Highlights of the 30 Most Traded Non-STI Stocks in 2H25
The 30 most traded non-STI stocks in 2H25, spanning all 12 sectors, have a combined market cap of S$74B. Notable debutants include YZJ Maritime, NTT DC REIT, and CAREIT. The stocks saw a rise in average daily turnover and net institutional inflow. Seven REITs, with a market cap of S$19.5B, recorded significant institutional outflows. Tech stocks like CSE Global led in net institutional inflow-to-market cap ratio. Extensive research coverage was provided for these stocks.
- Beyond the 30 STI stocks, the next 30 most traded stocks by daily turnover in 2H25 span all 12 Sectors, with a combined S$74B market capitalisation. The 30 stocks include three debutants, YZJ Maritime, NTT DC REIT and CAREIT, with total returns since their listings ranging from 17% for CAREIT to -3% for NTT DC REIT.
- The 27 of the 30 stocks listed for the 1H25 duration, have seen ADT increase from S$115M in 1H25 to S$180M in 2H25, while averaging 30% total returns and extending the S$90M of net institutional inflow in 1H25 with another S$76M of net inflow. The 27 stocks have also seen their median P/B expand from 1.22x on Jun 30 to 1.56x on Dec 3.
- CSE Global led net institutional inflow-to-market cap among the 30 stocks, with ADT surging from S$1.4M in 1H25 to S$5.8M in 2H25. It posted 9MFY25 revenue growth of 9% y/y, secured S$513M in orders, and announced an Amazon partnership worth up to US$1.5B over five years.
The 30 most traded stocks in 2H25 beyond the 30 Straits Times Index (STI) stocks maintain $74.4 billion combined market capitalisation and represent all 12 sectors. On a median total return basis for the 2025 year to Dec 3, these next most traded 30 stocks have kept pace with the STI, with a 25% median total return. In total these next 30 stocks by 2H25 ADT have booked combined S$214 million in average daily turnover (ADT) in 2H25. As much as S$34 million of the S$214 million 2H25 ADT was chalked up by debutants Yangzijiang Maritime, NTT DC REIT and Centurion Accommodation REIT (CAREIT).
7 Non-STI REITs with S$19.5 Market Value
Among the 30 stocks, seven REITs maintain the strongest presence among the cohort of 30 stocks, with the highest combined market capitalisation at S$19.5 billion, and highest combined 2H25 ADT at S$53.1 million.
The cohort of seven S-REITs include NTT DC REIT, CAREIT, Suntec REIT, Keppel REIT, CapitaLand Ascott Trust, Lendlease Global Commercial REIT and Parkway Life REIT. They collectively recorded combined net institutional outflow of S$135 million in 2H25.
Two of the S-REITs, NTT DC REIT and Centurion Accommodation listed in 2H25, with post-listing net institutional outflow accounting for S$127 million (94%) of the S$135 million net outflow. Suntec REIT, Lendlease Global Commercial REIT and Keppel REIT have booked net institutional inflow in 2H25 while generating relatively symmetrical total returns of 25%, 25% and 23%.
The seven S-REITs are tabled below:
| 7 REITs among 30 most traded stocks in 2H25 beyond 30 STI stocks | Code | Mkt Cap S$M | YTD NIF S$M | 1H25 NIF S$M | 2H25 NIF S$M | YTD ADT S$M | 1H25 ADT S$M | 2H25 ADT S$M | ADT Growth 2H/1H (x) | 1H25 TR % | 2H25 TR % |
| NTT DC REIT USD | NTDU | 1293 | -89.2 | N/A | -89.2 | 9.3 | N/A | 9.3 | N/A | N/A | -3 |
| Cent Accom REIT | 8C8U | 1922 | -36.8 | N/A | -36.8 | 9.2 | N/A | 9.2 | N/A | N/A | 17 |
| Suntec Reit | T82U | 4057 | 78.0 | 31.9 | 46.1 | 7.6 | 6.8 | 8.4 | 1.2 | -1 | 25 |
| Keppel Reit | K71U | 4207 | 6.0 | -32.8 | 38.8 | 7.6 | 7.0 | 8.3 | 1.2 | 5 | 23 |
| CapLand Ascott T | HMN | 3595 | -93.5 | -39.8 | -53.6 | 5.8 | 4.7 | 7.0 | 1.5 | 6 | 9 |
| Lendlease Reit | JYEU | 1818 | 8.1 | -24.3 | 32.4 | 4.5 | 2.5 | 6.7 | 2.6 | -2 | 25 |
| ParkwayLife Reit | C2PU | 2651 | -62.3 | 10.1 | -72.5 | 4.4 | 4.6 | 4.2 | 0.9 | 10 | 1 |
Note ADT refers to Average Daily Trading Turnover, NIF refers to Net Institutional Flow, TR refers to Total Return. Sources: SGX, LSEG Workspace, Data as of Dec 3 2025.
