The 30 most traded stocks have averaged a 29% YTD gain.
Regional manufacturing activity has continued to outpace in early 2021, with both supply and demand drivers contributing to relevant stock price performances over the past five weeks, according to the Singapore Exchange (SGX).
Singapore’s 30 most traded stocks that maintain manufacturing-related businesses have averaged a 29% year-to-date (YTD) gain, with a less skewed median gain of 16%. Whilst the 30 stocks comprise 14% of the total market capitalisation of all SGX-listed stocks, they have contributed 25% YTD to average daily turnover.
Whilst demand for medical supplies and technology equipment have been some of the drivers of the goods producing stocks, more recent catalysts include growing supply chain efficiencies, rising commodity and food prices, and expectations for economic rebounds, particularly in China.
Advanced estimates noted that the manufacturing sector grew 7.1% in 2020, rebounding from a 1.4% decline in 2019.
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