Manufacturing-related stocks netted $19m institutional inflows in Q3: SGX

Total return of the iEdge SG Advanced Manufacturing Index is at 25%.

Stocks of corporates with manufacturing activity netted institutional inflows of close to S$19m in Q3 through 7 September, according to data released by the SGX.

Stocks in the iEdge SG Advanced Manufacturing Index recorded a 4% decline in total return during the period, on the back of growing market risks. These include geopolitical risks, faster-than-expected monetary policy tightening, and ongoing COVID containment risks, according to the bourse. In total, these factors have reduced the overall total return of the Index since the end of 2019 to 25%.

Compared to the past two years, however, the index’s performance is considered “a highly competitive return” accordion to SGX. For comparison, the the Dow Jones Industrial Average generated a 22% total return; the FTSE ST All-Share Index was up by 9%; and the FTSE Asia Pacific Index inched up by 1%, using the same measure.

The five Index heavyweights, NIO Inc, Venture Corporation, Wilmar International, Singapore Technologies Engineering and Thai Beverage PCL comprise approximately half the Index weights.

Of the five, NIO Inc maintains the highest Index weight and is a designer and developer of high-performance electric vehicles, which commenced its secondary listing in Singapore on 20 May. Since 20 May, the share price has gained 2.4% in SGD terms, whilst maintaining 90-day Annualised Volatility above 70%. The stock has averaged more than S$5m in daily trading turnover, and liquidity has increased by 14% in the first 5 trading days of September compared to August levels.

Meanwhile, the 10 stocks of the Index that have seen the highest net institutional inflows for Q3 are: Venture Corporation, UMS Holdings, AEM Holdings, Aztech Global, Sembcorp Marine, SATS, Marco Polo Marine, Dyna-Mac Holdings, Wilmar International and UG Healthcare Corporation.

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