SMID stocks deliver 13% return as turnover hits $696m

Technology stocks attracted $560m in net institutional inflows.

Singapore's small and mid-cap (SMID) stocks recorded stronger growth in trading activity than market returns in the first half (H1) of 2026, with average daily turnover (ADT) rising to $696m.

The Singapore Exchange (SGX) said 240 SMID stocks, with market capitalisations between $100m and $10b as of 30 June, generated a combined ADT of $696m in H1, whilst delivering an average total return of 13%.

ADT for SMIDs listed before the previous 12 months increased to $663m in H1 from $459m in the second half of 2025 and $362m in 1H25.

Companies listed or that raised capital during the previous 12 months contributed $33m in ADT.

"The increase in trading activity exceeded the pace of share price appreciation over the same period," the report said.

It said ADT for SMIDs listed before the previous 12 months rose 83% between H1 2025 and H1 2026, indicating stronger investor participation and deeper market liquidity.

Institutional buying remained selective during the period as the 37 S-REITs in the group recorded net institutional outflows, whilst the remaining 203 SMIDs attracted $473m in net institutional inflows.

The technology sector alone recorded $560m in net institutional inflows, SGX noted.

"Technology and industrial stocks dominated the 40 companies with the highest net institutional inflow relative to market capitalisation," the report said, citing investor demand for semiconductor, engineering, aviation, infrastructure, and digitalisation-related companies.

The strongest net institutional inflows relative to market capitalisation were recorded by AEM Holdings, Info-Tech Systems, Frencken Group, ISDN Holdings, Beng Kuang Marine, Aoxin Q & M Dental Group, and Nanofilm Technologies International.

In absolute dollar terms, institutional inflows were led by AEM Holdings, SATS, Frencken Group, UOB Kay Hian Holdings, UMS Integration, and PC Partner Group.