Futures

Is bitcoin growing up? Regulated futures boom as investors seek a safer ride

SINGAPORE (June 17): When bitcoin was born, it was a symbol of counterculture — a rebel currency with near-anonymity and a lack of regulation. A decade later, there are growing signs it is entering the establishment its creators sought to subvert.

As the cryptocurrency has surged in value, bigger investors, from trading firms to hedge funds, have increasingly turned to exchanges regulated in traditional financial centres. They are buying bitcoin futures to gain exposure to the asset while avoiding the hacks and heists that plague the industry.

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Gold powers to 6-month high as turmoil spurs demand for haven

SINGAPORE (Dec 31): Gold is rallying into the end of 2018 as turmoil in global equities, the partial US government shutdown and concerns about the outlook for next year stoke demand, lifting prices to the highest in six months.

Bullion climbed as much as 0.4% on Wednesday, extending last week’s gain and on course for the biggest monthly advance since January 2017. Money managers are the most bullish on prices they’ve been in half a year.

SGX market turnover up 24% on-year to $26.7 bil in April

SINGAPORE (May 9): Singapore Exchange (SGX) saw a 24% year-on-year increase in total Securities market turnover value to $26.7 billion in April 2018.

Compared to March, the latest month’s total market turnover value was down by 4% month-on-month.

There were 21 trading days in April 2018 compared to 19 in April 2017.

Securities daily average value (SDAV) for April was up 12% y-o-y to $1.27 billion, but down 4% m-o-m.

Market turnover value of Exchange Traded Funds (ETFs) fell both y-o-y and m-o-m by 21% and 10%, respectively.

SGX shares opens near 7% lower on Nifty futures exit news

SINGAPORE (Feb 12): Shares in Singapore Exchange (SGX) opened at $7.40 -- nearly 7% lower than its Friday closing price of $7.89 -- following news that the Indian stock exchanges are intending to restrict the usage of Indian indices and market data by foreign exchanges, indices and data providers.   

The move will prevent SGX from continuing to offer derivatives based on India’s benchmark Nifty 50.

Singapore Exchange seeks to defuse tensions over National Stock Exchange of India in futures dispute

SINGAPORE (Feb 12): Singapore Exchange extended an olive branch to its counterpart in India as it sought to defuse escalating tensions that threaten to kill an 18-year licensing partnership.

SGX will work with the National Stock Exchange of India “toward solutions for global investors,” according to a statement on Sunday. It also noted that the two companies’ partnership goes back to 2000 and that they had collaborated “to develop and internationalize India’s capital markets.”

Buy S-REITs on dips as valuations remain stretched, advises OCBC

SINGAPORE (Aug 22): OCBC Investment Research is maintaining “neutral” on Singapore REITs (S-REITs) after all 24 REITs under its coverage reported 2Q17 results that came in line with its expectations, with overall distribution per unit (DPU) growth coming in flat.

Investors see oil break out of narrow range with record bets

Oil drums

NEW YORK (Feb 28): Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally.

Money managers boosted their bets on rising West Texas Intermediate prices to a record on speculation that the Organization of Petroleum Exporting Countries and its partners will manage to ease a global supply glut. America’s crude producers, which are increasing output, aren’t so sure. They’ve been hedging against price declines for this year and 2018.

Investors are pouring into gold

NEW YORK (Feb 3): The Federal Reserve has emboldened gold bulls.

Prices and trading volumes surged Thursday on call options giving holders the right to buy bullion at higher prices. On Wednesday, investors poured US$413 million ($583 million) into SPDR Gold Shares, the largest ETF backed by the metal, recouping almost half of the money that exited last month.

Yuan weakness is metals’ strength: Bloomberg Gadfly

SINGAPORE (Nov 17): Most commodities are denominated in, and therefore pegged to, the US dollar but these days the Chinese yuan is starting to have as much influence on prices.

While there were fundamental triggers behind the recent spike and drop in raw materials, it's becoming clear that Chinese trading was among the main drivers. Investors in the northeastern city of Dalian have been piling back into commodities in a replay of what happened earlier this year. That's partly because they're seeking to protect their global purchasing power as the Chinese currency loses value.

Uninspiring market, IPO dearth hurting SGX in near term

SINGAPORE (Oct 18): Credit Suisse is initiating coverage of the Singapore Exchange (SGX) with a “neutral” call and a target price of $7.60, citing lack of near-term catalysts.

Analyst Rikin Shah believes that SGX’s investment case lies in its long-term growth through equities and its Asian gateway strategy.

“Nearer term, its fortunes are more linked to the current level of market activity, which remains uninspiring, with a risk of further seasonal slowdown in 4Q,” says Rikin.

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