Top 10 gainers in stock market averaged 2% total returns in H1 22
Financial services sector posted the most top stocks.
The top 10 most traded stocks in the first half of 2022 posted an average of 2% gains in the Straits Times Index (STI), the Singapore Exchange (SGX), said.
Amongst the top traded stocks were DBS, UOB, OCBC, Singtel, CapitaLand Integrated Commercial Trust, Ascendas REIT, Wilmar International, CapitaLand Invest, Mapletree PanAsia Commercial Trust, and Singapore Airlines Group.
These stocks averaged 6% total gains in the past seven weeks but not all of them recorded earnings.
“With the combined net institutional inflows of $393m since the end of June, the combined performances of the 10 stocks have played a key role in the STI’s 7.6% total return through to 19 August,” said SGX.
SGX, however, warned that stocks will still recognise uneven global growth and inflation as key concerns.
Whilst it also noted that the government has been imposing measures to mitigate global downside risks.
These risks impacted developments in stocks such as soaring crude palm oil prices exacerbated by the Russia-Ukraine unrest which saw Golden Agri-Resources, First Resources, and Bumitama Agri averaged 31% gains over the first five months of 2022.