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THE top 20 China-related stocks listed on the Singapore Exchange (SGX) generated median total returns of 8.4 per cent year-to-date, SGX market strategist Geoff Howie said in a market update on Monday (Jun 10).
These stocks had at least one-tenth of their revenue for the recent financial year come from China and booked the highest net institutional inflow over the past 23 weeks of 2024, up till Jun 7.
Their median returns are in line with the total returns – in Singapore dollar – of the FTSE China A50 Index at 9 per cent, and CSI 300 Index at 5.1 per cent. The FTSE China A50 Index and CSI 300 Index are two key China stock market benchmarks.
There are over 100 SGX-listed stocks that recently reported more than one-tenth of their revenue came from China. Howie noted that this segment of the Singapore stock market has been “mixed” this year so far, with S$200 million net institutional inflow led by the industrials sector.
Leading the pack of the top 20 SGX-listed China-related stocks was maritime vessel maker Yangzijiang Shipbuilding : BS6 0%, which generated total returns of 67.9 per cent year-to-date. This was followed by rubber group Sri Trang Agro-Industry : NC2 0%, which saw total returns of 49.3 per cent, and beauty products distributor Best World : CGN 0%, which had total returns of 45.3 per cent.
On average, these 20 stocks generated total returns of 11.7 per cent year-to-date. In comparison, the CSI 300 Index and FTSE China A50 Index averaged 7 per cent SGD total returns during the same period.
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Meanwhile, the FTSE All-Share Asean Index and Straits Times Index averaged 2.6 per cent and 5.6 per cent, respectively.
At the same time, the 20 SGX-listed stocks with more than one-tenth of their recent revenue from China – which booked the highest net institutional outflow for the first 23 weeks of 2024 – generated a median decline in total returns of 10.1 per cent over the period.
Among these 20 stocks are CapitaLand China Trust : AU8U 0%, Wilmar International : F34 0%, Nanofilm Technologies International : MZH 0%, Hutchison Port Holdings Trust : P7VU 0% and NIO : NIO 0%, which booked the highest net institutional outflow.
Among the 10 Singapore-listed China-focused exchange-traded funds (ETFs), the Lion-OCBC Securities Hang Seng Tech ETF maintained the highest assets under management and average daily traded value, noted Howie.
While this ETF has gained 2.3 per cent over the past 23 weeks, “its tradability is evident” through averaging 3 per cent daily trading ranges over the past 23 weeks, he said.
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