All seven REITs have been covered by analysts in 2H25, with research published on the SGX Analyst Research subpage.
CAREIT has seen significant coverage with multiple Initiations and Updates since its September debut from Maybank Securities, DBS, UOB-KayHian, Beansprout and Tickrs.
NTT DC REIT was covered by DBS with an Initiation on Nov 4 and a Results First Take on Nov 12. DBS also published a Suntec REIT Update on Aug 7, a Keppel REIT Update on Jul 31, and a CapitaLand Ascott Trust Update on Jul 30. CGSI also provided an Update on CapitaLand Ascott Trust on Aug 1. Lendlease Global Commercial REIT was featured with a Syfe Initiation on Oct 24 and a DBS Update on Aug 6. Parkway Life REIT was most recently subject to an OCBC Update on Nov 6, a Beansprout Update on Aug 7 and a DBS Update on Aug 7. Note there has been much more research coverage beyond these reports that have been shared for the investor public on the SGX subpage.
Trio of Tech Stocks Led Net Institutional Inflow-to-Market Cap Ratio in 2H25
Among the 30 stocks, the technology sector saw the next largest combined 2H25 ADT after the S-REITs, with the five stocks maintaining S$44.4 million in 2H25 ADT, 2.4x their S$18.8 million ADT in 1H25.
The trio of CSE Global, iFAST Corporation and Frencken Group also booked the highest 2H25 net institutional inflow proportionate to market capitalisation among the next 30 stocks by ADT. KGI published an Update on CSE Global on Nov 5, DBS published an Update on iFAST Corporation on Oct 28, and Frencken Group Updates were published by Phillip Capital, DBS and CGSI in 2H25.
| 10 Stocks with highest 2H25 NIF / Current Mkt Cap among 30 most traded stocks in 2H25 beyond 30 STI stocks | Code | Mkt Cap S$M | YTD NIF S$M | 1H25 NIF S$M | 2H25 NIF S$M | 2H25 NIF/ Mkt Cap | YTD ADT S$M | 1H25 ADT S$M | 2H25 ADT S$M | ADT Growth 2H/1H (x) | 1H25 TR % | 2H25 TR % | Sector |
| CSE Global | 544 | 742 | 56.2 | 10.8 | 45.5 | 6% | 3.5 | 1.4 | 5.8 | 4.1 | 40 | 70 | Technology |
| IFAST | AIY | 2776 | 92.6 | -16.9 | 109.5 | 4% | 11.4 | 7.5 | 15.6 | 2.1 | -10 | 39 | Technology |
| Frencken | E28 | 593 | 12.8 | -2.7 | 15.5 | 3% | 4.7 | 2.9 | 6.8 | 2.4 | 13 | 12 | Technology |
| Wee Hur | E3B | 668 | 28.9 | 13.7 | 15.2 | 2% | 3.7 | 3.1 | 4.4 | 1.4 | 33 | 52 | Industrials |
| Geo Energy Res | RE4 | 631 | 24.1 | 11.2 | 12.9 | 2% | 3.0 | 2.3 | 3.9 | 1.7 | 16 | 32 | Energy/ Oil & Gas |
| Hong Leong Asia | H22 | 1576 | 52.1 | 21.2 | 30.9 | 2% | 2.5 | 1.1 | 4.0 | 3.7 | 81 | 33 | Consumer Cyclicals |
| CNMC Goldmine | 5TP | 428 | 14.0 | 6.3 | 7.8 | 2% | 3.7 | 1.1 | 6.6 | 6.2 | 76 | 156 | Materials & Resources |
| Lendlease Reit | JYEU | 1818 | 8.1 | -24.3 | 32.4 | 2% | 4.5 | 2.5 | 6.7 | 2.6 | -2 | 25 | REITs |
| PropNex | OYY | 1418 | 19.6 | -0.8 | 20.4 | 1% | 2.1 | 0.7 | 3.7 | 5.2 | 20 | 82 | Real Estate (excl. REITs) |
| SIA Engineering | S59 | 3994 | 72.3 | 20.6 | 51.6 | 1% | 2.8 | 1.9 | 3.8 | 2.0 | 33 | 16 | Industrials |
| Riverstone | AP4 | 1270 | -19.5 | -35.6 | 16.1 | 1% | 3.2 | 2.9 | 3.6 | 1.2 | -35 | 30 | Healthcare |
| Suntec Reit | T82U | 4057 | 78.0 | 31.9 | 46.1 | 1% | 7.6 | 6.8 | 8.4 | 1.2 | -1 | 25 | REITs |
| Keppel Reit | K71U | 4207 | 6.0 | -32.8 | 38.8 | 1% | 7.6 | 7.0 | 8.3 | 1.2 | 5 | 23 | REITs |
Note ADT refers to Average Daily Trading Turnover, NIF refers to Net Institutional Flow, TR refers to Total Return. Sources: SGX, LSEG Workspace, Data as of Dec 3 2025.
