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, 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 (Holdings) and City Developments booked the highest proportionate net institutional outflow. Yangzijiang Shipbuilding (Holdings) 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. 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.
The quarter also saw developments across the five 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$1.61 billion in net institutional outflow. As many stocks that booked net institutional outflow in 1Q23, booked net institutional inflow. This saw the Consumer Cyclical, Utilities, Consumer Non-Cyclicals, Technology, Healthcare and Energy Sectors book net institutional inflow in 1Q23, while Financial Services, Telecommunications, REITs, Industrials, Real Estate (excl. REITs) and Materials & Resources booked net institutional outflow. Stocks that led the net institutional inflow to the Consumer Cyclical Sector in 1Q23 included Genting Singapore, Best World International, Halcyon Agri, Parkson Retail^ and NIO Inc, in addition to The Hour Glass and Zhongmin Baihui Retail Group, with the latter two stocks ranking outside the 100 most traded stocks by turnover in 1Q23.
Among the 100 most traded stocks in 1Q23, the 10 that booked the highest net institutional inflow proportionate to quarter-end market capitalisation averaged 19% total returns in 1Q23, compared to a 13% decline for the 10 stocks that booked the highest net institutional outflow proportionate to quarter-end market capitalisation. This stocks are tabled below.
Actively-traded stocks that booked the highest net institutional inflow proportionate to quarter-end mkt cap |
Code |
Mkt Cap S$M |
1Q23 Net Insti. Flow S$M |
1Q23 Net Insti. Flow / Mkt Cap |
1Q23 Total Return % |
2022 Total Return % |
Sector |
Boustead Proj* |
AVM |
299 |
10.5 |
3.5% |
16 |
-17 |
Industrials |
Acesian Partners |
5FW |
30 |
0.9 |
3.2% |
48 |
162 |
Industrials |
Parkson Retail^ |
O9E |
55 |
1.3 |
2.4% |
0 |
645 |
Consumer Cyclicals |
Best World |
CGN |
1,070 |
25.3 |
2.4% |
38 |
37 |
Consumer Cyclicals |
ISDN |
I07 |
225 |
5.0 |
2.2% |
17 |
-38 |
Technology |
Frencken |
E28 |
483 |
7.8 |
1.6% |
20 |
-51 |
Technology |
YZJ Fin Hldg |
YF8 |
1,378 |
20.9 |
1.5% |
6 |
N/A |
Financial Services |
CapLand China T |
AU8U |
1,876 |
25.8 |
1.4% |
3 |
-1 |
REITs |
Sembcorp Ind |
U96 |
7,793 |
104.4 |
1.3% |
30 |
73 |
Utilities |
Genting Sing |
G13 |
13,521 |
171.2 |
1.3% |
17 |
26 |
Consumer Cyclicals |
Actively-traded stocks that booked the highest net institutional outflow proportionate to quarter-end mkt cap |
Code |
Mkt Cap S$M |
1Q23 Net Insti. Flow S$M |
1Q23 Net Insti. Flow / Mkt Cap |
1Q23 Total Return % |
2022 Total Return % |
Sector |
The Place Hldg |
E27 |
41 |
-6.4 |
-15.7% |
-68 |
-72 |
Financial Services |
Rex Intl |
5WH |
203 |
-5.1 |
-2.5% |
-27 |
-28 |
Energy/ Oil & Gas |
Prime US REIT USD |
OXMU |
505 |
-12.3 |
-2.4% |
-16 |
-47 |
REITs |
Suntec REIT |
T82U |
4,128 |
-99.4 |
-2.4% |
5 |
-3 |
REITs |
Keppel Corp |
BN4 |
10,025 |
-207.0 |
-2.1% |
19 |
49 |
Industrials |
Jiutian Chemical |
C8R |
145 |
-2.7 |
-1.8% |
-10 |
16 |
Materials & Resources |
Manulife REIT USD |
BTOU |
509 |
-9.1 |
-1.8% |
-23 |
-53 |
REITs |
ComfortDelGro |
C52 |
2,556 |
-45.6 |
-1.8% |
-4 |
-8 |
Industrials |
Geo Energy Res |
RE4 |
461 |
-7.8 |
-1.7% |
2 |
20 |
Energy/ Oil & Gas |
YZJ Shipbldg SGD |
BS6 |
4,741 |
-80.3 |
-1.7% |
-12 |
107 |
Industrials |
Source: SGX, Refinitiv, Bloomberg (Data as of 31 March 2023). Note ^ on SGX Watchlist. Fund Flows takes account of trades in the ‘Buying-in Market’ and ‘Unit Share Market’.
