📊SGX Market in April: Fund Flows, Yield Plays & Hidden Growth Names

Hi Tigers 👋

Singapore’s market may look “quiet” on the surface — but beneath that stability, there are actually some interesting shifts happening.

So the question is:

👉 Where is the money flowing, and where are the real opportunities now?

Let’s break it down.

1. 📊 Market Overview: Stability with a Positive Bias

The $Straits Times Index(STI.SI)$ is showing steady resilience:

• YTD: +6.7%

• Trading close to its 52-week highs

Compared to global markets, Singapore continues to stand out as a low-volatility, defensive market.

At the same time, the macro backdrop is quietly improving:

• 3M SORA declining → easing liquidity conditions

• SG 10Y bond yield ~2.2% → relatively stable rate environment

💡 What does this mean?

Lower rates + stable yields = supportive environment for income assets, especially REITs and infrastructure plays.

2. 💰 Fund Flows: Smart Money Is Coming Back

One of the biggest signals this week is the shift in fund flows:

🏦 Institutional Investors

• Net BUY: +S$33.0m

• (vs -S$121.1m last week)

🧑💻 Retail Investors

• Net SELL: -S$27.5m

• (vs +S$95.9m last week)

💡 Interpretation:

• Institutions are turning buyers again

• Retail is taking profit / stepping back

This kind of divergence usually suggests:

The market is gradually shifting back to institution-led positioning

3. 🧠 Key Investment Themes in Singapore

Last week, we mentioned three key investment themes:

👉Click to read the article: 📊 SGX Outperforms U.S. Stocks: Q1 2026 Key Themes, Events & Q2 Outlook

From the data, three clear themes are emerging:

1️⃣ Yield Is Back in Focus

• REITs continue to offer ~6%+ yields

• Attractive under a stabilising rate environment

2️⃣ Infrastructure = Defensive Growth

• Stable cash flows

• Inflation pass-through mechanisms

• Strong long-term demand

3️⃣ New Growth from Structural Trends

• Digital infrastructure

• EV adoption

• Urbanisation

📈According to the report, two stocks were prominently mentioned.

🟢 Stock Focus 1: $Keppel Infrastructure Trust(KPLIF)$

Positioning: High Yield + Defensive Growth

KIT remains one of the more compelling infrastructure names in Singapore.

📈 Key Highlights (FY2025)

• Distributable Income: +24.4% YoY → S$249.5m

• DPU: 3.94 cents (stable)

• Dividend Yield: ~8%

• Total unitholder return: 17.2%

🧱 Business Strength

KIT’s portfolio spans four core segments:

• Energy Transition

• Environmental Services

• Distribution & Storage

• Digital Infrastructure

These are essential services, which means: ✔ predictable demand ✔ stable cash flows ✔ resilience across cycles

🚀 Growth Drivers

• Expansion into digital infrastructure

• Exposure to subsea cable market (via Global Marine Group)

• Benefiting from AI and connectivity demand

💡 Investment Take

• Trading at:

  • ~35x forward P/E

  • ~2x P/B

• Yield remains attractive despite higher valuation

👉 Overall view:

A solid income + stability play, suitable for long-term allocation.

🟡 Stock Focus 2: $Skylink(XZB.SI)$

Positioning: Small-Cap Growth + EV Theme

Skylink is a lesser-known name, but its business model is quite interesting.

📊 Business Model

An integrated platform across:

• Commercial vehicle leasing

• Hire-purchase financing

• Engineering services

💡 Key advantage:

A self-reinforcing ecosystem generating recurring revenue

🚗 EV Transition Momentum

The company is actively benefiting from green mobility trends:

• Secured new EV-related contracts

• Deployed 43 EV units in 4Q2026

• Strong pipeline of new EV leasing demand

Rising diesel prices are also:

👉 accelerating customer transition to EV

💰 Financial & Risk Profile

• New loan books → higher yields

• Bad debt provision <0.5% (very low)

• Revenue visibility supported by long-term contracts

📈 Valuation

• Market cap: ~S$50m

• P/E: 14x

• Target price upside: ~95.8%

👉 Investment angle:

A high-beta small cap with exposure to EV adoption and SME activity in Singapore.

💬 Would you pay attention to this kind of stock, or do you prefer large-cap, more stable names?

Overall, the Singapore market remains a key destination for income-focused investing in Asia. Institutional capital is flowing back, yield plays are becoming more attractive, and new growth themes are starting to emerge (EV / digitalisation). At the same time, multiple REITs are still offering 6%+ yields.

In short, it can be summed up in three keywords:
Stability · Yield · Structural Growth

📌 So what other opportunities are there on the SGX?

If you had to choose now, how would you position yourself in the Singapore market?

• 🏦 Focus on income (REITs / KIT)

• 🚀 Go for growth (Skylink / small caps)

• 🧠 Or stay on the sidelines?

Feel free to share your thoughts in the comments 👇