IT SECTOR THIRD-BEST PERFORMING ON SGX, SINGAPORE

SINGAPORE (Nov 24):

It is holding up well after consumer staples, materials despite uncertain global market :

Information technology (IT) stocks listed here have held up notably well amid growing uncertainty across global markets, making up the third-best performing sector on the Singapore Exchange (SGX) so far this year.

The sector has turned in total returns of 15 per cent from the start of the year to Oct 31, easily surpassing the Straits Times Index's (STI's) 1 per cent, said SGX vice-president of research and products Lionel Lin at a recent briefing.

Total returns from the sector in the last five years are 83 per cent, well up on the STI's 14 per cent.

The two better-performing sectors so far this year are consumer staples, which has delivered total returns of 26 per cent, and materials with total returns of 20 per cent.


"Many investors are familiar with REITs, healthcare and consumer stocks listed on the SGX, and may have overlooked the IT sector's year-to-date outperformance amid the global economic  uncertainty".

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