Getting to know tech stocks

STEP onto a train in Singapore these days and count the number of people looking at devices in their hands or attached to a set of earphones. Perhaps it is easier to count those who aren't doing so.

When we think of technology, our first thoughts usually centre on consumer products and applications. By definition, technology is the art of combining science and existing equipment to solve problems or make things more efficient. While consumer gadgets hog the limelight, large corporations and government agencies in Singapore spend billions each year ensuring they have the most up-to-date technology to optimise their operations.

In economics, there is an intimate relationship between technological advancements and an increase in production. Singapore's own history of rapid economic development owes much to the good use of technological innovation across a wide range of sectors, such as telecommunications, transport, engineering and financial services. Technological innovation and its successful implementation are also what help companies listed on the Singapore Exchange (SGX) to maintain their competitive edge.