Communication Services, a formerly stodgy sector, is now rivalling Tech

WHAT is 2024’s top-performing global sector? With AI hype and hope dominating, you know it is Tech. But right behind, clobbering all else, is less-seen and little-known Communication Services.

While present in Singapore, it is largely absent from the Straits Times Index (STI) – partly explaining the index’s 9.2 per cent year-to-date return through Jul 29, lagging global stocks’ 14.4 per cent.

So what is this sector? And can its hot run last? Yes… and no.