Singapore Exchange (S68.SG) heads back into positive territory, +2.5% at $8.13 vs down 0.1% at $7.92 midday, on hopes of increased trading activity in Singapore as bourse operator enables American Depository Receipts of 19 major Asian companies to be quoted in Singapore from Oct 22, according to Dow Jones.

Move, announced during lunch break, will allow investors to act on newsflow about companies like Baidu, Aluminum Corp of China, China Eastern Airlines, China Mobile during Asian hours.

Prices fully fungible with US-listed ADRs. Move strategic given declining securities trading volume, value.

Based on latest available statistics, average daily turnover in August down 19% on year at $1.51 billion, while daily volume down 35% at 1.62 billion shares. Daiwa, which has Outperform call with $8.94 target, expects trading of depository receipts in Singapore to boost total securities trading value by 25%. Resistance eyed at $8.27 (Apr. 30 high).