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Tech stocks slowly gaining prominence in Singapore's market

Bloomberg
Bloomberg11/29/2020 06:21 PM GMT+08  • 4 min read
Tech stocks slowly gaining prominence in Singapore's market
Technology stocks, the lack of which made Singapore one of Asia’s worst markets this year, are starting to win more clout.
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Technology stocks, the lack of which has made Singapore one of Asia’s worst markets this year, are slowly starting to win more clout in the city-state.

The Southeast Asian market has had three distinct developments to show for it, all within a span of a month or so. Put together, companies tied to these moves have a market value of about US$93 billion ($124.41 billion), according to data compiled by Bloomberg.

  • A change in MSCI Inc.’s rules has potentially paved the way for internet giant Sea Ltd.’s entry into the MSCI Singapore Index
  • Data center operator Keppel DC REIT has has become the third tech company to be a part of the nation’s benchmark Straits Times Index, joining electronics contract manufacturer Venture Corp. and high-tech building owner Mapletree Industrial Trust
  • Smartphone solutions provider Nanofilm Technologies International Ltd. went public in Singapore’s largest primary listing since 2017 excluding real estate investment trusts

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