The Singapore Exchange (SGX) reported on Sept 12 that the total securities market turnover value for August came in at $24.32 billion over 22 trading days.
This was 7.4% lower y-o-y compared to the total securities market turnover value of $26.26 billion in August 2021 over 21 trading days.
On a m-o-m basis however, August’s turnover value climbed 35% from $18.02 billion.
In cash equities, securities daily average value (SDAV) fell 11.6% y-o-y but climbed 22.6% m-o-m to $1.11 billion.
The market turnover value of structured warrants fell 44.3% y-o-y to $258 million while daily leverage certificates (DLCs) gained by 120% y-o-y to $351 million. On a m-o-m basis, the value of structured warrants fell by 3.4% m-o-m while the value of DLCs gained by 36.6% m-o-m.
In its statement, SGX says that the broad pickup in securities market turnover came on the back of the corporate earnings season and a strong month-end rebalancing. Institutional portfolio rotation led to an estimated $750 million in net institutional inflows in August, the highest since January and mainly into the financials and consumer sectors.
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In August, the market turnover value of exchange-traded funds (ETFs) fell by 45% y-o-y and 33.3% m-o-m to $252 million.
Derivatives traded volume rose 4.5% y-o-y but fell 0.54% m-o-m to 20.4 million contracts. Derivatives daily average volume climbed 2% y-o-y but fell 6.6% m-o-m to 921,170 contracts.
During the month, total foreign exchange (forex) futures traded volume rose by 31% y-o-y and 3.8% m-o-m to 2.6 million. This was led by a 45% y-o-y jump in SGX USD/CNH futures to 1.2 million.
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SGX INR/USD futures volume climbed 17% y-o-y to 1.3 million contracts amid volatility in the Indian rupee.
The volume of SGX FTSE China A60 Index Futures fell 10% y-o-y but rose 2% m-o-m to 8.0 million even as China’s official manufacturing gauge remained in contraction in August, fanning uncertainties over the outlook for Asia’s leading economy.
During the month, total equity index futures volume on SGX Equity Derivatives fell 4% y-o-y and 0.05% m-o-m to 13.8 million contracts.
On a y-o-y basis, SGX Nifty 50 Index futures volume gained 14%, SGX Nikkei 225 Index Futures volume increased 17%, while SGX MSCI Singapore Index Futures volume climbed 8%.
On SGX Commodities, total screen volume rose to a record 1.1 million lots in August as adoption grew from an expanding pool of financial participants.
Total commodity derivatives volume gained 29% y-o-y to 3.3 million contracts.
Meanwhile, benchmark iron ore derivatives volume surged 35% y-o-y to 2.9 million contracts.
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SGX SICOM rubber futures, the world’s pricing bellwether for natural rubber, climbed 22% y-o-y to 167,262 contracts. Month-end open interest in the pioneering suite of dairy derivatives surpassed 125,000 lots, the highest since its launch in November 2021.
On SGX Fixed Income, the amount issued from 37 new bond listings stood at $5.9 billion in August, with highlights including the Singapore government’s $2.4 billion 50-year inaugural sovereign green bond. Other bond listings during the month included KT Corporation’s US$500 million ($699.2 million) notes due 2025 and Macquarie Group’s $500 million senior bonds due 2026.
In August, the benchmark Straits Times Index (STI) increased by 0.3% m-o-m to 3,221.67 in August. The STI saw a year-to-date (ytd) price return of 3.1%, outperforming the FTSE All-World Index.
As at end-August, the total market capitalisation value of 659 listed companies stood at $884.46 billion.
Shares in SGX closed 8 cents higher or 0.84% up at $9.65.
