SMID stocks draw $113m as STI sinks 4.1% in 5 sessions

AEM Holdings drew over half of the SMID inflows at $61m

A total of 93 SGX-listed small- and mid-capitalisation (SMID) stocks attracted a combined net institutional inflow of $113m amidst close to $900m in net institutional outflows from the broader market.

Technology stocks accounted for nearly 70% of total inflow value, with AEM Holdings alone representing more than half of SMID stocks' net inflows at $61m, according to SGX’s market updates.

Venture Corporation followed at $6.6m, ahead of UMS Integration at $5m, Q&M Dental at $4.9m, and DFI Retail Group at $4.7m.

Amongst large-cap stocks, Jardine Matheson Holdings, Singapore Technologies Engineering, Sembcorp Industries, Singapore Telecommunications, CapitaLand Integrated Commercial Trust, Hongkong Land, and Jardine Matheson Southeast Asia also recorded net institutional inflows.

The broader market faced significant selling pressure, with the Straits Times Index (STI) falling 4.1% over the five trading sessions. Financial stocks led the decline as higher global Treasury yields prompted portfolio rebalancing.

Rising shipping, fuel, material, and labour costs heightened investor scrutiny of corporate earnings resilience and the sustainability of profit margins, SGX said.

Net institutional outflow totalled close to $900m, with the three STI-listed banks accounting for about 80% of the market's net institutional selling.

The banks’ shares fell by an average of 7% over the five sessions, reducing their average total return for the first 41 weeks of the year to 36%.

Meanwhile, the 93 SMIDs with net institutional inflow averaged a 0.5% decline in weekly returns.

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