The Outperformer Stock Indices of January

Now almost into February, the Straits Times Index (STI) has appreciated 3.2% in January to date. The STI is made up of 30 of the biggest listings on Singapore Exchange (SGX). Other Indices that are assigned Mainboard stocks based on size, otherwise referred to as capitalisation, are the FTSE ST Mid Cap Index, the FTSE ST Small Cap Index and the FTSE ST Fledgling Index.

As observed through the relative performance of the Indices, the indices of smaller stocks have outperformed in the month to date. That is, the STI gained 3.2%, Mid Cap Index gained 3.9%, Small Cap Index gained 7.8% and the Fledgling Index gained 12.5%. Over the month to date, the Small Cap Index and Fledgling Index have seen more gains in trading volume than the STI and Mid Cap Index. While the indices of the smaller stocks have outperformed, they have seen more variability in the returns of their top ten constituents.

The month to date performances of the three indices that represent non-STI stocks on the Mainboard, and their top ten constituents, are as follows:
 

  • The FTSE ST Mid Cap Index has gained +3.9% in the month to date. The largest ten constituents of the Mid Cap Index and month to date performances are: Ascendas REIT (A17U, +6.8%), Hutchison Port Holdings Trust (NS8U, +3.2%), Suntec REIT (T82U, +1.2%), CapitaCommercial Trust (C61U, +0.3%), UOL Group (U14, +3.4%), Keppel Land (K17, +2.7%), SATS (S58, +5.5%), Venture Corp (V03, +1.7%), Mapletree Logistics Trust (M44U,+1.7%), Yangzijiang Shipbuilding Holdings (BS6, +4.2%). Together these ten constituents made up 48.1% of the Mid Cap Index at the end of 2012.
  • The FTSE ST Small Cap Index has gained +7.8% in the month to date. The biggest ten of the 86 constituents of the Small Cap Index with (month to date performances) are Cache Logistics Trust (K2LU, +1.2%), Fraser Commercial Trust (ND8U, +3.4%), Cambridge Industrial Trust (J91U, +5.2%), United Engineers (U04, -4.5%), Sabana Shari’ah Compliant REIT (M1GU, +3.5%), Religare Health Trust (RF1U,+3.4%), AIMS AMP Capital Industrial REIT (O5RU, +5.7%), Ascendas Hospitality Trust (Q1P, +4.3%), Ascendas India Trust (CY6U, +6.0%) and CitySpring Infrastructure Trust (A7RU, +1.1%). Together these ten constituents, of which, nine are either REITs or business trusts, made up 36.4% of the Small Cap Index at the end of 2012.
  • The FTSE ST Fledgling Index has gained +12.5% in the month to date. The biggest five constituents of the Fledgling Index and month to date performances are Blumont Group (A33, +33.3%), Rowsley (A50, unchanged), Innopac Holdings (I26, +153.9%), Sing Investments & Finance (S35, +1.4%) and Singapore Reinsurance (S49,-2.0%). The sixth biggest stock of the Fledgling Index going into January was Kian Ann Engineering (K04) which requested suspension effective 23 January pursuant to its proposed acquisition by Invicta Asian Holdings Pte. Ltd. The next biggest stocks of the Fledgling Index are Informatics Education (I03, unchanged), Abterra (L5I, -1.4%), Tianjin Zhongxin Pharmaceutical Group US$ (T14, +6.4%) and Sino Grandness Food Industry Group (JS5, +36.5%). Together these ten constituents made up 15.7% of the Fledgling Index at the end of 2012. Going into January, the FTSE ST Fledgling Index was comprised of 323 constituents listed on the Mainboard that were too small for the FTSE ST All-Share Index inclusion.

Source: SGX MyGateway

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