HKL, SingPost & Wee Hur Led Net Institutional Inflow & Gainers in October

SGX11-04

In Oct, the STI generated a 0.7% decline in total return, with the FTSE ASEAN All-Share Index declining 2.1% in total return and FTSE Asia Pacific Index declining 1.8%. The trio of STI Banks averaged ...

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The trio of STI Banks averaged ...</p>\n\n<a href=\"https://www.sgx.com/research-education/market-updates/20241104-hkl-singpost-wee-hur-led-net-institutional-inflow\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0762541174.USD","symbol_name":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","start_time":0,"source_url":"https://www.sgx.com/research-education/market-updates/20241104-hkl-singpost-wee-hur-led-net-institutional-inflow","article_id":"2480321163","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480321163","pubTimestamp":1730649600,"sourceInfo":{"source_id":"sgx_stock","name":"SGX"},"weMediaInfo":null,"summary":"In Oct, the STI generated a 0.7% decline in total return, with the FTSE ASEAN All-Share Index declining 2.1% in total return and FTSE Asia Pacific Index declining 1.8%. 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The trio of STI Banks averaged a 0.7% total return while the iEdge SG Adv Manufacturing Index declined 2.7% and the iEdge S-REIT Index declined 5.4%.Institutions net sold S$338 million in Singapore stocks during Oct, with REITs, Banks and Telecommunications leading the net outflow. Industrials and Consumer Non-Cyclicals led the net institutional inflow in Oct, with both Sectors having the most representation among the 20 stocks that booked the most net institutional inflow for the month.  Among the 20 stocks, Hongkong Land, SingPost, Wee Hur, DFI Retail and SATS generated the strongest total returns on the month, averaging 15.4% total returns. The 20 stocks that booked the most net institutional outflow on the month averaged 6.3% declines in total return, with Aztech Global and Frencken leading the declines. The STI traded within a narrow 90-point range in the month of Oct, generating a 0.7% decline and giving back one-sixth of the 4.2% total return generated in Sep. The trio of STI banks, which began the month making up 50% of the Index averaged a marginally defensive 0.7% total return on the month on S$158 million of net institutional outflow. This saw their combined Index weight increase to 51% at the end of Oct. DBS Group Holdings is expected to provide 3QFY24 results before the Thurs, 7 Nov open. A day later, before the Fri, 8 Nov open, Oversea-Chinese Banking Corporation will report 3QFY24 results, and United Overseas Bank will report a 3QFY24 update.  More broadly, institutions net sold S$338 million in Singapore stocks in Oct, while the overall Singapore market capitalisation declined 2% to S$839 billion, impacted by declines to stocks such as Singapore Telecommunications (Singtel), CapitaLand Investment and Singapore Airlines. Singtel also led the net institutional outflow in Oct with S$116 million of net outflow, reducing the net institutional inflow to the stock over the first 10 months of 2024 to S$743 million. At the same time, Singtel generated with a 10-month total return of 30%, ranking as the STI’s fifth strongest performer over the 10 months, while its Bloomberg 12M Consensus Estimate Target Price increased from S$3.08 to S$3.70. The FTSE ASEAN All-Share Index also declined 2.1% in SGD terms in Oct, with the Industrials Sector bucking the broad regional declines. The Industrials Sector in Singapore also booked the highest net institutional inflow in the Singapore stock market during the month, led by net inflows to SATS and Seatrium. In total, one quarter of the 20 Singapore stocks that booked the highest net institutional inflow for the month represented the Industrials Sector. These 20 stocks are tabled below. 20 Stocks that booked highest NIF in OctCodeMkt Cap S$MNIF S$M OctTR % OctNIF S$M 10M24TR % 10M24ADT S$M 10M24SectorSATSS585,865629.12014415.9IndustrialsSeatrium5E26,449516.7-140-1958.8IndustrialsSGXS6812,154380.12431921.0Financial ServicesHongkongLand USDH7812,5653321.0263311.5Real Estate (excl. REITs)Keppel DC REITAJBU3,951315.5212311.5REITsIFASTAIY2,235262.740-84.0TechnologyJardine C&CC0710,988250.7-27-118.1Consumer CyclicalsYZJ Shipbldg SGDBS610,193245.3268046.9IndustrialsBroadway IndB6989212.1191360.3TechnologyThaiBevY9213,31816-0.969616.2Consumer Non-CyclicalsDyna-MacNO4823134.8561015.4Energy/ Oil & GasDFIRG USDD014,252813.0-842.5Consumer Non-CyclicalsSheng SiongOV82,39163.9-2742.4Consumer Non-CyclicalsWee HurE3B386616.7131220.7IndustrialsGolden Agri-ResE5H3,67863.6-45143.5Consumer Non-CyclicalsSingPostS081,226517.210162.4IndustrialsYZJ Fin HldgYF81,40550.030322.4Financial ServicesCityDevC094,6464-3.7-244-2016.0Real Estate (excl. REITs)CenturionOU871036.3-81200.5Real Estate (excl. REITs)Genting SingG1310,0813-4.6-166-1225.8Consumer CyclicalsAll Data as of 31 Oct 2024. Source: SGX & Refinitiv. