Banks, telecoms and industrial sectors saw the strongest interest from institutional investors. In addition, UOB KH notes that Suntec RIET saw significant selling by institutions as it was taken out of the MSCI Singapore Index on May 28 and replaced with Nasdaq-listed Sea.
UOB Kay Hian reports a divergence in institutional and retail investors' behaviour in May, while the Straits Times Index (STI) saw an overall “stable” month after picking up from a mid-month dip to 3,032 to close at 3,164 on May 31.
According to analyst Adrian Loh and the Singapore research team, institutional investors were net buyers for May, purchasing 70% more stocks than what they sold.
