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Singapore Market Strategy - Institutional net selling accelerates and corporate share buyback slowing

Shared By Stock Fanatic on Saturday, July 14, 2018 | 14.7.18

During the week of 18 June, institutional net selling rose to S$48.5 mn from S$9.5 mn a week ago. Retail investors continued to support the market with net buying of S$260 mn, vs S$370 mn a week ago. Top institutional net buy stocks are DBS, UOB, CMT, GGR and CDL, and top institutional net sell stocks are ST, CAPL, OCBC, STH and SPOST. Read More

Total short selling of S$960 mn during the week of 18 June represents 16% of turnover, flat from May 2018. Stocks that saw an increase in short selling are CDL, THBEV, HKL, JCNC and ST.

Corporate share buybacks amounted to S$31.5 mn in the week of 18 June, lower than the S$48 mn a week ago. Companies active with share buybacks include UOB, KEP, OCBC, SATS, VMS and YZJ. In particular, Keppel's share buyback rose to 1.6mn shares.

Our model portfolio is overweight defensive laggards, and our preferred names are CD and STE. With rising macro uncertainty, stocks with self-help angle are Keppel (capital recycling to drive upside to returns and dividends) and UOL (potential delisting of UIC).

Source : Credit Suisse Asia Pacific Equity Research
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Posted on Saturday, July 14, 2018 | 14.7.18
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