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Institutional investors bought these 20 stocks on Monday, when everyone was selling
FOR some investors, the recent market correction has created entry points for stocks that have done well over the last three years.
Over March 9 and 10, institutional investors were net buyers of several Singapore Exchange (SGX)-listed real estate investment trusts (Reits) and technology manufacturers that had performed well over the last three years.
According to an SGX My Gateway report, as many as 20 of the 50 most actively traded stocks on March 9 and 10 were recipients of net institutional inflows.
Among the Reits on this list were Mapletree Industrial Trust, which had returned 112.3 per cent over the last three years; Mapletree Commercial Trust, with a 79.4 per cent return; and Ascendas Real Estate Investment Trust, which had returned 62 per cent.
Tech manufacturers that saw net inflows included AEM Holdings, which makes precision engineering products for the electronics, life sciences, instruments and aerospace industries; UMS Holdings, which serves the semiconductor industry; and Venture Corp, which provides a range of electronics manufacturing services. All three have returned in excess of 50 per cent over the last three years.
Institutional investors also picked up shares in stocks that had hit new lows. Singapore Press Holdings, which publishes The Business Times, fell to $1.74 - the lowest it has been since 1998.
The correction may also have been an opportunity to buy into companies with good prospects. Palm oil company Wilmar International, reported a 120 per cent increase in its net profit for the quarter ended Dec 31, 2019, to US$438 million and proposed a record-high dividend.