*Note Boustead Projects requested mandatory suspension on 28 March, following number of shares in public hands as of 17 March falling below the 10% threshold.
The 100 stocks included four Catalist-listed stocks - Jiutian Chemical Group, Pollux Properties, Medtecs International and Acesian Partners. Stocks that moved from outside the 100 traded stocks in 2022, to within the 100 most traded in 1Q23 included Halcyon Agri, Thomson Medical Group, China Aviation Oil (S) Corporation, Tianjin Pharmaceutical Da Ren Tang Group Corp, Sabana Industrial REIT, Food Empire Holdings, Delfi, Pollux Properties, Cosco Shipping International (Singapore) Co, and Medtecs International Corporation.
The 100 most traded SGX-listed stocks in 1Q23, sort by highest trading turnover are tabled below.
100 most traded Singapore listed Stocks in 1Q23 |
Code |
Mkt Cap S$M |
1Q23 Avg Daily T/O S$M |
1Q23 Net Insti. Flow S$M |
1Q23 Net Retail Flow S$M |
1Q23 Px Chg % |
1Q23 Total Return % |
Last week of March Avg. 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 Bank |
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 |
CapLand IntCom T |
C38U |
13,164 |
43.4 |
-106.0 |
49.4 |
-3 |
0 |
51.4 |
REITs |
YZJ Shipbldg SGD |
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 Sing |
G13 |
13,521 |
33.7 |
171.2 |
-195.7 |
17 |
17 |
91.8 |
Consumer Cyclicals |
Keppel Corp |
BN4 |
10,025 |
31.4 |
-207.0 |
203.2 |
19 |
19 |
18.2 |
Industrials |
CapLand Ascendas REIT |
A17U |
12,023 |
31.1 |
-14.3 |
-24.3 |
4 |
7 |
35.4 |
REITs |
CapitaLand Invest |
9CI |
18,848 |
26.1 |
15.6 |
-34.3 |
-1 |
-1 |
27.7 |
Financial Services |
Mapletree Log Tr |
M44U |
8,235 |
25.2 |
-5.1 |
-23.8 |
8 |
9 |
58.7 |
REITs |
Wilmar Intl |
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 PanAsia Com Tr |
N2IU |
9,431 |
19.1 |
1.3 |
-4.4 |
8 |
9 |
55.9 |
REITs |
JMH USD |
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 |
ThaiBev |
Y92 |
15,829 |
15.8 |
18.9 |
-19.0 |
-8 |
-6 |
77.6 |
Consumer Non-Cyclicals |
Sembcorp Ind |
U96 |
7,793 |
15.4 |
104.4 |
-97.8 |
30 |
30 |
23.5 |
Utilities |
Jardine C&C |
C07 |
12,363 |
14.9 |
-5.0 |
-20.7 |
9 |
9 |
9.5 |
Consumer Cyclicals |
CityDev |
C09 |
6,684 |
14.2 |
-87.8 |
69.0 |
-10 |
-10 |
14.2 |
Real Estate (excl. REITs) |
Frasers L&C Tr |
BUOU |
4,870 |
13.9 |
3.7 |
-1.9 |
13 |
13 |
78.0 |
REITs |
Venture |
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 Ind Tr |
ME8U |
6,492 |
11.4 |
-3.6 |
10.6 |
7 |
8 |
42.7 |
REITs |
HongkongLand USD |
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 |
U14 |
5,853 |
6.5 |
8.8 |
-6.3 |
3 |
3 |
16.8 |
Real Estate (excl. REITs) |
CapLand Ascott T |
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-Res |
E5H |
3,614 |
6.0 |
37.1 |
-20.0 |
14 |
14 |
174.5 |
Consumer Non-Cyclicals |
AEM SGD |
