Singapore’s small and mid-cap (SMID) stocks, with market capitalisations between S$100m and S$10b, achieved a significant milestone in the first half of 2026 (H1 2026). These 240 stocks generated an average daily turnover (ADT) of S$696m, marking a 13% total return. This growth in trading activity outpaced the overall market returns, highlighting increased investor participation and liquidity.
The ADT for SMIDs listed before the past 12 months rose from S$362 million in the first half of 2025 (H1 2025) to S$663m in H1 2026. New listings contributed S$33m in H1 2026. Notably, AEM Holdings exemplified this trend, with a 519% total return, including a share price increase from S$1.72 to S$10.63.
Institutional buying was selective, with technology and industrial stocks leading the inflows. The technology sector alone attracted S$560m in net institutional inflow. Companies such as AEM Holdings, Info-Tech Systems, and Frencken Group recorded the highest net institutional inflow relative to market capitalisation.
The increase in trading activity and institutional interest underscores the growing appeal of SMID stocks in Singapore’s market. As global rate outlooks remain hawkish, the focus on technology and industrial sectors suggests a strategic shift towards sectors with promising growth potential. This trend is likely to continue influencing market dynamics in the coming months.