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, 10M24 refers to the first 10 months of 2024. Note the 20 stocks that booked the most net institutional outflow on the month averaged 6.3% declines in total return, with Aztech Global and Frencken leading the declines.As detailed in the table above, among the 20 stocks that booked the highest net institutional inflow in Oct, Hongkong Land, Singapore Post, Wee Hur Holdings, DFI Retail Group Holdings and SATS generated the strongest total returns on the month, averaging 15.4% total returns. Of the five stocks, Wee Hur maintains the highest ROE at 32.9%, and saw the highest returns over the first 10 months of 2024, yet at the same time maintains the lowest average daily turnover this year. Founded in 1980, Wee Hur Holdings activities span building construction, workers’ dormitories, property development, PBSA, fund management, leasing intangible assets, and engaging in venture capital, private credit, and private equity.The monthly moves and some of the recent announcements across the five stocks follows:Hongkong Land’s share price gained from US$3.67 at end of Sep, to US$3.89 on 29 Oct, then rallied on the last session of the month to US$4.31. This was on the back of the Group announcing a new strategic direction to become the leader in Asia’s gateway cities, focusing on ultra-premium integrated commercial properties. This includes ceasing build-to-sell investments, and recycling capital into new integrated commercial property opportunities, with the aim of doubling underlying profit, dividends per share, and growing assets under management to US$100 billion by 2035. The late Oct rally boosted Hongkong Land’s 10-month total return to see the stock rank as the fourth strongest STI performer over the 10 months. Singapore Post’s share price rallied from S$0.465 at end of Sep, to S$0.545 at end of Oct. Singapore Post maintained in Aug that it is focused on strategic initiatives to enhance shareholder value, exploring monetisation of non-core assets, and reviewing its Australia business with Merrill Lynch Markets Australia (first announced here), expecting to conclude by year-end. In Singapore, it is collaborating with the Government on a new postal services model and addressing global eCommerce logistics challenges while diversifying revenue streams. In Sep, the Group acknowledged Australian press articles about a potential sale and noted that the review by Merrill Lynch Markets Australia is ongoing. Singapore Post will report its 1HFY25 results (ending 30 Sep) before the Wed 6 Nov open.Wee Hur Holdings’ share price rallied from S$0.36 at end of Sep, to S$0.42 at end of Oct. Wee Hur Holdings noted on Oct 17 that it is in early-stage confidential discussions regarding its Australian student accommodation business, which may or may not lead to a transaction, following an article in The Australian Financial Review about Greystar acquiring GIC’s stake. Back on 8 Aug, Wee Hur reported its profit from continuing operations for 1HFY24 was S$75.07 million, a 488% increase of S$62.29 million from S$12.77 million in 1HFY23, primarily due to improved performance at Tuas View Dormitory and higher profits from investments in associates and joint ventures.DFI Retail Group Holdings’ share price rallied from US$2.17 at end of Sep, to US$2.38 at end of Oct. Back on 1 Aug, DFI Retail Group Holdings reported underlying Group profit attributable to shareholders of US$76 million, up from US$33 million in the prior year, with notable improvements in the Food, Convenience, and Health and Beauty segments and continued debt reduction. The Group also noted that with a streamlined organisation, enhanced local relevance, and a strong digital strategy, it is confident in delivering sustained growth and reiterates its 2024 profit guidance of US$180 million to US$220 million. On 31 Oct, the Group’s 89.3%-owned subsidiary, PT Hero Supermarket Tbk, updated that it had completed the divestment of its Hero Supermarket segment to PT Hero Retail Nusantara in Jun 2024, and has now pivoted its operations fully to Guardian and IKEA businesses in Indonesia. While DFI Retail Group Holdings is a STI constituent it has ranked outside the 10 strongest performing STI constituents over the first 10 months of 2024. SATS’ share price rallied from S$3.61 at end of Sep, to S$3.94 at end of Oct. SATS updated its US$3 billion multicurrency debt issuance programme, initially announced in Nov 2023, would include SATS and Worldwide Flight Services, Inc. as issuers alongside SATS Treasury Pte. Ltd. This update allows all three entities to issue notes under the programme, providing SATS with greater flexibility to access global debt markets, optimise borrowing costs, and support its long-term growth strategies. SATS will report its 1HFY25 results (ending 30 Sep) after the Thu 7 Nov close. SATS was also the second strongest performing STI stock over the first 10 months of 2024. Enjoying this read?Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.Stay up-to-date with our SGX Invest Telegram channel.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480321163"}