TOTAL securities turnover value on the Singapore Exchange : S68 0% (SGX) fell 9.4 per cent in July to S$21.5 billion, from S$23.7 billion in June.

Meanwhile, total market turnover volume rose 1.6 per cent month on month to 29.6 billion securities from 29.1 billion securities. Year on year, volumes were up 45 per cent, while total market turnover value grew 19 per cent.

This came as the benchmark Straits Times Index (STI) outperformed most of the region, SGX said in its monthly market statistics report released on Thursday (Aug 17).

The STI climbed 5.2 per cent during the month to 3,373.98. It was also up 3.8 per cent for the first seven months of 2023, exceeding most regional South-east Asian equity indices.

Securities daily average value fell 13.7 per cent on the month to S$1 billion from S$1.2 billion, while volumes were down 3.2 per cent to 1.4 billion securities from 1.5 billion securities.

The bourse’s commodity derivatives traded volume hit a record high of 4.3 million contracts, up 17 per cent year on year.

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“Optimism of stimulus steps from the Chinese government to support the country’s post-pandemic rebound spurred trading activity, including among financial participants seeking to express their views on Asia’s biggest economy,” SGX said.

It noted that secondary fundraising was higher on the month at S$1.2 billion, as SGX-listed companies continued to tap the equity capital markets in July.

The market turnover value of exchange-traded funds fell 24 per cent year on the year to S$256 million from S$336 million, although volumes were up 6 per cent to 190 million securities.