• Retail investors net bought S$1.24 billion of Singapore stocks over the first eight trading sessions of April. During these eight sessions a surge in global volatility saw the STI generate a 9.6% decline in total return, returning to 3Q24 levels, and ending the April 10 session at 3,577.83. The iEdge S-REIT Index also declined 7.4% in total return.
   
• STI Banks led the net retail inflow over the eight sessions and averaged 12.3% declines in total return. Outside the STI, iFAST Corporation, Keppel DC REIT, UMS Integration, Singapore Post and Suntec REIT booked the most net retail inflow. From a sector perspective, the net retail inflow was led by Banks, Industrials, Technology, Consumer Cyclicals and REITs. 
   
• Meanwhile, the Telecommunications Sector led the net retail outflow, led by Singtel. This coincided Singtel bucking the declines and gaining 2% over the eight sessions. Singtel also led the net institutional inflow over the period, with S$297 million of net institutional inflow, versus S$333 million of net institutional outflow for the broader stock market.  

On the back of the Trump Administration’s historic efforts to address the US trade deficit, the Straits Times Index (STI) has seen a 9.6% decline in total return for the first eight sessions of April, through to April 10. The potential hardline tariffs have significantly affected overall growth projections, extending their impact to stocks, influencing everything from the outlook of bank loan portfolios to the demand for commodities and consumer electronics. This has seen the Bloomberg Consensus Estimate Target Price for the STI revised down from ~4,360 at the end of March to ~4,250 as of April 10. 

During the bout of volatility spanning eight sessions through to April 10, retail investors net bought S$1.242 billion of Singapore stocks, as institutions net sold S$333 million. Buybacks by primary-listed companies have also surged with a consideration tally around S$265 million over the past eight sessions.

Over these eight sessions, STI Banks were at the forefront of net retail inflow, while averaging a 12.3% decline in total return. 

Overall, the 20 stocks that booked the highest net retail inflow over the eight sessions averaged moderately higher 12.0% declines over the period. From a sector perspective, the net retail inflow was predominantly driven by Banks, followed by Industrials, Technology, Consumer Cyclicals, and REITs.

As detailed in the table below, beyond the STI, constituents such as iFAST Corporation, Keppel DC REIT, UMS Integration, Singapore Post, and Suntec REIT have recorded the highest net retail inflows over the eight sessions. 

All Data as of 10 April 2025, Source: SGX, Refinitiv & Bloomberg. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Flow, NRF refers to Net Retail Flow, TR refers to Total Return.

Conversely, the 20 stocks that experienced the highest net retail outflow over the past eight sessions averaged a more modest 3.4% decline in total return. The net selling value of these 20 stocks was also less significant compared to the 20 stocks that recorded the most net retail buying. As shown in the table below, these 20 stocks saw a combined net retail outflow of S$448 million, which contrasts with the net retail inflow of S$1.64 billion for the 20 stocks listed above.

All Data as of 10 April 2025, Source: SGX, Refinitiv & Bloomberg. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Flow, NRF refers to Net Retail Flow, TR refers to Total Return.Enjoying this read?

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