Singapore-listed mid-caps swimming in a sea of red

Are negative returns the new normal?

Seven out of the ten largest stocks in the FTSE ST Mid Cap Index have generated negative year-to-date returns, according to a report by the SGX.

Of the ten largest stocks in the index, Golden-Agri Resources posted the biggest drop so far this year, with a total year-to-date return of -26.2%.

This was followed by office landlords CapitaLand Commercial Trust with a -20.4% year-to-date return, and Suntec REIT with a -16.4% return.

Meanwhile, SIA Engineering company has a total year-to-date return of -11.6%. Other counters which posted negative returns are Singapore Post (-3.8%), Yangzijiang Shipbuilding (-3.0%), and Genting Hong Kong (-0.2%).

On the flip side, players which booked positive year-to-date returns include First Resources (+8.1%), SATS (+29.8%), and Neptune Orient Lines (+45.2%).

The FTSE ST Mid Cap Index comprises the companies below the top 70%, but within the top 90% of the Index Universe by full market capitalisation, capturing the performance of the mid-capitalised companies trading on the SGX Mainboard.