Largest IT stocks buck market downturn with 8.3% year-to-date gain

Who were the best performers?

Singapore’s 20 largest tech stocks averaged an 8.3% total return in the year thus far, according to a report from the SGX.

This brings their three-year returns to a whopping 48.6%. In comparison, the FTSE Asian Sector Technology Index, which comprises Asian companies categorised to the Technology industry, generated a marginal decline in the month of November. This takes the Index’s year-to-date return to a negative 7.5%.

Of these stocks, the five best performers year-to-date were IPS Securex Holdings, 8Telecom International Holdings Co., Memtech International, Valuetronics Holdings and iFAST Corporation.

Together, these five stocks averaged a staggering total return of 67.0%, with the median return being 37.9%.