(Singapore, 17 Mar 2021) – Ten most traded healthcare stocks listed on both the SGX and the Catalist gained 12% year-to-date (12 March 2021), according to the Singapore Exchange’s market strategist Geoff Howie.
A number of these stocks are Shariah-compliant, according to BOURSA, (https://www.halaluniverse.net/boursa/) an equities screening tool developed by California-based company Idealratings.
These counters include Top Glove Corp Bhd (BVA), Riverstone Holdings (AP4), UG Healthcare Corp (8K7), Raffles Medical (BSL), Haw Par Corp (H02), Singapore Medical Group (5OT)and Vicplas International (569).
Some of the companies have zero non-permissible income, which means there is no necessity for Shariah investors to purify income from their shareholding.
According to SGX’s Howie, Thomson Medical Group (Code: A50) gained 112% year-to-date making it the strongest performer of the 10 most traded companies year-to-date, followed by Q&M Dental Group.
Among all healthcare related stocks listed on SGX, both companies too have been recipients of funds from institutional investors – Thomson Medical received an inflow of $23.1 million, while Q&M received S$21.6 million.
Amongst the Shariah-compliant counters, Riverstone Holdings rose 20% YTD with an inflow of S$17.3 million of institutional investors funds. Haw Par Corp is next posting a gain of 20% YTD and funds inflow of S$13.7 million.
Thomson Medical Group reported a turnaround profit-after-tax of S$9.7 million for its 1HFY21 (ended 31 Dec) and on 1 Mar, Q&M Dental Group reported a 322% increase in net profit attributable to shareholders.
Top Glove Corp Bhd (Code: BVA) was the biggest loser with its value pared 14% YTD. Some S$40 million of institutional investors’ funds flew out of its shares.
Top Glove noted last week global glove demand is estimated to grow from a pre-pandemic level of 10% per annum to about 15% per annum post-pandemic.
Over the past 10 weeks, global healthcare stocks have generated a 3% median gain, while Asia Pacific healthcare stocks generated a 3% median decline, Howie said. -/-
