S-REITs draw S$95.4 million as institutions sell banks and tech stocks
Overall institutional net outflows totalled S$57 million over five trading sessions, below the year-to-date weekly average of about S$100 million.
Institutional investors were net buyers of Singapore-listed real estate investment trusts, putting S$95.4 million into the sector over five trading sessions while withdrawing funds from technology and financial shares, according to the Singapore Exchange (SGX).
S-REITs delivered a market-cap-weighted total return of 2.5%. Returns were positive for 34 of the 39 trusts, while four fell and one finished unchanged. ESR-REIT rose 5.6%, ahead of CapitaLand China Trust’s 5.0% and CapitaLand India Trust’s 4.8%.
CapitaLand Ascendas REIT received S$46.4 million in net institutional buying. CapitaLand Integrated Commercial Trust drew S$13.1 million and Keppel DC REIT attracted S$9.9 million. Their respective total returns for the period were 2.3%, 2.6% and 2.8%.
Financial services had the biggest sector-level net institutional outflow, at S$88.2 million. Combined withdrawals from DBS, OCBC and UOB reached S$98.4 million, with buying elsewhere in the sector providing a partial offset. The banks’ shares fell 4.7%, 5.3% and 10.9%, respectively.
Technology shares saw net institutional selling of S$71 million. AEM dropped 16.8% and UMS lost 15.9%. SGX linked global equity volatility to weakness in technology-related industries amid concerns about AI spending, regulation and investment returns.
Industrials attracted S$73.6 million in net institutional inflows despite a market-cap-weighted total-return decline of 1.7%. Jardine Matheson received S$51 million and Singapore Airlines S$36.8 million. Across the Singapore market, net institutional withdrawals were S$57 million, compared with a year-to-date weekly average of about S$100 million.
