Chip Eng Seng has the biggest return of 9% by 1 October.
This chart from the Singapore Exchange (SGX) shows that the five largest construction and engineering stocks focused on Singapore development saw a 3% gains in October.
Their total returns were seen at -2.2% for Wee Hur Holdings, -0.6% for Boustead Projects, 3.8% for Lian Beng, 5.1% for KSH, and 9% for Chip Eng Seng.
According to SGX, the said stocks have a recent history to follow the trend of the Singapore property cycle. They have greater on average swings compared to property developers and managers.
“As illustrated, this was observed with outperformance in 2017, underperformance in the 2018 YTD, in addition to the 1 October session,” SGX explained.
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