So I received this email from SGX setting out the “Top 5 Most Net Bought Singapore Stocks by Institutions in 2024”.
Of course I expected DBS, OCBC and UOB to be at the top of the list.
Imagine my surprise when I opened it up – to find that the number 1 name was actually…
Singtel
At $825 million in net inflow, it beat UOB’s inflow by almost $300 million (DBS doesn’t even feature on the top 5 list).
Charts for Singtel look… decent?
Regular readers know that I looked at Singtel about half a year ago – and my conclusion was that I really liked what I saw.
I liked the dividend increase, I liked the new strategic transformation of the company, and I liked how management was executing.
What I didn’t like so much was the chart – which was going parabolic at the time and likely susceptible to a pullback.
Well – half a year has passed since my original article....