Retail investors in Singapore have demonstrated resilience by net buying S$1.24b worth of stocks during the first eight trading sessions of April, despite a turbulent market environment. This period saw the Straits Times Index (STI) experience a significant 9.6% decline in total return, reverting to levels last seen in the third quarter of 2024, and closing at 3,577.83 on 10 April. The iEdge S-REIT Index also faced a 7.4% drop in total return.
The STI Banks sector led the net retail inflow, despite an average decline of 12.3% in total return. Outside the STI, companies such as iFAST Corporation, Keppel DC REIT, UMS Integration, Singapore Post, and Suntec REIT attracted the most net retail inflow. Sector-wise, Banks, Industrials, Technology, Consumer Cyclicals, and REITs were the primary drivers of this inflow.
Conversely, the Telecommunications sector, led by Singtel, saw the highest net retail outflow. Interestingly, Singtel bucked the trend by gaining 2% over the same period and leading the net institutional inflow with S$297m, contrasting with the broader market’s S$333m net institutional outflow.
The market’s volatility has been partly attributed to the US administration’s efforts to address the trade deficit, affecting growth projections and stock outlooks. This has led to a downward revision of the Bloomberg Consensus Estimate Target Price for the STI from approximately 4,360 at the end of March to around 4,250 by 10 April.
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