The Straits Times Index (STI) achieved a record high of 5,828.5 on 4 September before closing the month at 5,675.88, marking a 1.4% decline. Despite this, September saw a milestone in net inflows to STI Exchange-Traded Funds (ETFs), with assets under management surpassing S$6b for the first time.
The FTSE ST Catalist Index and the FTSE ST All-Share Technology Index outperformed the STI, gaining 2.4% and 1.7% respectively. Institutional investors recorded net selling of approximately S$1.02b, whilst Utilities and Technology sectors attracted the most institutional inflows.
In September, more than a third of stocks experienced higher average daily turnover, particularly in Energy/Oil & Gas, Consumer Non-Cyclicals, and Materials & Resources sectors. Notably, Geo Energy Resources and Golden Agri-Resources saw significant increases in trading activity.
The STI’s decline was less severe compared to other regional indices, such as the Hang Seng Index and CSI 300. Within Singapore’s market, iX Biopharma led the FTSE ST Catalist Index with a 25.9% gain, whilst the FTSE ST All-Share Technology Index was bolstered by PC Partner Group and AEM Holdings.
Institutional investors shifted focus towards Utilities and Technology, with Sembcorp Industries and AEM leading inflows. Conversely, Financial Services and REITs saw the largest outflows. Retail investors, however, were net buyers in these sectors, with significant inflows into DBS Group Holdings and CapitaLand Ascendas REIT.
