Trading of SGX stocks on online brokerage Futu up six-fold since March

FUTU Singapore, the subsidiary of Tencent-backed and Nasdaq-listed Futu Holdings, has seen rising retail participation on the Singapore Exchange (SGX) since the launch of its trading platform in March 2021, with the local banking trio and Covid-hit Singapore Airlines among the top five stocks traded.

Data from over 100,000 customers of Futu's moomoo investment platform showed that the number of trades executed on SGX grew by over six-fold from March 2021 to July 2021, with the monthly rise averaging at 60 per cent.

The trading value on SGX also jumped five times in the same period, while derivatives' total traded volume also increased five-fold between just June and July, said Futu in a statement on Monday.

The top 10 most-traded Singapore stocks in descending order are: DBS, Singapore Airlines, OCBC, iFast Corporation, UOB, Singtel, Lion-OCBC Securities, City Developments Limited, SGX and Wilmar International.

"Investors here have a very high level of interest in the Singapore stock market, and their confidence and support of SGX-listed stocks is not waning during the ongoing pandemic, but in fact, increasing in the past few months," said Gavin Chia, managing director of Futu Singapore.

Its moomoo trading platform - which allows trading in Singapore, US and Hong Kong markets - garnered over 100,000 Singapore-based paying users in less than three months.

Futu Holdings currently has over 15 million users globally.