STI rises 23.2% in 10 months, surpassing 17-year high

STI recorded a net institutional inflow of $489m.

Over the past 10 months, from 17 April 2024 to 10 February, the Straits Times Index (STI) surged 23.2% to 3,921.30, surpassing its October 2007 record high of 3,906.16.

Meanwhile, there were two for every three gainers spanning the 730-point rise from the 3,144.76 close on 16 April to the 3,875.13 close on 10 February.

STI recorded a net institutional inflow of $489m, with the top five stocks seeing the highest net institutional inflows over the 10-month period including Singtel, UOB, SGX, OCBC, and ST Engineering.

Yangzijiang Shipbuilding saw the strongest gains amongst the STI constituents with a 65% price gain, followed by SGX (53%) and Hongkong Land (45%).   

In the same period, DBS, UOB, and OCBC averaged 33% price gains, with their combined weight in the STI rising from 50% on 17 April 2024 to 54% on 10 February.

In addition, the STI achieved total returns of 29.2% during the 10-month period. 

“Given the STI's relatively high dividend yield, it's unsurprising that between its October 2007 and February 2025 highs, the STI generated a 95% total return, driven by reinvested dividend distributions,” SGX said.