More than a third of STI constituents log double-digit total returns year to date

MORE than a third of the blue-chip counters on the Straits Times Index (STI) have registered double-digit total returns in the year to date.

Leading the constituent stocks is Sembcorp Industries, which has registered a total return – including reinvested dividends – of 44 per cent so far this year.

Another 10 – Jardine Cycle & Carriage (Jardine C&C), Yangzijiang Shipbuilding, Keppel Corp, City Developments Limited (CDL), CapitaLand Investment (CLI), Singtel, SATS, ST Engineering, UOB and Singapore Airlines – logged total returns of between 10.2 and 42.7 per cent.

Of the 30 STI constituent stocks, two-thirds have managed to generate positive total returns.

“Globally, energy and utilities stocks have been the strongest sectors for the 2022 year to date, while Indonesia has been among the strongest emerging stock markets in the 2022 year to date. This has coincided with Sembcorp Industries and Jardine Cycle & Carriage leading the STI over the past 21 weeks,” the Singapore Exchange (SGX) said in a market update on May 30.

“Meanwhile, the regional reopenings have also coincided with City Developments, CapitaLand Investment, SATS and Singapore Airlines posting double digit percentage total returns in the 2022 year to date,” it added.

Overall, the STI has generated a 5.5 per cent total return in the year to date, outpacing the FTSE Developed Index, which has generated an 11 per cent decline in total return in Singapore dollar terms.

The 30 constituents have seen net institutional inflow amounting to a total of S$538 million so far this year.

Singtel led the net institutional inflows of all SGX-listed stocks, with S$666 million of net buying.

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Meanwhile, DBS saw the largest net institutional outflow among the STI constituents, with S$608 million of net selling. The bank has a total return of negative 2.7 per cent in the year to date.