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Nine STI Stocks With Increased Intraday Ranges in November 2015

Nine STI Stocks With Increased Intraday Ranges in November 2015

  • Nine STI stocks saw bigger daily trading ranges in terms of basis points in the month of November 2015, over the month of October.
  • The largest increases were observed by SIA Engineering Company, Global Logistic Properties and Singapore Exchange.
  • Together, the three stocks averaged a 6.5% decline in November and have averaged a 2.1% gain since November.

Historical volatility can be useful for showing an annualised percentage metric on how far the stock was able to swing in the past. For more information, click here for the market update - Twelve STI Stocks With Increased Intraday Price Ranges in October. For investors that seek to better understand the past swings of a stock in daily terms, there are two metrics they might look at – price movements in terms of ticks and basis points.  

Trading ticks represent the minimum trading unit. The price movement in terms of ticks can be calculated  by using the difference between high low prices and their corresponding minimum tick size. For instance if a stock’s first trade was the low at 1.50, and high was 1.53, it would mean that the average daily range was six price steps – 1.505, 1.51, 1.515, 1.520, 1.525 and 1.530.   

Price movement in terms of basis points show the daily ranges in terms of the notional value required to make the investment. For instance if a stock’s low for the session was 1.50 and high was 1.53, based on the minimum investment being 100 shares the minimum investment would be between $150 and $153. Hence expressed in terms of S$150 initial investment – the six price steps ticks, or 3.0 cents, would represent 2.0% otherwise referred to as 200 basis points.

The table below details the nine stocks of the Straits Times Index (STI) which saw an increase in their median daily high to low range in Nov 2015, expressed in basis points, over the month of October. For more information on the individual stock, click on the stock name to see its full profile on SGX StockFacts.

STI stocks that saw increased daily trading ranges in November 2015

Name SGX Code Oct 15 Daily Price Movement (Median) Nov 15 Daily Price Movement (Median)
In ticks In bps In ticks In bps
SIA Engineering Company S59 4 92 6 153
Global Logistic Properties MC0 5 218 6 240
Singapore Exchange S68 10 135 12 152
Singapore Telecommunications Z74 7 165 7 182
Singapore Airlines C6L 16 141 17 158
United Overseas Bank U11 28 138 31 154
Yangzijiang Shipbuilding (Holdings) BS6 5 218 5 229
CapitaLand Mall Trust C38 4 149 6 154
Thai Beverage Public Company Y92 2 147 2 149

Source: SGX & SGX StockFacts (Data as of 3 December 2015)

Note that over a period of time, a median value would show this stock's typical intraday price movement – without any skews that could emanate from one or two large range sessions. Because the measure is taken from high to low prices, rather than daily closing prices, the daily ranges represent intraday trading ranges.

The five STI stocks that maintained the biggest daily price movements in basis points in November were Noble Group, Genting Singapore PLC, Golden Agri-Resources, Global Logistic Properties and Yangzijiang Shipbuilding Holdings. In terms of ticks alone, the five stocks that exhibited the highest trading ranges over the aforementioned period were Jardine Cycle & Carriage, United Overseas Bank, DBS, Singapore Airlines and Hongkong Land.

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Geoff Howie
Geoff Howie

Mr Howie is the Singapore Exchange's Market Strategist - and the key contributor to the educational content and market insights of SGX My Gateway. He is also part of the Associate Faculty at SIM University,  educating students on the fundamentals of investing. 

He previously held lead broking and strategist roles across the Asia Pacific offices of a large international futures broker. Outside of his 15 year career in the financial markets he has also served as the Treasury Adviser to the Leader of the Queensland Liberal Party in Queensland Parliament.

Following High School in Hong Kong, he attended University of Queensland, receiving a Bachelors and Master's degree in Economics, the latter extending into deferred PhD work after receiving the highest grading for first-mover research and modelling conducted on the Shanghai economy.

Mr Howie's other notable achievements include receiving two Hong Kong Securities Institute Outstanding Achievers awards for the 2005 year.