SINGAPORE (Dec 10): Total securities market turnover has rallied some 22% on a m-o-m and y-o-y basis to $26.4 billion, according to the latest monthly market statistics released by the Singapore Exchange (SGX). 

In cash equities, securities daily average value (SDAV) rose 22% y-o-y to $1.26 billion, which also translated into a 28% increase on a m-o-m basis. This was due to continued investor focus on growth data points amid ongoing global trade discussions and the unchanged global interest rates outlook. 

On a foreign exchange (FX) front, volatility trended at an all-time low. SGX USD/CNH futures volume jump 38% y-o-y to 796,395 contracts on the back of increasing participation in Singapore markets amid ongoing US-China trade discussions. 

Total equity-index futures volume for the month rose 7% m-o-m to 13.1 million contracts in November, as volumes of FTSE China A50 Futures and MSCI Singapore contracts climbed 12% and 5% from the previous month respectively.

Interest in FlexC Futures, SGX’s customisable exchange-traded FX Futures, also gained traction in November as clients look to manage their currency risk. 

Secondary funds raised for November saw a twofold increase from the previous year. Total year-to-date secondary fundraising reached $7.2 billion, surpassing last year’s total by 16.2%. 

Trading turnover continued to strengthen in technology-related stocks and the Real Estate Investment Trust (REIT) sector. Index placement and secondary fundraising activity in the REIT sector continued to increase in tandem with the lower interest rates in 2019. 

Industrial stocks, spanning capital goods and services, also saw increased trading turnover over the month, and markedly saw the most net institutional inflows, compared to other sectors, for
November at $112 million. 

Notably, SGX’s pioneering high-grade (65% Fe fines) iron ore contracts saw open interest hitting a new record of 3.2 million metric tonnes during the month as hedging activity in the contract continued to grow. 

As at 3.25pm, shares in SGX are trading nine cents lower, or 1% down, at $8.90.