Singapore stocks book $1b in net retail inflow so far this year

Capital flight from banks was more than offset by large net buying in other stocks.

Singapore-listed companies recorded $1.01b in net retail inflow from 1 January to 13 June with the bulk having booked in the first quarter, the Singapore Exchange (SGX) reported Friday. 

Net inflows have drastically slowed to $50m in Q2 ended 13 June from $959m in Q1, mainly due to $597m net retail outflow in the three major banks.

That outflow was more than offset by the $646m of net retail inflow seen in the rest of Singapore-listed stocks, according to the SGX.

UOB experienced the largest net retail outflow during the 1 April to 13 June period, with outflows of $366m reversing the net buying in the previous two quarters.

Net outflows in DBS during the same period stood at $176.5m, while OCBC Bank’s outflows amounted to $53.9m.

On a brighter note, Singapore Airlines and Keppel recorded the highest net retail inflow in Q2, with net buying of each stock amounting to $129m.

By sector, Singapore-listed REITs gained the largest net retail inflow at $404m in Q2 to 13 June, extending its lead in Q1 when REITs had $486m in net buying.

The capital flight from banks so far this quarter runs in contrast with the strong net institutional inflow these three lenders enjoyed from 1 January to 23 May, worth a combined $500m.