News

Stocks

Staff Reporter

, Singapore

Published:

1 year ago

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Singapore stock market sees $506m net institutional outflows in August

The net institutional outflows were led by the financial and industrial sectors.

The Singapore stock market recorded a $506m net institutional outflow from local stocks in early August, mainly driven by the financial and industrial sectors.

In the same period, the utilities sector recorded $7.1m of net institutional inflow, with Sembcorp Industries accounting for the majority of the sector flow.

Sembcorp Industries posted a net profit of $532m in H1 2024, with its gas and related services portfolio providing high earnings visibility.

In addition, STI declined 3.5%, “with dividend distributions marginally reducing the decline in total return to 3.4%.”

The decline was due to the global cross-asset repositioning that coincided with the Bank of Japan’s rate hike, along with concerns about U.S. growth, and the recent rotation from U.S. technology stocks.

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