• The STI Index gained 0.2% in November, with dividends pushing total returns to 0.7%. The two exchange traded funds, which track the STI Index, saw record net inflows of S$26 million - the highest since September 2021.
   
• Technology stocks and REITs were among the top performers globally last month, averaging close to 11% and 9% in total returns respectively. Similar performance was seen in the Singapore context with Technology stocks receiving the most net institutional inflows at S$51.9 million.
   
• Following signals from the US Federal Reserve that rate hikes are likely over, the iEdge S-REIT Index saw its best month in three years, gaining 7.4% in total returns. All six S-REITs within the STI outperformed the broader STI Index, averaging 7.5% in total returns.
   
• ETFs with China Equities as underlying recorded its highest net inflows since February 2023 with S$10 million in net creation and was the second most active asset class with a turnover of S$47 million.
   

The STI Index ended November 2023 at 3,073 points, up 0.2% on the month and with dividends, pushing total returns to 0.7%. November’s performance lagged regional peers with the FTSE APAC Index gaining 5.3% in total returns over the month, led by KOPSI Index, TAIEX Index and NIKKEI 225 Index which gained 10.5% on average. Underperformers in the region were led by the HSI Index and CSI300 Index which averaged 2.2% declines in total return terms. While the STI Index lagged peers in November, the two exchange traded funds (ETFs), which track the STI Index, saw record net inflows of S$26 million - the highest since September 2021.

From a fund flow perspective, the broader Singapore market saw S$900 million of net institutional outflows, led by Financial Services (-S$649.1 million), Industrials (-S$119.9 million) and Telecommunications (-S$101.0 million). Retail investors continued to net buy into the market at S$491 million of net retail inflows. This was again led by Financial Services (+S$371.5 million), Telecommunications (+S$123.0 million) and Industrials (+S$79.3 million).

Technology and REITs were among the top performing sector globally last month, averaging close to 11% and 9% in total returns respectively. Similar performance was seen in the Singapore context. STI’s Technology representative – Venture Corporation - gained 7.1% over the month. For the broader market, Technology stocks received the most net institutional inflows at S$51.9 million.

The table below details the 10 stocks which received the most institutional net inflows in November.

Source: SGX, Bloomberg (Data as of 30 Nov 2023)

Following signals from the US Federal Reserve that rate hikes are likely over, the iEdge S-REIT Index saw its best month in three years, gaining 7.4% in total returns. The November rebound brought the iEdge S-REIT Index’s year-to-date decline from 9.0% as at end October, to 2.2% as at end November. All six S-REITs within the STI outperformed the broader STI Index, averaging 7.5% in total returns. The five REIT ETFs listed in Singapore also saw increased turnover in November 2023 at S$29.4 million, close to double the S$14.9 million turnover recorded in November 2022.

Driven by interest rate expectation and geopolitical tension, Gold saw strong gains in November and hit a record high in early December, reaching over US$2,100 an ounce. As a result, SGX-listed Gold ETF, the SPDR® Gold Shares ETF, remained the top traded ETF in November, with S$54 million in turnover. This was followed by the Lion-OCBC Securities Hang Seng TECH ETF at S$43.27 million in turnover.

ETFs with China Equities as underlying also recorded its highest net inflows since February 2023 with S$10 million in net creation and was the second most active asset class with a turnover of S$47 million. Find out more about SGX-listed China Equities ETFs here.

To cater to more investor demand into China Equities ETFs, the first pair of ETFs under the product link between SGX and Shanghai Stock Exchange (SSE) was launched on 1 Dec. Listed on SGX, the CSOP Huatai-PineBridge SSE Dividend ETF is based on the SSE Dividend Index and provides access to 50 large-cap and high-dividend paying companies on the SSE.

At the same time, the Huatai-PineBridge CSOP iEdge Southeast Asia+ TECH Index ETF was listed on SSE, allowing Chinese investors to tap the growth potential of tech sectors in Southeast Asia and India. On the back of onshore investors interest, its master ETF - CSOP iEdge Southeast Asia+ TECH index ETF that was listed on SGX in June this year recorded net inflows of S$46 million in month of November, bringing its total asset under management to S$65 million.

The table below details the 5 most traded SGX-listed ETFs in November.

Source: SGX, Bloomberg (Data as of 30 Nov 2023)

Enjoying this read?

• Subscribe now to the weekly SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.
• Stay up-to-date with our SGX Invest Telegram channel.