CSE Global also leads in net institutional inflow-to-market capitalisation ratio among all SGX-listed stocks above S$100 million. It has seen its ADT increase from S$1.0 million in 2024, to S$1.4 million in 1H25 and S$5.8 million in 2H25 to Dec 3. On Nov 11, CSE Global provide a business update, with 9MFY25 revenue growth of 9% from 9MFY24, driven by its strategic focus on Electrification (52%), Communications (27%), and Automation (21%). This followed record revenue in FY24. The company also secured S$513 million in order wins for the 9MFY25 period, bringing its total order book to S$467 million. Recent initiatives include capitalising on strong data centre demand and expanding its US communications business via the acquisition of Chicago Communications. Its consensus estimate target price has doubled this year from S$0.60 to S$1.20. In November, CSE Global also announced a partnership with Amazon, which could give Amazon an 8% stake in exchange for up to US$1.5 billion in contracts over five years.
The full table of the 30 most traded stocks in 2H25 beyond the STI that maintain $74.4 billion combined market are tabled below.
| Stock | Code | Mkt Cap S$M | YTD NIF S$M | 1H25 NIF S$M | 2H25 NIF S$M | YTD ADT S$M | 1H25 ADT S$M | 2H25 ADT S$M | ADT Growth 2H/1H (x) | 1H25 TR % | 2H25 TR % | Sector |
| ComfortDelGro | C52 | 3115 | -144.2 | 0.0 | -144.2 | 15.6 | 12.7 | 18.8 | 1.5 | -1 | 3 | Industrials |
| IFAST | AIY | 2776 | 92.6 | -16.9 | 109.5 | 11.4 | 7.5 | 15.6 | 2.1 | -10 | 39 | Technology |
| YZJ Maritime | 8YZ | 2438 | 1.7 | N/A | 1.7 | 15.6 | N/A | 15.6 | N/A | N/A | 4 | Financial Services |
| YZJ Fin Hldg | YF8 | 1615 | 163.3 | 163.9 | -0.6 | 15.0 | 15.1 | 15.0 | 1.0 | 87 | 39 | Financial Services |
| NTT DC REIT USD | NTDU | 1293 | -89.2 | N/A | -89.2 | 9.3 | N/A | 9.3 | N/A | N/A | -3 | REITs |
| Cent Accom REIT | 8C8U | 1922 | -36.8 | N/A | -36.8 | 9.2 | N/A | 9.2 | N/A | N/A | 17 | REITs |
| UMS | 558 | 972 | 21.2 | 39.9 | -18.7 | 5.8 | 2.9 | 8.9 | 3.1 | 32 | 5 | Technology |
| Suntec Reit | T82U | 4057 | 78.0 | 31.9 | 46.1 | 7.6 | 6.8 | 8.4 | 1.2 | -1 | 25 | REITs |
| Keppel Reit | K71U | 4207 | 6.0 | -32.8 | 38.8 | 7.6 | 7.0 | 8.3 | 1.2 | 5 | 23 | REITs |
| AEM SGD | AWX | 540 | -13.9 | -12.1 | -1.8 | 5.6 | 4.1 | 7.2 | 1.8 | 4 | 14 | Technology |
| CapLand Ascott T | HMN | 3595 | -93.5 | -39.8 | -53.6 | 5.8 | 4.7 | 7.0 | 1.5 | 6 | 9 | REITs |
