Equities Bucked October Effect, The Straits Times Index STI Posted 4% Rebound
Aside from the broad market drivers, gains by Asia Pacific’s largest capitalised hi-tech hardware stocks in October coincided with 5G roll outs ahead of schedule globally. Significant gains were also observed with AEM, Hi-P International, UMS. Singapore’s 50 most traded stocks by turnover in October, also averaged 4% gains in October. The top performer of the 50 stocks in the month of October was Rex International Holding. On October 16, the Catalist-listed stock announced an oil and gas discovery had been made from exploration and appraisal wells drilled in the Norwegian Sea.