SGX share buyback hits 20-month high in November

33 primary-listed stocks on SGX bought back their shares.

A market update from the Singapore Exchange (SGX) revealed that buyback consideration reached a 20-month high in November. 

33 primary-listed stocks on SGX bought back their shares, with a total consideration of $275m reached. This is up from the previous month’s 32 companies with $86m worth of buybacks. 

Overall, this brings the total consideration filed by the primary-listed stocks to $970m for the first 11 months of 2021, or 0.15% of the total market value. Of the total $888.4b in market capitalisation of all stocks listed on SGX, $635.1b was represented by primary-listed stocks.

Secondary-listed Jardine Matheson Holdings and HongKong Holdings Land also bought back shares in November, with JMH and HongKong Land seeing reductions by 0.4% and 0.5%, respectively. 

STI also declined by 4.9% in November to 3,041.29, returning to levels last traded on 22 September at the close of 30 November. Dividend distributions in November also the STI decline by 4.6% in total return, bringing the year to date’s total return to 10.4%. This was mainly due to the trio of banks that make up more than 40% of the STI, with banks, airlines, hospitality, and energy stocks being amongst the least performing industries worldwide. When combined, the AUM of the SPDR Straits Time Index ETF and the Nikko AM Singapore STI ETF ended for the month at $2.15b, with unit creations and redemptions creating $79m of net outflows into the two ETFS.

CapitaLand Investment, Oversea-Chinese Banking Corporation, and Wilmar International led the buyback consideration tally for the primary-listed stocks in November.