With four sessions remaining in April, the FTSE ST Technology Index has posted a month-to-date gain rarely seen across its near 20-year history. For the month, the Index is up 18% through 24 April, placing the move among its five strongest monthly performances on record. This has also lifted the iEdge Singapore Next 50 Liquidity Weighted Index, which has gained 9% over the same period. The global backdrop has been even more pronounced, with the PHLX Semiconductor Index (SOX) delivering a month-to-date advance well above typical historical ranges, reflecting the intensity of capital repricing across the global semiconductor stack. Global Technology Backdrop: From AI Spend to Physical Deployment Globally, technology and semiconductor sentiment continued its rally last week after