Singapore’s yield appeal, bargain hunting: April’s hot stock trends revealed
Key points:
- Dividend rotation in focus: DBS, OCBC, and Singapore Airlines surged in trading as investors shifted toward yield and defensiveness amid macro uncertainty.
- Big Tech keeps the attention: Apple, Alphabet, and Microsoft saw renewed interest, signaling a rebound in mega-cap momentum and AI-related optimism.
- Tesla sentiment weakens: A sharp drop in Tesla trades reflects fading investor enthusiasm, with growth concerns outweighing speculative upside.
Most traded stocks in April by Saxo Singapore clients
The tech giants held their ground, but investor interest evolved:
- NVIDIA was the most traded stock again, despite waning enthusiasm around AI chips earlier this year. Trading surged 18% month-on-month, reversing the cooldown seen in February and March.
- Tesla slipped down the leaderboard as trading volumes fell sharply by 30%—extending the post-earnings hangover and reflecting continued EV demand concerns.
- Apple saw a 106% increase in trades, driven by new product buzz and investor appetite for quality megacaps.
- DBS Group jumped back into the top 5, thanks to Singapore investors’ rotation into local dividend plays.

Hot stocks of the month picked by Saxo Singapore clients
This month's "hot stocks" ranked by surge in trading momentum—not just volume—highlight a broader story: a rotation into Singapore dividend names and a bounce in sentiment around global consumer and travel stocks.
Dividend and Local Financials in Demand
- DBS Group Holdings Ltd saw a 644.9% surge in trading volume, the highest across all stocks. Investors flocked to this high-yield, low-volatility name amid rate cut speculation and strong earnings momentum.
- OCBC (+280.1%) and Singapore Airlines (+129.8%) also made it to the top ranks, suggesting growing local conviction trades.
Return of Global Quality and Growth
- Apple saw a renewed surge in interest (+106%), potentially driven by bargain hunting and portfolio defensiveness.
- Berkshire Hathaway and Disney both posted strong rebounds in trading activity, reflecting value-oriented positioning and bargain-hunting.

Key Takeaways
Singapore Inc. is back
DBS, OCBC, and SIA were among the hottest stocks in April—reflecting a return to yield and local conviction trades.
AI trade is broadening again
Nvidia remains the most traded stock, but attention is returning to mega-cap growth stocks like Apple and Microsoft.
Tesla fatigue continues
Tesla’s trade count fell 30% MoM, even as it remained one of the most traded names—suggesting fatigue after months of speculative activity. Post-earnings volatility and margin concerns are weighing on speculative interest, even as robotaxi hopes linger.
What to watch from here
- Will Nvidia's rally hold as AI chip rules tighten? Nvidia reports earnings on May 28.
- Can Singapore banks maintain momentum amid global rate cut bets?
- Will Apple’s WWDC buzz (scheduled June 9-13) and product pipeline extend the current trading surge?