SINGAPORE - A more optimistic economic outlook in China is benefiting Singapore-listed companies with exposure to the country.
A report yesterday noted that 180 of the companies listed here generate at least 20 per cent of their revenue from the mainland while 80 per cent derive half or more of sales from there.
It added that 16 of the 20 largest capitalised stocks with at least 50 per cent of revenue generated from China have had positive price returns so far this year.
This comes on the back of China's 2017 GDP forecast, which was upgraded to 6.7 per cent in August.
The SGX My Gateway report noted: "Some of China's growth drivers for the economy include its One Belt, One Road Initiative, supply-side structural reform, state-owned enterprises reform, growing middle-income class and domestic consumption, and the 'Made in China 2025' new economy programme."
The five best performing Singapore-listed stocks included contract manufacturer Hi-P International, which was up 165.7 per cent, printed circuit board manufacturer Elec & Eltek International, ahead with 66.4 per cent, and China Sunsine Chemical, which produces rubber accelerators in China. Its shares rose 59 per cent.
Warehouse provider Global Logistic Properties had shares rise 49.1 per cent and developer Yanlord Land Group, up 25 per cent, rounded out the top five.