Top Singapore Stock Gainers and Losers of Sep 2023

Singapore Technologies Engineering and financial stocks led September returns, while NIO, Olam, and Seatrium slumped.

Kate Lin 04.10.2023
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Top Singapore Large-Cap Stock Gainers in Sep 2023

Singapore Technologies Engineering (S63) rose 2.62% in September and 20.55% since the start of 2023. After the gains, the narrow-moat stock is trading in an undervalued territory. The stock has a 4% forward dividend yield.

Overseas-Chinese Banking Corp (O39) climbed 2.07% in the month and 12.06% year to date. Earning a narrow economic moat rating, the stock is 20% below its fair value estimate and yields 6.25%.

Singapore Telecommunications (Z74) was up 1.68%, narrowing the year-to-date loss to 2.75%. Ending the month at SGD 2.43, the narrow-moat telecom operator is fairly priced. Its dividend yield is around 4%.

Wide-moat Singapore Exchange (S68) edged up by 1.25%, concluding the first nine months with a 10.89% gain. The stock has a 33% upside potential against its fair value estimate. 

DBS Group (D05) slightly advanced by 1.02% for the month and 4.86% so far this year. Shares in the bank are undervalued, trading 18% below the fair value. The stock yields around 5% dividend.

Top Singapore Large-Cap Stock Losers in Sep 2023

Food and agriculture company Olam Group (slumped 16% for September and 24.02% for the first nine months of 2023.

NIO Inc (NIO) retreated by 12.45%. So far this year, shares in the Chinese EV maker slid 8.9%. The shares plummeted 47% from its 52-week high.

Seatrium (S51), an offshore and marine company, fell 7.59% and lost 2.90% for the year.

Singapore Airlines (C6L) saw a setback after touching its recent peak at SGD 8.05. Shares of the national airline slid 5.97% for the month. The company remained in the green for this year with a 21.58% gain. Trading a 4-star price range, shares of the no-moat carrier are 11% below the fair value and yielding 8.7% on a forward basis.

Shopping mall REIT Mapletree Pan Asia Commerical Trust (N2IU) ended September with a 5.92% loss. The year-to-date loss is thus widened to 10.72%. With a forward dividend of 6.25%, the no-moat REIT is undervalued with a 23% discount.

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Kate Lin

Kate Lin  is an Editor for Morningstar Asia, and is based in Hong Kong

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