SGX Market Updates
Tech Sector Leads Global Stocks in 3Q22-to-date, AEM Beats & Raises
15 Aug 2022
The first six weeks of 3Q22 has seen the technology sector lead the global stock market, after ranking as the laggard sector in both 1Q22 and 2Q22.
- The first six weeks of 3Q22 has seen the technology sector lead the global stock market, after ranking as the laggard sector in both 1Q22 and 2Q22. The six weeks have seen the SOX generate a 19% total return, after the declines for the preceding two quarters saw the global semiconductor benchmark decline 33%.
- Across the 40 largest Index weights of the iEdge SG Advanced Manufacturing Index, Aztech Global, UMS, Frencken, Venture, ISDN, Valuetronics & AEM have ranked among the strongest 10 performers of the past six weeks, averaging 9% total returns.
- After the Friday market close, AEM reported that it is on track for a record FY, revising FY22 revenue guidance to S$750 million to S$800 million, with revenue for 1H22 increasing by 181% YoY, and two new customer wins in high-performance computing/artificial intelligence and application processors for mobility.
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