The global statistics of confirmed COVID cases have returned to early January levels, dampening investor appetite.
Equity markets may have performed comparatively strongly for the first quarter of the year, but this might soon change, according to the Singapore Exchange (SGX).
For the first quarter, the most traded non-Straits Times Index (STI) stocks have posted a 12.5% total return, second only to the Taiwan Stock Exchange Weighted Index in the Asia Pacific Region.
This was driven by increased demand in semiconductors and some rotation to medical suppliers.
However, the return of the number COVID cases all over the globe to that of January statistics despite the vaccine roll outs.
"This is where markets have turned more cautious in early April. Topline statistics show that as of 11 April, there have been 774 million vaccinations administered around the globe, as compared to 136 million confirmed cases. However, since Mid-March, daily global cases have been gradually reversing that downtrend observed over the first six weeks of 2021," the SGX said in a statement, adding that the investors are wary that the pandemic might not be over yet.
Thomson Medical, iFast and ISDN led the top 21 stocks in 2021 when it came to YoY profit.
SPH, Sembcorp Marine, Thomson Medical, UMS and iFast had combined inflows of $212, receiving the highest net institutional and prop trading inflows for the first week of April.
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