To The Moon

The STI generated a 2.4% total return over the first 15 weeks of 2023 amid a global macro background of persistent inflation and decelerating growth. Ongoing geopolitical tensions also saw manufacturing and wholesale trade weigh 1Q23 Adv GDP growth to +0.1% YoY.

With a combined market capitalisation of S$509 billion, together the 30 STI stocks averaged daily trading turnover of S$855 million over the first 15 weeks of 2023, while booking S$2.0 billion of net institutional outflow.

By comparison, the next 30 most traded stocks in the year through to 17 April, maintain a combined market capitalisation of S$84 billion, while averaging daily trading turnover of S$167 million and booking S$37 million of net institutional outflow. These 30 most traded Non-STI stocks in the 2023 year to 17 April span as many as 10 Sectors, with just over half of the 30 stocks outpacing the STI total returns over the period.

1. $SAMUDERA SHIPPING LINE LTD(S56.SI)$

The strongest performer of the 30 stocks in both the 2023 year to 17 April and past five years was Samudera Shipping Line(SAMU) $SAMUDERA SHIPPING LINE LTD(S56.SI)$ . For its FY22, Samudera Shipping Line delivered a record performance with revenue growing 88.0% to US$990.6 million, from US$527.0 million recorded in FY21.

The Group noted that the delivery of two of the six container newbuilds last year that it had secured on long-term operating leases also afforded Samudera Shipping Line greater flexibility to support its customers. The six newbuilds form part of its strategy to rejuvenate the fleet with younger, larger and more fuel-efficient vessels.

2. $NIO Inc.(NIO.SI)$

In addition, 18 of the 30 most traded non-STI stocks booked net institutional inflows over the past 15 weeks. The market value of the 30 stocks varies from above S$16 billion for NIO Inc $NIO Inc.(NIO.SI)$ to near S$250 million for Rex International.  

While NIO Inc, is the largest of the 30 stocks by market capitalisation, the past five sessions saw the stock maintain the third narrowest bid/ask spread of the group, in terms of basis points after Haw Par Corporation $HAW PAR CORP LTD(H02.SI)$ and AEM Holdings $AEM HOLDINGS LTD(AWX.SI)$ .

NIO Inc shares traded in Singapore and NYSE traded ADS are fully fungible, thus holders and shareholders can convert shares trading on SGX to ADS trading on NYSE, and vice-versa. NIO Inc has declined 4.4% in the 2023 year to 17 April in USD terms, while Contemporary Amperex Technology which makes up 6.4% of the FTSE China A50 Index has gained 4.0% in USD terms.

3. $BEST WORLD INTERNATIONAL LTD(CGN.SI)$

Among the 30 stocks, the 10 stocks that booked the highest YTD net institutional inflows proportionate to market capitalisation generated positive returns for the period.

These included Best World International (BEST)${{cc03a0187e46425192bc40d9425f7447}} , Yangzijiang Financial Holding(YANZ) $YZJ Fin Hldg(YF8.SI)$ , CapitaLand China Trust $CapLand China T(AU8U.SI)$ , Frencken Group $FRENCKEN GROUP LIMITED(E28.SI)$ , Golden Agri-Resources $GOLDEN AGRI-RESOURCES LTD(E5H.SI)$ , Nanofilm Technologies International $Nanofilm(MZH.SI)$ , Raffles Medical Group $RAFFLES MEDICAL GROUP LTD(BSL.SI)$ , Sheng Siong Group $SHENG SIONG GROUP LTD(OV8.SI)$ , Samudera Shipping Line $SAMUDERA SHIPPING LINE LTD(S56.SI)$ and Top Glove Corporation Bhd $TOP GLOVE CORPORATION BHD(BVA.SI)$ .

https://www.sgx.com/research-education/market-updates/20230418-recent-highlights-tier-30-stocks-beyond-sti-benchmark