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4Q 2012
1Q 2013
2Q 2013
3Q 2013
4Q 2013
1Q 2014
2Q 2014
3Q 2014
4Q
(exluding
Dec)
2014
RE D & H
13.51%
Telco
9.39%
Telco
3.98%
Cons
Goods
8.85%
REITs
6.45%
Financial
1.83%
Financial
4.97%
Financial
6.26%
Cons
Services
6.84%
Cons
Services
2.14%
Cons
Goods
2.89%
Industrials
7.28%
RE D & H
5.27%
Cons
Goods
1.80%
REITS
3.73%
Industrials
5.14%
Industrials
6.45%
STI
-4.77%
Financial
1.85%
STI
-0.01%
REITs
0.87%
Telco
4.90%
STI
0.65%
Cons
Services
2.66%
REITs
4.81%
REITs
5.10%
Cons
Goods
-5.28%
Industrials
1.03%
Cons
Services
-0.58%
STI
0.67%
Cons
Services
4.70%
Industrials
-0.26%
Telco
2.45%
STI
3.49%
Financial
4.47%
Financial
-5.84%
STI
0.55%
Financial
-1.25%
Telco
-0.22%
Financial
4.13%
RE D & H
-0.46%
STI
2.25%
4Q 2012
1Q 2013
2Q 2013
3Q 2013
4Q 2013
1Q 2014
2Q 2014
3Q 2014
4Q
(exluding
Dec) 2014
Telco
2.86%
STI
4.45%
RE D & H
-5.93%
RE D & H
-0.39%
Telco
-1.68%
Cons
Services
-0.32%
STI
2.10%
Telco
-1.20%
Industrials
1.56%
Cons
Services
0.96%
Industrials
-6.11%
Telco
-0.44%
REITs
-2.38%
RE D & H
-0.71%
Industrials
1.02%
REITs
-2.17%
RE D & H
1.48%
Cons
Goods
-1.56%
Cons
Goods
0.74%
REITs
-8.79%
REITs
-2.68%
RE D & H
-3.44%
Financial
-1.90%
Cons
Goods
-7.08%
RE D & H
-0.27%
Cons
Services
-9.13%
Cons
Goods
-3.19%
Industrials
-8.17%
Cons
Goods
-1.97%
Cons
Services
-5.34%
As shown in the chart above, the best performing sector in the preceding September quarter was
also Financials with a 1.8% price return. During the June quarter, REITs were the strongest
performing and during the preceding March quarter, the Consumer Goods sector was the strongest
performer. Please do note the past quarterly performances are excluding dividends. Hence for the
second quarter of 2013, the FTSE ST REIT Index gained 6.5% in price, while the dividends boost that
return to 7.9%.
The FTSE ST Indices are not just made up of STI stocks, they also includes stocks of the FTSE ST Mid
Cap Index and the FTSE ST Small Cap Index. However, the above indices all have STI representation
hence the mutual STI constituents have had the most impact on the performance of the Sector
Index. The breakdown of STI stocks by sector indices is detailed in the table below.
Name
SGX
Code
Relevant FTSE ST
Industry Index
Consumer Goods
Px Chg
Pct
YTD %
-15.6
Dvd
Ind
Yld %
2.0
GOLDEN AGRI-RESOURCES
E5H
6.0
OLAM INTERNATIONAL
O32
Y92
5.2
Consumer Goods
40.7
2.3
16.4
Consumer Goods
21.3
2.4
WILMAR INTERNATIONAL
F34
20.7
Consumer Goods
-6.1
2.3
COMFORTDELGRO CORP
C52
5.5
Consumer Services
29.4
3.0
G13
13.9
Consumer Services
-23.7
0.9
C07
15.0
Consumer Services
18.5
3.2
SINGAPORE AIRLINES
C6L
12.3
Consumer Services
3.6
1.5
T39
6.8
Consumer Services
4.1
3.5
A17U
5.6
Financials - REIT
6.4
6.2
CAPITALAND
C31
14.1
Financials - RE D & H
9.6
2.4
CAPITAMALL TRUST
C38U
6.8
Financials - REIT
3.9
5.5
CITY DEVELOPMENTS
C09
9.0
Financials - RE D & H
4.8
0.8
D05
48.7
Financials - Banks
16.0
2.9
MC0
12.8
Financials - RE D & H
-9.3
1.7
Name
SGX
Code
Relevant FTSE ST
Industry Index
Financials - RE D & H
Px Chg
Pct
YTD %
21.2
Dvd
Ind
Yld %
2.6
H78
21.0
O39
SINGAPORE EXCHANGE
S68
41.8
Financials - Banks
5.7
3.2
7.8
0.8
3.8
U11
38.2
Financials - Banks
13.0
2.9
NS8U
7.8
Industrials
4.8
7.0
J36
55.6
Industrials
22.9
2.3
J37
52.1
Industrials
18.1
0.7
NOBLE GROUP
N21
8.2
Industrials
14.5
0.9
SIA ENGINEERING CO
S59
4.7
Industrials
-18.8
4.6
S63
10.5
Industrials
-14.9
2.4
KEPPEL CORP
BN4
16.7
-19.6
4.7
SEMBCORP INDUSTRIES
U96
8.3
-16.8
1.1
-29.7
3.5
Telecommunications
6.6
4.3
Telecommunications
-3.5
4.8
SEMBCORP MARINE
S51
6.9
SINGAPORE
Z74
62.2
TELECOMMUNICATIONS
STARHUB
CC3
7.1
Source: Bloomberg (data as of 28 November 2014)
Differentiation among stocks is important for a stock market as it can provide for diversified returns.
Passive investors may not wish to concentrate their shareholdings in one particular type of stock or
sector, but spread the portfolio over many stocks or sectors. At the same time, more active
investors who monitor the markets with consistency might choose to rebalance their portfolios on
an annual, semi-annual or quarterly basis. This rebalancing could involve strategic decisions on the
potential performance of a sector.
The SIAS Investment Guide (click here) notes that these active decisions, based on judgment, are
more suitable for sophisticated investors. Sophisticated investors will generally have a higher level
of risk tolerance than passive investors. A composite of each of the least performing STI sectors
over the last three quarters generated an 11.0% decline, while the STI gained 3.5% in price. On the
other side of the coin, a composite of each of the best performing STI sectors over the last three
quarters generated a 17.1% price return. For more details on sector stocks please visit
sgx.com/mygateway
This document has been published for general circulation only. It is not an offer or solicitation to buy or sell, nor financial advice or recommendation in
relation to, any investment product. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or
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