In the first quarter of 2023, the average total return of the 100 most actively traded stocks in Singapore was 3%, which was essentially the same as the total return of 0.8% for the Straits Times Index (STI), 0.3% for the FTSE ASEAN All Share Index, and 3.8% for the FTSE Asia Pacific Index. Among the 100 most actively traded stocks in the first quarter of 2023, the top 10 stocks with the highest ratio of institutional net inflows to market cap achieved an average total return of 19% for the quarter.
The institutional net inflows and outflows of STI component stocks are proportionate to their respective market caps. Sembcorp Industries, Genting Singapore, and Keppel DC REIT had the highest ratio of institutional net inflows to market cap in the first quarter of 2023. Keppel Corp was one of the top four performing stocks in this quarter, along with 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, sustained inflationary pressure, tense geopolitical situations, and mild global financial stability fluctuations in March. While these drivers were dominant early in the year, their impact on sectors and stocks gradually diminished during the quarter. The Organization for Economic Cooperation and Development recently pointed out that thanks to China's recovery and milder inflationary pressure, the impact of the global economic slowdown on Asian emerging market economies may lessen.
The 100 most active stocks in Singapore trading in the first quarter of 2023...