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