“Over the years, gross domestic product (GDP) growth in Asia-Pacific has increased at a rate much faster than that of the Americas and Europe. This has led to higher demand for technologically advanced products such as smartphones and computers. Increasing urbanisation has also led to the trend,” says Seet.
SINGAPORE (Aug 7): RHB Research has maintained its “overweight” rating on Singapore’s technology sector with an outlook that remains positive for the second half of 2017.
In a Monday report, analyst Jarick Seet recalls that Singapore’s manufacturing output’s 5% y-o-y rise in May was mainly due to a 35.1% increase in the electronics cluster’s output and strong export demand for semiconductor-related equipment – a trend which he expects to continue into 2H17 due to a few major product launches slated for the period, as well as in preparation for the festive Christmas season sales.
