.7 |
-165.4 |
REITs |
Frasers Cpt Tr |
J69U |
3,941 |
1.3 |
0.5 |
-1.3 |
3.8 |
1.8 |
0.05% |
-1.7 |
0.5 |
REITs |
JMH USD |
J36 |
14,914 |
3.8 |
-3.0 |
-5.5 |
3.8 |
5.8 |
0.04% |
-0.2 |
44.9 |
Industrials |
UOL |
U14 |
4,891 |
3.0 |
1.0 |
-6.2 |
3.4 |
2.7 |
0.06% |
-7.8 |
-112.1 |
Real Estate (excl. REITs) |
OCBC Bank |
O39 |
63,678 |
2.8 |
2.4 |
18.6 |
3.4 |
14.6 |
0.02% |
8.8 |
168.7 |
Financial Services |
SGX |
S68 |
10,364 |
2.6 |
3.1 |
1.0 |
3.3 |
8.0 |
0.08% |
-3.9 |
-126.7 |
Financial Services |
SATS |
S58 |
3,712 |
2.2 |
1.1 |
-1.4 |
2.9 |
-1.9 |
-0.05% |
-9.5 |
-28.4 |
Industrials |
Venture |
V03 |
4,189 |
1.5 |
2.0 |
7.7 |
2.8 |
0.0 |
0.00% |
6.1 |
63.4 |
Technology |
CapLand Ascendas REIT |
A17U |
11,555 |
2.4 |
1.5 |
4.2 |
2.7 |
-10.2 |
-0.09% |
-10.8 |
-77.2 |
REITs |
ST Engineering |
S63 |
12,635 |
2.6 |
3.2 |
15.3 |
2.5 |
1.3 |
0.01% |
4.1 |
49.1 |
Industrials |
Wilmar Intl |
F34 |
21,725 |
2.6 |
1.9 |
-3.7 |
2.4 |
-11.2 |
-0.05% |
-2.5 |
-5.6 |
Consumer Non-Cyclicals |
YZJ Shipbldg SGD |
BS6 |
7,032 |
1.4 |
4.3 |
3.4 |
2.3 |
39.0 |
0.55% |
19.5 |
125.9 |
Industrials |
Sembcorp Ind |
U96 |
9,697 |
3.7 |
4.0 |
-9.2 |
2.3 |
1.2 |
0.01% |
2.4 |
17.2 |
Utilities |
Genting Sing |
G13 |
11,348 |
2.6 |
2.0 |
2.0 |
2.2 |
4.2 |
0.04% |
-6.0 |
0.6 |
Consumer Cyclicals |
Singtel |
Z74 |
39,608 |
1.6 |
2.1 |
-0.5 |
2.1 |
-3.6 |
-0.01% |
-2.8 |
-10.8 |
Telecommunications |
Keppel |
BN4 |
12,618 |
2.2 |
2.7 |
19.1 |
2.0 |
-8.3 |
-0.07% |
0.6 |
81.8 |
Industrials |
Thai Bev |
Y92 |
12,061 |
4.0 |
2.0 |
0.3 |
1.1 |
7.1 |
0.06% |
-5.5 |
43.2 |
Consumer Non-Cyclicals |
Jardine C&C |
C07 |
10,426 |
4.2 |
-2.2 |
-5.9 |
-0.5 |
-8.1 |
-0.08% |
-11.4 |
-49.7 |
Consumer Cyclicals |
Average/Total |
|
498,333 |
3.2 |
2.1 |
140.4 |
4.0 |
202.1 |
|
-4.3 |
-659.9 |
|
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Chart | Stock Name | Last | Change | Volume |
---|
2024-12-02
CapLand Ascendas REIT2024-12-02
CapLand IntCom T2024-12-02
CapLand IntCom T2024-12-02
CapitaLandInvest2024-12-02
CapitaLandInvest2024-12-02
DBS2024-12-02
Frasers L&C Tr2024-12-02
HongkongLand USD2024-12-02
HongkongLand USD2024-12-02
JMH USD2024-12-02
Keppel Corp2024-12-02
Mapletree Ind Tr2024-12-02
Mapletree PanAsia Com Tr2024-12-02
OCBC Bank2024-12-02
SGX2024-12-02
Sembcorp Ind2024-12-02
Singtel2024-12-02
ThaiBev2024-12-02
UOB2024-12-02
Wilmar IntlCreated by SGX | Dec 02, 2024
Created by SGX | Nov 18, 2024
Created by SGX | Nov 18, 2024