Global technology stocks, in addition to e-commerce retailers make up approximately 25% of the FTSE Developed Index, with the slump in these industries in 1Q22 and 2Q22 driving the decline of the broader Developed economy benchmark through the end of June. For the first six weeks of 3Q22, the 10% gain of the FTSE Developed Index has largely hinged on the Philadelphia Semiconductor index (SOX) generating a 19% total return.
Similarly, among the 40 largest Index weights of the indicative iEdge SG Advanced Manufacturing Index, the 10 best performing stocks for the past six weeks have included seven technology stocks. These have included Aztech Global, UMS Holdings, Frencken Group, Venture Corporation, ISDN Holdings, Valuetronics Holdings, and AEM Holdings. Together the seven stocks averaged 9% total returns over the six weeks, reducing their average decline in total return to 12%.
Strongest Performing 10 Stocks with significant Manufacturing Activity in 3Q22-to-date |
Code |
Total Return QTD % |
Net Insti Flow YTD (S$M) |
Total Return YTD % |
Total Return 31 Dec 2019 - 12 Aug 2022 |
Aztech Global |
8AZ |
15 |
-9.1 |
13 |
N/A |
UMS Holdings |
558 |
10 |
-51.9 |
-18 |
63 |
Frencken Group |
E28 |
10 |
-44.9 |
-36 |
43 |
Venture Corp |
V03 |
9 |
-76.8 |
2 |
25 |
China Sunsine Chemical Holdings |
QES |
8 |
-1.3 |
2 |
1 |
Food Empire Holdings |
F03 |
8 |
-4.7 |
-25 |
-5 |
ISDN Holdings |
I07 |
7 |
-4.1 |
-28 |
133 |
Valuetronics Holdings |
BN2 |
6 |
1.4 |
2 |
-24 |
Delfi |
P34 |
6 |
-4.5 |
7 |
-11 |
AEM Holdings |
AWX |
6 |
-42.4 |
-16 |
128 |
Average |
|
9 |
|
-10 |
39 |
Source: SGX, Refinitiv, Bloomberg (Data as of 12 August 2022)
After the 12 Aug close, three of the above seven stocks associated with the Technology Sector - AEM Holdings, UMS Holdings and ISDN Holdings reported 1H22 results.
Relevant drivers for the Sector going into 2023 include downstream orders and further downstream consumer demand, the sub-drivers of 5G and automotive markets, as well as cloud services and data centres, while potential supply chain disruptions and labour costs on the inflation front.
Chart | Stock Name | Last | Change | Volume |
---|
Created by SGX | Sep 12, 2024
Created by SGX | Sep 09, 2024
Created by SGX | Sep 03, 2024