Strong retail buying emerges as STI plunges
The STI sharply declined 14.6% before partially recovering 12.9%.
Retail investors emerged as strong net buyers amidst sharp declines in the Straits Times Index, purchasing $1.165b in stocks in April through 9 April.
The STI saw a sharp 14.6% decline to 3,393.59 on 9 April due to significant global developments, recovering partially by 12.9% to 3,832.32 on 23 April. This ultimately led to a 3.2% total return decline for the month after closing the first quarter at 3,972.43.
Retail net buying was primarily driven by DBS, OCBC, and UOB. For the month of April 23, non-STI stocks most net bought by retail included iFAST, Keppel DC REIT, Aztech Global, ESR-REIT, and First Resources.