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Which stocks generated most gains in the first half?

The top 10 constituents of the FTSE ST All-Share Index had a combined turnover close to $40m daily.

Ten constituents of the FTSE ST All-Share Index generated the highest gains in the first half of the year, along with the highest intra-day trading ranges in terms of basis points. The FTSE ST All-Share Index includes stocks in the Straits Times Index (STI) and a number of mid-cap and small-cap stocks.

These are Golden Agri-Res, HPH Trust USD, Thomson Medical, First REIT, China Everbright, COSCO SHP SG, Riverstone, Hong Leong Asia, Frencken, and UMS.

These stocks have a combined turnover close of approximately $40m daily, with 356 basis points in median daily trading wages.

Top buyers for these stocks are industry and propriety traders, with net inflows of $141m, whilst retail were net sellers with $138m outflows. Market makers made up the $2m difference.

Golden Agri-Res, the most tradable constituent of the index, maintained daily trading ranges of 430 basis points, averaging $1.2m on the best bid and best offer prices. It generated a 47% return in the first half of the year.

“As economies draw closer to normalisation in [the second half of 2021], rotations and interest in active, short-term trading is expected to continue as investors look to more macroeconomic cues, in addition to progress on containing COVID-19. This means stock tradability will continue to be relevant, which in this context is simply referring to stocks with a history of greater intra-day trading ranges, which can bring greater market risk,” the SGX said in a report.

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