| Sheng Siong | OV8 | 3962 | -7.0 | 6.6 | -13.6 | 5.2 | 3.7 | 7.0 | 1.9 | 16 | 43 | Consumer Non-Cyclicals |
| Frencken | E28 | 593 | 12.8 | -2.7 | 15.5 | 4.7 | 2.9 | 6.8 | 2.4 | 13 | 12 | Technology |
| Lendlease Reit | JYEU | 1818 | 8.1 | -24.3 | 32.4 | 4.5 | 2.5 | 6.7 | 2.6 | -2 | 25 | REITs |
| CNMC Goldmine | 5TP | 428 | 14.0 | 6.3 | 7.8 | 3.7 | 1.1 | 6.6 | 6.2 | 76 | 156 | Materials & Resources |
| CSE Global | 544 | 742 | 56.2 | 10.8 | 45.5 | 3.5 | 1.4 | 5.8 | 4.1 | 40 | 70 | Technology |
| SingPost | S08 | 942 | -98.9 | 11.6 | -110.5 | 5.1 | 4.5 | 5.7 | 1.3 | 15 | -20 | Industrials |
| NetLink NBN Tr | CJLU | 3734 | -21.7 | -9.3 | -12.3 | 4.5 | 4.1 | 5.1 | 1.3 | 4 | 12 | Telecommunications |
| Jardine C&C | C07 | 13450 | 38.9 | -70.3 | 109.2 | 5.2 | 5.5 | 4.9 | 0.9 | -10 | 41 | Consumer Cyclicals |
| Wee Hur | E3B | 668 | 28.9 | 13.7 | 15.2 | 3.7 | 3.1 | 4.4 | 1.4 | 33 | 52 | Industrials |
| First Resources | EB5 | 3311 | -2.2 | -13.4 | 11.2 | 3.6 | 3.0 | 4.2 | 1.4 | 3 | 46 | Consumer Non-Cyclicals |
| ParkwayLife Reit | C2PU | 2651 | -62.3 | 10.1 | -72.5 | 4.4 | 4.6 | 4.2 | 0.9 | 10 | 1 | REITs |
| Hong Leong Asia | H22 | 1576 | 52.1 | 21.2 | 30.9 | 2.5 | 1.1 | 4.0 | 3.7 | 81 | 33 | Consumer Cyclicals |
| Geo Energy Res | RE4 | 631 | 24.1 | 11.2 | 12.9 | 3.0 | 2.3 | 3.9 | 1.7 | 16 | 32 | Energy/ Oil & Gas |
| SIA Engineering | S59 | 3994 | 72.3 | 20.6 | 51.6 | 2.8 | 1.9 | 3.8 | 2.0 | 33 | 16 | Industrials |
| PropNex | OYY | 1418 | 19.6 | -0.8 | 20.4 | 2.1 | 0.7 | 3.7 | 5.2 | 20 | 82 | Real Estate (excl. REITs) |
| Golden Agri-Res | E5H | 3595 | -33.8 | 4.0 | -37.8 | 2.5 | 1.5 | 3.6 | 2.4 | -2 | 12 | Consumer Non-Cyclicals |
| Riverstone | AP4 | 1270 | -19.5 | -35.6 | 16.1 | 3.2 | 2.9 | 3.6 | 1.2 | -35 | 30 | Healthcare |
| Rex Intl | 5WH | 201 | 8.3 | 20.7 | -12.5 | 4.3 | 5.1 | 3.3 | 0.6 | 45 | -13 | Energy/ Oil & Gas |
| Kep Infra Tr | A7RU | 2855 | -32.9 | -24.0 | -8.8 | 2.9 | 2.6 | 3.3 | 1.3 | -9 | 23 | Utilities |
| Total |
| 74,367 | 42 | 90.2 | -48.3 | 180 | 115 | 214 |
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| 2.1 | 19 | 29 |
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| 10 | 23 |
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Note ADT refers to Average Daily Trading Turnover, NIF refers to Net Institutional Flow, TR refers to Total Return. Sources: SGX, LSEG Workspace, Data as of Dec 3 2025.
