August’s IT Sector Gains Coincided with Strong Electronics PMI
SIPMM reported last night that Singapore’s electronics cluster’s PMI posted a reading of 53.2 in August, up from July’s reading of 52.2 and the highest recorded reading since November 2010. The largest capitalised stock of Singapore’s IT Sector - Venture Corporation - will join the STI Reserve List on 18 September. With a market capitalisation of S$4.5 billion, Venture makes up a third of the combined market capitalisation of the IT Sector. Institutional net buy flows into Venture over the last eight months totalled S$103.2 million.