STI nets 23.5% returns, best in a decade

Yangzijiang Shipbuilding was the top-performing stock.

The Straits Times Index (STI) achieved total returns of 23.5% in 2024, marking its strongest performance in more than ten years. 

By early December, the benchmark index was just 2% below its all-time high of 3,906.16, recorded in October 2007. 

Despite nearing record levels, the STI’s price-to-book ratio remained at 1.3 times, significantly lower than the 2.5 times seen during its 2007 peak, reflecting relatively conservative valuations. 

Yangzijiang Shipbuilding was the top-performing stock, delivering total returns of 108.3%. The Jiangsu-based shipbuilder’s share price climbed to S$2.99 by the end of the year, representing a more than seven-fold increase since 2017. 

Across the broader Singapore market, the 100 most actively traded stocks posted average double-digit returns in 2024, with four non-STI stocks achieving over 100% total returns.  

On 19 November, the combined assets under management (AUM) of the two STI exchange-traded funds (ETFs)surpassed S$2.5b for the first time. 

Despite the increasing number of ETF offerings in Singapore since 2020, these two funds accounted for approximately 20% of the total AUM of all Singapore-listed ETFs.