The rally comes after China posted better than expected Q1 GDP growth figures.
The top ten largest SGX stocks that have a majority of their revenue or base most of their assets in China are showing signs of bouncing back after outpacing the Straits Times Index (STI) with an average of 24.5% in total returns from a decline of 21.5% in 2018, according to SGX.
The move comes after China saw better-than-expected GDP growth in Q1 at 6.4% following rebound in industrial production, new loans and consumer sentiment.
The three best performers YTD were Hi-P International, China Aviation Oil Singapore and Yangzijiang Shipbuilding which saw returns of 65.0%, 37.7% and 27.2% respectively. Citic Envirotech, Yanlord Land Group and Wilmar International also saw strong returns of 21.1%, 23.8% and 18.3% respectively.
Close to 200 stocks listed on SGX reported somewhere between 10% and 100% of their last financial year revenues to China.
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