SGX Market Updates

Mid-July Market Movers: Stocks With the Highest Net Institutional Inflows

SGX
Publish date: Tue, 16 Jul 2024, 05:00 PM
  • The STI rallied 5.0% in the first half of July, with the broader Singapore stock market booking over S$400 million in net institutional inflow. Half of the top 30 stocks with the highest net institutional inflow were non-STI stocks. By comparison the FTSE ASEAN Index and FTSE APAC Index returned 3.5% and 3.1% in SGD terms over the 11 sessions. 
     
  • Among the STI constituents, DBS led the net institutional inflow over the 11 sessions, with inflow of S$118 million, reversing S$28 million of net institutional outflow in 1H24. The 10 July session also saw the largest trading turnover for the stock since the MSCI Singapore Index rebalance on 31 May 2023. 
     
  • ARA US Hospitality Trust led the net institutional inflow into non-STI stocks with inflow of S$46.1 million. This followed Acrophyte Limited's acquisition of a significant stake in the trust. There were also another five stocks of the S-REIT sector that so ranked among the 30 stocks with the highest net institutional inflow over the 11 sessions. 
     

The STI rallied 5.0% in the first half of July, with the broader Singapore stock market booking S$418 million of net institutional inflow reversing more than a third of the net institutional outflow booked in 1H24. The jolt in performance and flows over the past 11 sessions was on the back of increased expectations for of a smooth landing for the US economy in 2H24. Yesterday the STI formed its highest levels in 6 years at 3,509.20. Other key historical highs include the 3,640s reached in May 2018 and 3,906 attained in October 2007. 

For the 30 Singapore-listed stocks that booked the highest net institutional inflow over the 11 sessions, half the stocks were non-STI stocks. 

ARA US Hospitality Trust led the non-STI contingent for net institutional inflow over the past 11 sessions. The stapled hospitality trust booked S$46 million in net institutional inflow over the period. Last week, Acrophyte Limited completed the acquisition of a 19.0 per cent stapled security interest in ARA US Hospitality Trust, increasing the stapled security holdings owned by the Tang Group in ARA US Hospitality Trust to 28.3%. Acrophyte is a multinational conglomerate with expertise spanning the entire real estate spectrum and the hospitality sector. The company operates and invests in hospitality assets in various locations, boasting a proven track record in both operations and investments. The stapled trust will report its 1HFY24 results on 7 August.

For the contingent of STI constituents that ranked among the 30 stocks with highest net institutional inflow over the 11 sessions, DBS Group Holdings booked the highest net institutional inflow of S$118 million. This reversed the S$28 million of net institutional outflow from the stock in 1H24. Over the past 11 sessions, DBS saw its biggest session by trading turnover on 10 July, following Macquarie Research upgrading its share price target for the stock on July, from S$38.30 to S$41.00 (read here for takeaways).  DBS reports its 1HFY24 financials on 8 August. Its 1QFY24 saw a new high in quarterly total income at S$5.56 billion, and ROE of 19.4%. Its 1QFY24 commercial book net interest income grew 8% YoY, lifted by a higher net interest margin (NIM) which rose 8bps YoY points to 2.77%, from higher interest rates, while loans grew 1%. Note for 2QFY24, the commercial book NIM had a comparatively higher base in 2QFY23, at 2.81%. DBS’ wealth management income in 1QFY24 increased 47% from S$365 million in 1QFY23 to S$536 million in 1QFY24, with the Citi Taiwan acquisition accounting for 12 percentage points of the growth. By comparison, wealth management income amounted to S$377 million in 2QFY23.

The 30 Singapore-listed stocks that booked the highest net institutional inflow over the 11 sessions are tabled below. 

30 stocks with the highest net institutional inflow for 1-15 JulyCodeMkt Cap S$M1-15 July NIF S$M1-15 July TR%YTD NIF S$M YTD TR%P/E (x)P/B (x)5-year P/B (x)Sector
DBSD05107,792117.5689.629111.71.4Financial Services
SingtelZ7449,705116.79333.422632.01.5Telecommunications
UOBU1155,15796.85495.519101.21.1Financial Services
OCBC BankO3968,90074.96298.222101.31.0Financial Services
SATSS584,99347.91781.821882.12.5Industrials
ARA HTrust USDXZL22646.1344.74N/A0.40.6REITs
YZJ Shipbldg SGDBS69,08624.3-7196.460122.30.9Industrials
VentureV034,34017.8582.714161.51.9Technology
Great EasternG0712,21217.0155.150161.51.1Financial Services
ST EngineeringS6313,62913.41134.915235.55.1Industrials
Mapletree PanAsia Com TrN2IU6,99212.19-169.7-12120.71.1REITs
Seatrium Ltd5E25,00710.47-259.9-38N/A0.80.8Industrials
CapLand IntCom TrustC38U14,0759.56-30.64161.01.0REITs
SGXS6810,4199.33-43.01196.17.5Financial Services
Suntec REITT82U3,3808.710-13.6-3200.50.7REITs
CityDevC094,9148.77-216.0-16160.50.7Real Estate (excl. REITs)
Keppel DC REITAJBU3,3608.38-41.93281.51.8REITs
NanofilmMZH6185.528-14.841941.65.4Technology
Dyna-MacNO45335.52323.655217.64.3Energy/ Oil & Gas
ComfortDelGroC523,0114.9458.12171.21.3Industrials
ThaiBevY9212,1874.2840.8-3121.62.6Consumer Non-Cyclicals
IFASTAIY2,2624.2510.8-7588.49.0Technology
CSE Global5443193.915-4.711131.31.3Technology
Golden Agri-ResE5H3,4243.50-31.56130.50.5Consumer Non-Cyclicals
Yoma StrategicZ592903.054.379120.40.5Real Estate (excl. REITs)
AIMS APAC REITO5RU1,0702.46-2.25240.70.8REITs
YZJ Fin HldgYF81,2121.9-110.21360.30.3Financial Services
FrenckenE287091.8223.525221.81.5Technology
SIA EngineeringS592,7531.661.03281.61.6Industrials
UOLU144,5961.35-119.9-1060.40.6Real Estate (excl. REITs)

Note NIF refers to Net Institutional Inflow, TR refers to Total Return.
All Data as of 15 July 2024
Source: SGX, Refinitiv, Bloomberg.

 

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