• In 3Q24, retail investors net sold S$955 million shares of Singapore-listed stocks, with the bulk of the net outflow booked in September. The STI generated an 10% total return in 3Q24, with the iEdge SG Manufacturing Index and iEdge S-REIT Index in tandem generating respective total returns at 14% and 17%.  
   
• The 10 Singapore stocks that booked the most net retail outflow in 3Q24, averaged 17% gains for the quarter, bringing their average nine month total returns to 19%. Meanwhile, the 10 stocks that booked the most net retail inflow in September averaged just 2% gains for 3Q24, in addition to 2% total returns for the nine months. 
   
• The five stocks most net sold by retail in 3Q24 included Singtel (-S$616M), SGX (-S$256M), SATS (-S$122M), UOB (-S$117M) and Suntec REIT (-S$82M), while the five stocks most net bought by retail in 3Q24 included, YZJ Shipbuilding (+S$243M), SIA (+S$228M), Keppel (+$S113M), Genting (+S$64M) and UMS (+S$34M).
   

Retail investors net sold S$955 million of Singapore-listed stocks in 3Q24, while ASEAN benchmarks outpaced regional peers on the back of 2Q24 growth prints and currency appreciations. The local net retail selling was comprised of net outflow of S$19 million in July, a contrasting S$603 million of net retail inflow in August, then as much as S$1.5 billion of net outflow in September. This brought the net retail inflow to the local stock market for the first nine months of 2024 to S$121 million. The STI also reached new 17 years highs in September, with the post 2007 high now at 3,652.62. 

During 3Q24, the STI generated a 9.9% total return, bringing its nine month total return to 16.1%. This compared to 3Q24 and nine month total returns of 11.9% and 13.5% for the FTSE ASEAN All-Share Index, 5.0% and 17.0% for the FTSE APAC Ex-Japan Index and 4.0% and 15.3% for the FTSE Asia Pacific Index. 

The 10 local stocks that booked the most net retail outflow in 3Q24 are tabled below.

All Data as of 30 Sep 2024, Source: SGX & Refinitiv. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, NRF refers to Net Retail Flow. 

In the table above, SATS net retail inflow was highest when proportioning the net outflow (S$122 million) to quarter end market capitalisation (S$5.4 billion) at 2.3%. SATS also generated a 27% total return in 3Q24 contributing the bulk of its nine month gains. On 20 Aug, SATS also highlighted a strong start to its FY25, with a 1QFY25 PATMI of S$65.0 million, a turnaround of the S$29.9 million loss in 1QFY24,  primarily due to increased business volumes, which provided scale leverage, and follow the completion of the WFS acquisition. 

The 10 local stocks that booked the most net retail inflow in 3Q24 are tabled below.  By contrast the stocks tabled averaged 2% total returns in 3Q24, as compared to the 10 stocks in the above table that averaged 17% returns for the quarter. 

All Data as of 30 Sep 2024, Source: SGX & Refinitiv. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, NRF refers to Net Retail Flow. 

All Data as of 30 Sep 2024, Source: SGX & Refinitiv. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, NRF refers to Net Retail Flow. 

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