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 100 most active stocks in Singapore trading in the first quarter of 2023...