Key institutional outflows led by REITs, while DBS and Yangzijiang Shipbuilding drive inflows

From Nov 1 to 7, Singapore stocks experienced net institutional outflows of S$141 million, a significant slowdown compared to the S$404 million outflow in the prior five sessions. Leading the outflows were OCBC, CapitaLand Ascendas Reit, and Mapletree Pan Asia Commercial Trust, alongside other major REITs and financial stocks.

Conversely, net institutional inflows were led by DBS, which recorded S$109 million on Nov 7 after reporting a 15% rise in Q3 FY2024 profits to S$3 billion and announcing a large share buyback program. Other stocks attracting institutional interest included Hongkong Land Holdings, Singtel, and Jardine Matheson Holdings.

Yangzijiang Shipbuilding also saw positive momentum, set to join the MSCI Singapore Index on Nov 25 following a rise in market capitalisation to S$10 billion. This development highlights Singapore as the only developed market in Asia to see a net increase in MSCI Standard Index constituents during the November 2024 rebalance.