In the year to March 15, 2021, the Straits Times Index ("STI") rose 9.2 per cent to 3106.0 points. Together with dividend distribution, the total return rose to 9.4 per cent.The index has rebounded to less than 20 per cent of its May 2018 high, up more than 20 per cent from its level at the end of October 2020.
The 120-day rolling correlation between the Straits Times index and the broader regional index, the FTSE ASEAN all-share index, has gradually fallen back from a high of 94% on March 23, 2020 to 73% on March 15, 2020. During 2020, the total return on the Hainan index fell 8.1 per cent, while the FTSE ASEAN all-share index fell 3.6 per cent. In contrast, as of March 15 in 2021, the total return of the HI was 9.4 per cent, while that of the FTSE ASEAN all-share index was 5.3 per cent.
Banking, real estate and industry account for more than 50 per cent of the FTSE ASEAN all-share index and more than 70 per cent of the Straits Times index. Singapore stocks account for 25 per cent of the FTSE ASEAN all-share index, and recent developments in global stock markets have been driven by expansionary monetary policy, vaccine deployment and expectations of an economic and corporate earnings recovery in 2021. The Fed's balance sheet has grown to $7.6 trillion, while the ECB's balance sheet now stands at 7.1 trillion euros.

As of March 15, 2021, retail investors have also been net sellers of HI components, recording a net outflow of S $1.008 billion, while these 30 stocks recorded a net inflow of S $7.5 billion in 2020.As of March 15, 2021, institutions became net buyers of these 30 HI stocks, recording a net inflow of S $399 million and a net outflow of S $5.2 billion in 2020. So far this year, market makers and liquidity providers have bought a net S $609 million of HI stocks, illustrating the difference in flows between retail and institutional flows.
As of March 15, 2021, the components of the HI that recorded the highest net inflows of retail investors were Mapletree Industrial Trust, Urban Development, Keppel data Center Real Estate Trust, startups and Comford High Enterprises.During the same period, the components of the HI that recorded the highest net outflow of retail investors (as a ratio of current market capitalization) were Yangzijiang Shipping, Xinxiang Group Co., Ltd., DBS Group Holdings, OCBC Bank and Singapore Airlines. During this period, the average price of the five stocks rose.Among them, Singapore Airlines, Yangzijiang Shipbuilding and Xinxiang Group Co., Ltd. were among the three stocks that recorded the highest net retail inflow (compared to the current market capitalization) in 2020.

This year's average daily turnover has exceeded S $40 million, an increase of 50 per cent from the 2020 level. Yangzijiang's share price has risen 43 per cent since the end of November 2020, in line with the 43 per cent rise in Brent crude.
As of March 15, 2021, the five strongest stocks in the Straits Times Index were Jardine Strategy, Singapore Airlines, Yangtze River Shipping, Land Holdings Limited and Jardine Holdings Limited. On March 8, Jardine Holdings Limited announced a plan to simplify the group's parent company structure, including the cash acquisition of 15% of the issued share capital of Jardine Strategy, which is no longer owned by Jardine Holdings Limited and its wholly-owned subsidiaries.

The total turnover of the ETFs so far this year has increased 88% year-on-year to S $553 million.

As of March 15, 2021, SPDR STI ETF accounted for 76% of the turnover of the two ETFs, and recorded a net outflow of S $25 million in the past 10 weeks, including S $67 million in applications and S $92 million in redemptions. Investors have sold and cashed out in the stock rally in recent weeks. During the same period, Nikko AM STI ETF recorded a net inflow of S $30 million, with a total purchase of S $33 million and a total redemption of S $3 million.

Investors use the cost average method (DCA) to make regular investments through the stock fixed investment (RSS) plan, which provides investors with a convenient way to invest a certain amount of money every month without waiting for the opportunity of the market. This method may offset the outflow of funds from the HSI ETF. It is worth noting that in the year to March 15, 2021, the total turnover of the two ETFs, which is used to track the sea index, increased by 88 per cent year-on-year to S $553 million.