Institutional Money Is Starting to Rotate Back Into Singapore Stocks

Institutional investors recorded aggregate net outflow of S$336.07 million across Singapore-listed stocks over the four weeks from the open on 31 August to the close on 25 September.

Net institutional buying of S$104.42 million and S$13.00 million in the first two weekly periods was followed by net selling of S$292.39 million and S$161.10 million over the subsequent two weeks. The table below highlights selected stocks where institutional activity bucked this broader trend, reversing from aggregate net selling over 31 August to 11 September to net buying in both weeks from 14 to 25 September.

Note: NIF means net institutional flow. The table identifies stocks where combined NIF was negative in the preceding two weeks (31 Aug–11 Sep) but positive in each of the two recent weeks (14–18 Sep and 21–25 Sep), indicating a shift from net selling to net buying. Stocks are ranked by NIF Recent 2W, the sum of the two recent weekly flows. NIF Sep Total is the sum of all four weekly periods. All figures are in S$ millions and may differ slightly from displayed sums due to rounding.
 

The 10 stocks tabled above showed an improvement in institutional participation in the second half of September, against a broader shift from net institutional buying in early September to net selling over the subsequent two weeks.

Within this group, $YZJ Shipbldg SGD(BS6.SI)$ recorded the largest reversal, with S$73.78 million of net institutional buying over 14–25 September following S$1.97 million of net selling over 31 August–11 September. $UIBREIT(UIBU.SI)$ recorded S$17.23 million of recent two-week net buying, while $Sembcorp Ind(U96.SI)$ recorded S$13.19 million.

An additional 25 stocks recorded institutional inflow reversals into late September, but with smaller aggregate net buying over 14–25 September than the 10 names highlighted above. $SingaporeLandGrp(U06.SI)$ recorded the next largest reversal at S$1.24 million, followed by $SIA Engineering(S59.SI)$ at S$1.22 million. Recent two-week net buying amounted to S$0.54 million for $Stamford Land(H07.SI)$ , S$0.28 million for $Reclaims Global(NEX.SI)$ , S$0.27 million for $Eneco Energy^(R14.SI)$ and S$0.23 million for $IHH(Q0F.SI)$ . 

Overall, 35 stocks recorded aggregate institutional net selling over 31 August–11 September followed by net buying in both weeks from 14–25 September, with the 10 names highlighted above recording the largest recent inflows.

For $Sembcorp Ind(U96.SI)$ , $Sheng Siong(OV8.SI)$ , $ISDN(I07.SI)$ and $Mapletree PanAsia Com Tr(N2IU.SI)$ , the recent institutional buying represented only a partial reversal of the preceding two-week outflows. Sembcorp Industries, for instance, recorded S$13.19 million of net institutional buying over 14–25 September, compared with S$135.49 million of net selling over 31 August–11 September, and remained in net outflow by S$122.30 million for September and S$234.04 million on a calendar year-to-date basis.

$YZJ Shipbldg SGD(BS6.SI)$ , $Golden Agri-Res(E5H.SI)$ and $IX Biopharma(42C.SI)$ combined a recent reversal with positive institutional flows for both September and the calendar year to date. In contrast, the REITs highlighted in the table recorded improved near-term institutional participation but remained in net calendar year-to-date outflow.

The late-September buying marked a change in direction, but not necessarily a sustained reversal. Earlier outflows and calendar year-to-date positioning remain the stronger test of whether institutional participation has materially improved.

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