Semiconductors power up Singapore's manufacturing output in October

Its production spiked 41.7% in October.

The semiconductors production has once again sparked a boost in Singapore's manufacturing output, which saw a 1.2% expansion in October.

According to Economic Development Board, the electronics cluster was a bright spot, as its output in October increased 24.6% YoY, after 17.9% YoY growth in September 2016.

Within the cluster, the semiconductor segment was the strongest, with output rising 41.7% YoY in October, building on the 35.9% YoY expansion seen in the previous month.

With this, a report from the SGX My Gateway said Singapore-listed stocks averaged a total return of 21.3% in the year-to-date. It tagged AEM Holdings, Avi-Tech Electronics, and Sunright as the best performers for the period.

"The strength in Singapore’s semiconductor sector is in line with data from the Semiconductor Industry Association (SIA), which showed global semiconductor sales reaching US$88.3 billion – the industry’s highest-ever quarterly sales – in CY3Q16, reflecting a QoQ growth of 11.5%," the report explained.