10 most traded tech stocks averaged 3.8% gains in the past week: SGX
SGX also recorded a combined $32m of net institutional inflows.
The 10 most traded technology-related stocks averaged 3.8% gains last week whilst booking a combined $32m of net institutional inflows, capital market firm, Singapore Exchange, said.
This after the more semiconductor-related stocks of AEM Holdings, UMS Holdings, Frencken Group, ISDN Holdings and Grand Venture Technology averaged 4.4% gains in the past week whilst the Straits Times Index was flat.
Venture Corporation posted the highest net institutional inflows for the week, followed by manufacturer, Singapore Technologies Engineering.
The Lion-OCBC Securities Hang Seng Tech exchange traded fund (ETF), meanwhile, became the most traded ETF counter last week with $9.3m, representing 22% of total ETF market trading turnover.
In the Asia-Pacific region, SGX said technology stocks also logged the strongest gains in close to 40 weeks.
“Like their global peers, regional technology stocks are on average trading at a 20%-25% discount to their end-2021 earnings multiples,” it said.