Singapore’s technology sector has experienced a remarkable rally, driven by global tech sentiment and increased AI infrastructure spending. Intel’s strong first-quarter results, with a 22% year-on-year rise in data centre and AI revenue, have bolstered confidence in the sector. This aligns with the Singapore Semiconductor Industry Association’s view that AI growth is moving towards scaling and deployment readiness.
Nanofilm Technologies International emerged as the top performer, with a 166% price gain in April. The company’s recent business update highlighted revenue growth and cost control, reinforcing its focus on core sectors where its technology adds value. This approach has been supported by OCBC research, which emphasised cost control and cash flow discipline as key to its performance.
The FTSE ST Technology Index has posted an 18% gain for April, marking one of its strongest monthly performances. This surge has also lifted the iEdge Singapore Next 50 Liquidity Weighted Index by 9%. The global backdrop, with the PHLX Semiconductor Index showing significant advances, reflects the intensity of capital repricing in the semiconductor sector.
Venture Corporation, Singapore’s largest technology stock by market capitalisation, continues to focus on disciplined operating performance and selective investment. Its design-led manufacturing model supports a strong net-cash position, enabling balanced capital allocation.
Trading activity and institutional participation have risen sharply, with the 30 most traded technology stocks averaging a daily trading turnover of S$123m. Net institutional inflows have reached S$297 million, reversing outflows from the previous year. This reflects a broader shift towards prioritising delivery capability and financial resilience in the sector.
