The Singapore stock market steadily developed in the first quarter of 2023.

The average total return of the 100 most active stocks traded in Singapore in the first quarter of 2023 was 3%, which was similar to the total returns of the Straits Times Index (STI) at 0.8%, the FTSE ASEAN All-Share Index at 0.3%, and the FTSE Asia Pacific Index at 3.8% for the quarter. Among the 10 stocks with the highest ratio of institutional net inflows to market capitalization in the first quarter of 2023 among the top 100 most active stocks traded, the average total return for the quarter was 19%.

The institutional net inflows and outflows of STI component stocks were proportionate to their respective market capitalization. Sembcorp Industries, Genting Singapore, and Keppel DC REIT had the highest ratio of institutional net inflows to market capitalization in the first quarter of 2023. Keppel Corp was one of the top four best performing stocks this quarter, along with the other three being Sembcorp Industries, Genting Singapore, and Keppel DC REIT.

The quarter also saw the development of five major market driving factors, including rising global interest rates, slowing economic growth, persistent inflation pressure, tense geopolitical situations, and slight global financial stability fluctuations in March. Despite these factors dominating the early part of the year, their impact on sectors and stocks gradually subsided during the quarter. The Organisation for Economic Co-operation and Development recently pointed out that the impact of the global economic slowdown on emerging economies in Asia may lessen due to China's recovery and more moderate inflation pressures.

The total daily trading volume of the 100 most active stocks traded in Singapore in the first quarter of 2023 amounted to 1.1 billion Singapore dollars. Institutional net inflows were recorded in cyclical consumer goods, utilities, non-cyclical consumer goods, technology, medical care, and energy sectors in the first quarter of 2023. Stocks that led the institutional net inflows in the cyclical consumer goods sector this quarter included Genting Singapore, Golden Agri-Resources, Sheng Siong Group, Dairy Farm International, and Nio Inc. Additionally, there were The Hour Glass and Zhongmin Baihui Retail Group, but these two stocks were not among the top 100 most actively traded stocks of the quarter.

The above-mentioned 100 stocks include four stocks listed on Catalist - Jiutian Chemical, Pollux Properties, Medtecs Intl, and AsiaMalls Group. Stocks that were not among the 100 most actively traded stocks in 2022 but entered this list in 2023 include Huationg Global, Thomson Medical, China Aviation Oil, TJ Darentang US, Sembcorp Ind, Food Empire, Da Hui, Pollux Properties, Cosco Ship Intl (Singapore), and Medtecs Intl.