Creative Technology recorded a 46.2% return in January YTD.
This chart from the Singapore Exchange (SGX) shows that Singapore’s top five information technology (IT) performers saw average an average return on 26.6% in 2019 YTD. Their 1Y and 3Y total returns were 63.4% and 146.1%, respectively.
Tech firm Creative Technology saw the highest YTD returns of 46.2%, followed by Chuan Hup (25.2%), Silver Axis (22.9%), UMS Holdings (20.2%) and Venture Corporation (18.2%).
Meanwhile, the 10 largest IT stocks on SGX were found to have a combined market capitalisation of over $12b, spanning sub-segments such as computer hardware, electrical components to specialty finance. Venture Corporation topped the IT stocks with a market capitalisation of $4.75b.
SGX noted that the IT sector was the second best-performing segment in January after Utilities with a total return of 13.5%, reversing December’s negative total return of 4%.
“The IT sector was also amongst the top net buy sectors in January, after REITs, Consumer Staples, and Consumer Discretionary, garnering institutional inflows of $33.1m,” SGX said. “The sector’s net inflow also marks a reversal of four straight months of net selling by institutional investors between September and December 2018.”
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