To The Moon

January has continued to see trading activity broaden, with two new listings lifting the number of Singapore stocks recording S$1.0 million in average daily turnover (ADT) to 100.

The two debutants were recent Catalist entrants, AI powered customer experience firm $Toku Ltd(TKU.SI)$ , and co-living startup The Assembly Place (TAP). The 100 stocks do not include $Low Keng Huat(F1E.SI)$ , which has also seen ADT rise to above S$1.0 million, while also booking S$27.2 million in net institutional inflow, coinciding with controlling shareholders on January 13 upping their offer price to S$0.78 per share, while extending the closing date.

The 100 stocks with S$1.0 million ADT over the first 18 trading sessions of January compare to 92 stocks booking S$1.0 million in ADT in 2025. The surge in investor participation in the latter half of 2025, also saw 96 stocks book S$1.0 million in ADT in 2H25 compared to 78 in 1H25, 77 in 2024 and 73 in 2023. 

The $Straits Times Index(STI.SI)$ has continued to add to 2025 gains, with the Bloomberg Consensus Estimate Target Price increasing 2.3% and the STI booking a 6.0% price gain through to the Jan 27 close to 4,923.02. This has coincided with Singapore entering 2026 with strong economic momentum, its GDP and NODX both growing 4.8% in 2025, and air travel hitting record highs for Singapore Airlines.  

The SBF’s National Business Survey 2025 maintained that even as confidence softens amid global uncertainties, local companies are accelerating overseas expansion, re-engineering processes, and diversifying supply chains. The survey also points to a shift toward commercial agility, with companies actively pursuing new opportunities and market growth despite rising costs and a more challenging operating environment.

The 15 stocks that have seen the largest ADT growth over the past 18 sessions compared to 2025 levels are tabled below. This includes the 11 stocks that have seen ADT move to above S$1 million ADT in January, from below S$1 million in both 2H25 and the full 2025 year.  

$EFH Ltd(8YY.SI)$ $Aoxin Q & M(1D4.SI)$ $Raffles Edu(NR7.SI)$ $Ley Choon(Q0X.SI)$ $PC Partner(PCT.SI)$ $IX Biopharma(42C.SI)$ $GRC(S3N.SI)$ $MarcoPolo Marine(5LY.SI)$ $InnoTek(M14.SI)$ $PacificRadiance(RXS.SI)$ $Bukit Sembawang(B61.SI)$ $Sunpower(5GD.SI)$ $Addvalue Tech(A31.SI)$ $GuocoLand(F17.SI)$ $NamCheong(1MZ.SI)$

On January 9, Catalist-listed Embracing Future Holdings (EFH) announced multiple acquisitions to be collectively funded entirely through the issuance of new shares, while conserving its cash resources. These transactions aim to expand the Group into biomedical, AI, and multi-channel network (MCN) businesses while strengthening its revenue base.

Previously operating as Biolidics prior to June 2025, EFH’s new name more accurately represents its strategic growth focus of entering a new era. Apart from EFH, Toku and TAP, other Catalist listings with more than S$1.0 million in ADT in January 2026 include Aoxin Q & M, Ley Choon Group, IX Biopharma, and CNMC Goldmine. 

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