SINGAPORE: As 2023 draws to a close, investors in Singapore have navigated through a year marked by uncertainty and volatility.
The stock market, ever the focal point for those seeking financial growth, witnessed a range of highs and lows, keeping investors on their toes. Yahoo Singapore recently released “Top 10 Most Searched Stocks” in their year in-review 2023. Here’s a breakdown of the 10 most searched stocks in Singapore:
1. Singapore Airlines (C6L.SI)
Singapore Airlines, renowned for its excellence in passenger and cargo air transportation, topped the list as the most searched stock. Notably, the airline group experienced a stellar performance in the first half of the fiscal year ending September 2023, with a remarkable net profit of S$1.4 billion – a staggering 55.4% increase year-on-year. The accolades continued as Singapore Airlines and its low-cost subsidiary Scoot received prestigious awards in the 2023 Skytrax World Airline Awards.
2. OCBC Bank (O39.SI)
Investor attention also gravitated towards Overseas-Chinese Banking Corporation Limited (OCBC), the second-largest bank in Southeast Asia by total assets. OCBC reported a record net profit of S$5.40 billion for the first nine months of 2023, representing an impressive 32% year-on-year increase. This growth was underpinned by a 13% rise in total income.
3. DBS Group Holdings (D05.SI)
DBS Group Holdings emerged as the third most searched stock, maintaining steady growth throughout the year. Despite service outages and exposure to a money laundering scandal, the bank reported a record high income of S$5.2 billion in the third quarter of 2023, reflecting a commendable 16% year-on-year jump.
4. Tesla Inc (TSLA)
Tesla, a global automotive and clean energy player, secured the fourth spot. After a challenging 2022, Tesla rebounded with a 143% increase in share prices in 2023 year-to-date. However, the company’s net income experienced a 43.7% decline year-on-year, reaching US$1.853 billion.
5. Alibaba Group Holding Ltd (BABA)
Alibaba, a powerhouse in e-commerce and technology, clinched the fifth position. The company reported a notable comeback with a net profit of US$3,659 million in the quarter ending Sept 30, rebounding from a net loss of US$3,157 million in the same quarter last year.
6. Keppel Corporation Ltd (BN4.SI)
Keppel Corporation secured the sixth spot, making waves with its announcement of acquiring a 50% stake in European real estate manager Aermont Capital for up to S$517 million. The company reported strong performance for the first nine months of 2023, with revenue reaching S$5,274 million.
7. Wilmar International Limited (F34.SI)
Wilmar International, a key player in Asia’s agribusiness sector, earned seventh place. Despite a 59% year-on-year drop in net profit for the third quarter of 2023, interest in the company was piqued when its co-founder invested S$3.7 million to buy stock at an average price of S$3.57.
8. SATS LTD. (S58.SI)
SATS LTD., a prominent Singapore airport service company, secured the eighth position. The blue-chip company reported a substantial increase in revenue, reaching S$2.5 billion in the first half of the year ending Sept 30, marking three times the figure from the previous year.
9. United Overseas Bank (U11.SI)
United Overseas Bank (UOB) clinched the ninth spot, reporting a core net profit of S$1.48 billion for the third quarter ending Sept 30. The bank’s fee income, driven by loan-related and credit card fees, nearly reached an all-time high in the same quarter.
10. Nio Inc. (NIO)
Rounding off the top 10 is Nio Inc., a multinational automobile and technology company. Facing the headwinds of an EV price war ignited by Tesla, Nio Inc. grappled with a 10.8% year-on-year increase in net loss, amounting to US$624.6 million in the third quarter ending Sept 30. /TISG