Keppel Corp, Jardine C&C and CapitaLand Invest Led STI in April

$FTSE Singapore Straits Time Index(.STI.SG)$ had a total return of 1.3% in April and 2.1% for the first four months of the year, placing it as the precise mid-point between the total returns of the FTSE Asia Pacific Index at 3.3% and FTSE ASEAN All-Share Index at 0.8%. $Keppel(BN4.SG)$, $Jardine C&C(C07.SG)$ and $CapitaLandInvest(9CI.SG)$ led the STI in April, averaging 9.0% total returns, bringing their 4-month total returns to 34.3%, 18.5% and 5.4% respectively.

The S-REIT Sector as gauged by the iEdge S-REIT Index marginally outpaced global REITs. At the same time, the trio of Singapore Banks, $DBS Group Holdings(D05.SG)$, $OCBC Bank(O39.SG)$ and $UOB(U11.SG)$ have also marginally outpaced global peers over the past four months, averaging a 0.9% decline in total return, compared to the 4% decline for the 7-stock Dow Jones Large Cap Bank Index and 18% decline for the 95-stock S&P 500 Select Industry Index.

From a technology sector perspective, the FTSE All-World Index, which has a 23% stake in the technology sector, had a total return of 8.5% for the first four months of 2023. By comparison, Singapore’s three most traded technology stocks, $Venture(V03.SG)$, $UMS(558.SG)$ $AEM SGD(AWX.SG)$ generated respective total return of 19%, 41% and 79% from the end of 2019 through to 28 April 2023.

$Keppel(BN4.SG)$, $Jardine C&C(C07.SG)$ and $CapitaLandInvest(9CI.SG)$  led the STI in April, averaging 9.0% total returns, bringing their 4-month total returns to 34.3%, 18.5% and 5.4% respectively. Stocks that led the STI decliners in April included $SATS(S58.SG)$, $CityDev(C09.SG)$ and $Wilmar Intl(F34.SG)$, which averaged 6.2% declines.

On 20 April, $Keppel(BN4.SG)$ updated its 1Q23 Group’s revenue came to S$2.25 billion, up 9% YoY with the Energy & Environment (S$1.64 billion), Urban Development (S$244 million) and Connectivity (S$326 million) segments reporting higher contributions. Keppel’s renewable energy portfolio has grown to about 2.8 GW as at end-March 2023, up from 2.6 GW at the end of 2022. As highlighted by the Group, over the 15-month period from January 2022 to end-March 2023, including the completion of the O&M transactions and the distribution in specie of Seatrium shares, Keppel Corporation’s  total return reached 77.7%, more than eight times STI’s 9.2%.