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 Cpt Tr |
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 |
YZJ Fin Hldg |
YF8 |
1,378 |
4.7 |
20.9 |
-17.8 |
6 |
6 |
134.8 |
Financial Services |
Olam Group |
VC2 |
6,026 |
4.3 |
-0.7 |
2.2 |
8 |
8 |
69.7 |
Consumer Non-Cyclicals |
CapLand China T |
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 NBN Tr |
CJLU |
3,351 |
2.8 |
-10.4 |
9.0 |
4 |
4 |
59.5 |
Telecommunications |
NIO Inc. USD OV |
NIO |
20,571 |
2.8 |
1.3 |
10.5 |
0 |
0 |
29.4 |
Consumer Cyclicals |
Golden Energy |
AUE |
2,612 |
2.6 |
19.3 |
-18.1 |
26 |
26 |
57.9 |
Energy/ Oil & Gas |
DFIRG USD |
D01 |
5,467 |
2.6 |
18.2 |
-19.1 |
3 |
4 |
37.8 |
Consumer Non-Cyclicals |
Keppel Infra Tr |
A7RU |
2,621 |
2.5 |
-3.7 |
8.1 |
-3 |
1 |
93.9 |
Utilities |
CapLand India T |
CY6U |
1,270 |
2.5 |
-13.5 |
14.2 |
-4 |
0 |
92.9 |
REITs |
DigiCore REIT USD |
DCRU |
666 |
2.1 |
-9.2 |
7.6 |
-19 |
-17 |
115.5 |
REITs |
CDL HTrust |
J85 |
1,474 |
2.0 |
0.2 |
-1.6 |
-5 |
-2 |
85.9 |
REITs |
Geo Energy Res |
RE4 |
461 |
1.8 |
-7.8 |
7.1 |
2 |
2 |
157.5 |
Energy/ Oil & Gas |
ParkwayLife REIT |
C2PU |
2,414 |
1.7 |
1.5 |
0.6 |
6 |
8 |
31.4 |
REITs |
HPH Trust USD |
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 |
ManulifeREIT USD |
BTOU |
509 |
1.5 |
-9.1 |
9.2 |
-29 |
-23 |
229.7 |
REITs |
Rex Intl |
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 |
PARAGONREIT |
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 REITUSD |
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 Land |
Z25 |
1,758 |
1.1 |
-1.1 |
1.6 |
-11 |
-11 |
59.0 |
Real Estate (excl. REITs) |
China Aviation |
G92 |
843 |
1.0 |
5.2 |
-4.6 |
10 |
10 |
61.5 |
Industrials |
TJ DaRenTang USD |
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^ |
O9E |
55 |
0.9 |
1.3 |
-1.0 |
0 |
0 |
131.5 |
Consumer Cyclicals |
Far East HTrust |
Q5T |
1,165 |
0.9 |
-0.8 |
-0.2 |
-6 |
-3 |
84.8 |
REITs |
Emperador Inc. |
EMI |
7,947 |
0.9 |
0.6 |
-0.4 |
-1 |
-1 |
98.9 |
Consumer Non-Cyclicals |
StarhillGbl REIT |
P40U |
1,171 |
0.8 |
0.5 |
-0.3 |
-4 |
-1 |
95.9 |
REITs |
Boustead Proj |
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 EUR |
CWBU |
1,223 |
0.7 |
-4.4 |
4.0 |
1 |
6 |
76.1 |
REITs |
KepPacOakREITUSD |
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 Hldg |
E27 |
41 |
0.6 |
-6.4 |
6.5 |
-68 |
-68 |
1,341.2 |
Financial Services |
Pollux Prop |
5AE |
132 |
0.6 |
-0.1 |
0.0 |
9 |
9 |
214.5 |
Real Estate (excl. REITs) |
COSCO SHP SG |
F83 |
367 |
0.6 |
-1.5 |
1.5 |
-8 |
-8 |
68.0 |
Industrials |
Medtecs Intl |
546 |
70 |
0.6 |
-0.8 |
0.7 |
-36 |
-36 |
91.9 |
Healthcare |
Marco Polo 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 ^ on SGX Watchlist. Fund Flows takes account of trades in the ‘Buying-in Market’ and ‘Unit Share Market’.
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