Singapore Fund Flow - UOB Kay Hian 2021-03-10: Banks & Aviation Led The Way In February 2021

Singapore Market Strategy - UOB Kay Hian Research | SGinvestors.io SINGAPORE AIRLINES LTD (SGX:C6L) THAI BEVERAGE PUBLIC CO LTD (SGX:Y92) SINGTEL (SGX:Z74) GENTING SINGAPORE LIMITED (SGX:G13)

Singapore Fund Flow - Banks & Aviation Led The Way In February 2021




A busy week in the last week of February.

  • We note that the week with the most movement in net buys and sells was the last week of February (week of 22 Feb 21). We believe that market concerns regarding the “imminent” onset of inflation, given that US new export orders and order backlogs are building, coupled with the US 10-year Treasury rate heading towards the critical 1.5% level, were the key drivers of market sentiment.


Banks and aviation led the way.



SIA remains a favourite within the institutional market.

  • Singapore Airlines (SGX:C6L) was consistently within top institution buys during the four weeks of February. With the global rollout of various COVID-19 vaccines proceeding, it would appear that sentiment is in favour of aviation stocks.
  • In addition, flows into aviation-specific ETFs, such as the US Global Jets ETF (JETS) which is a global airline ETF, may also explain part of the fund flows into the sector. For example, Hong Kong-listed aviation stocks such as China Southern and BOC Aviation have also seen strong share price performance in the past few weeks.


Where did institutional and retail opinions diverge?

  • Based on the top 20 most traded stocks for institutional and retail interest, the divergence in stock calls were:


Notable actively-traded stocks.










Singapore Research UOB Kay Hian Research | https://research.uobkayhian.com/ 2021-03-10
SGX Stock Analyst Report HOLD MAINTAIN HOLD 4.470 SAME 4.470
BUY MAINTAIN BUY 0.950 SAME 0.950
BUY MAINTAIN BUY 2.840 SAME 2.840
BUY MAINTAIN BUY 1.080 SAME 1.080



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