Weak factory activity drags manufacturing-related stocks on Singapore exchange: report

Firms expected to benefit from the AI boom in 2024 and beyond.

Stocks in the iEdge SG Advanced Manufacturing Index saw total year-to-date returns fall 6.6% compared to the flat returns recorded in the benchmark Straits Times Index (STI) as of 24 November, a recent report by the Singapore Exchange (SGX) showed.

The SGX report traced the decline to a weak manufacturing sector, noting that Singapore’s industrial production in the electronics sector for the 10 months through October remained 4.6% lower than its performance a year ago.

“This year, semiconductor companies have been increasingly contrasting the 2023 overcapacity and chip glut with potential demand for semiconductors and semiconductor services spurred by Artificial Intelligence (AI) applications in 2024 and 2025,” it said.

Year to date, there were around three decliners to every two gainers in the iEdge SG Adv Manufacturing Index. Electric vehicle firm NIO, electronics services provider Venture Corporation and marine engineering group Seatrium suffered the biggest drops among the 10 biggest firms in the index, booking an average of 23% decline in total return.

Tech firm ST Engineering and shipbuilder Yangzijiang Shipbuilding, meanwhile, bucked the trend after booking 17% and 13% in total returns, respectively.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit