DESPITE global headwinds, eight most actively traded manufacturing stocks in Singapore averaged a 16 per cent year-to-date return in 2019 as at Oct 4, and received more than S$510 million in net institutional inflow combined during this period, the Singapore Exchange said in a research note on Monday.
"Just as manufacturing contributes at least 20 per cent to Singapore's GDP , eight of Singapore's 40 top stocks by turnover over the first nine months of 2019 maintained a manufacturing focus," SGX noted. For AEM Holdings and Hi-P International, both stocks saw similar net institutional inflow totalling S$25 million for the first nine months of 2019. AEM Holdings previously reported that as at Sept 12, the company had received sales orders worth S$280 million for delivery in the financial year ending Dec 31. Its management has also revised its revenue range upwards to between S$285 million and S$305 million for FY2019, versus revenue of S$262 million for FY2018.
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