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

The average total return of the 100 most actively traded stocks in Singapore in the first quarter of 2023 was 3%, which is basically the same as the total return of 0.8% in the Straits Times Index (STI), the total return of 0.3% in the FTSE ASEAN All Stock Index, and the total return of 3.8% in the FTSE Asia Pacific Index. Among the 100 most actively traded stocks in the first quarter of 2023, the 10 stocks with the highest ratio of net institutional inflows to market capitalization at the end of the quarter had an average total return of 19% in that quarter.

The net institutional inflows and outflows of the Haitian Index constituent stocks are also proportional to their respective market capitalizations. Among them, Sembcorp Industries, Genting Singapore, and Keppel Data Center Real Estate Trust had the highest ratio of net institutional inflows to market value in the first quarter of 2023. Keppel Corporation was one of the four strongest performing stocks this quarter. The other three were Sembco Industries, Genting Singapore, and Keppel Data Center Real Estate Trust.

The quarter also experienced the development of five major market drivers, including rising global interest rates, slowing economic growth, continued inflationary pressure, geopolitical tension, and slight fluctuations in global financial stability in March. Although these drivers dominated at the beginning of the year, their impact on the sector and stocks was slowly fading during the quarter. The Organization for Economic Cooperation and Development recently pointed out that thanks to China's recovery and more moderate inflationary pressure, Asian emerging market economies may be less affected by the global economic slowdown.

The average daily turnover of the 100 most actively traded stocks in Singapore in the first quarter of 2023 totaled S$1.1 billion. The cyclical consumer goods, utilities, non-cyclical consumer goods, technology, healthcare and energy sectors recorded net institutional inflows in the first quarter of 2023. The stocks that led net inflows from institutions in the cyclical consumer goods sector during the quarter included Genting Singapore, National World, Hesheng Agriculture, Baisheng Retail Group, and NIO Group. In addition, Ojiashi and Zhongmin Parkway Retail Group were also among the 100 most actively traded stocks in the quarter.

The 100 stocks mentioned above include four stocks listed on the Kelly Board — Jiutian Chemical, Pollux Properties, Meide Xiangbang Healthcare, and Ascend Group. In addition to the 100 most actively traded stocks in 2022, stocks that made it in 2023 include Hesheng Agriculture, Jelly, China Aviation Oil, Jinyao Da Rentang, Saxo Industrial Trust, Fuwangchao, Dahui, Pollux Properties, COSCO Shipping International (Singapore), and Meide Xiangbang Healthcare.