The information technology sector is well ahead of the pack on the Singapore Exchange (SGX) this year, the bourse said yesterday.
The sector, which comprises about one-tenth of Singapore-listed stocks, was the best performer last month with a 5.3 per cent total return as weighed by market capitalisation.
Its indicative return over the first seven months of the year came to 47.7 per cent - well ahead of the 17.6 per cent total return generated by the Straits Times Index over the same period.
The sector's return was also about 10 percentage points higher than the next best-performing segment - the materials industry - and nearly twice as much as the property or banking sectors alone.
Most tech stocks here are associated with hardware manufacturing, the SGX noted in its My Gateway update. But it added: "While semiconductors and technology hardware manufacturing are traditional strongholds of Singapore, they form a foundation as disruptive technologies proliferate."
The growth of the sector's market capitalisation-weighted total return came on the back of electronics provider Venture's performance as the sector's largest capitalised stock. It has a market cap of $3.7 billion and a return of 38.6 per cent in the year to date.
Meanwhile, contract manufacturer Hi-P International has led for total return so far, at 101 per cent, with a market cap of $822 million. Its share price has doubled since the beginning of the year.
Over the last seven months, net institutional inflow into the information technology sector totalled $65.2 million - the third-highest amount, after financial stocks at $2.2 billion and property at $300.9 million.