July SGX securities trading up 2% over previous month

THE total value of securities traded on Singapore Exchange (SGX) in July was S$21 billion, down 24 per cent from a year ago, but up 2 per cent month-on-month.

This uptick in securities trading for July is a reversal of the downward trend that has been on since the penny stock saga last October. However, market observers told BT that it is premature to say if trading volumes for July is a blip, or a sign of recovery.

Loh Hoon Sun, managing director, Phillip Securities, said: "Investors are now seeing better prospects for the market and hopefully it will continue. It (the July figure) doesn't indicate much. Hopefully it's a good sign as the Singapore market has been lagging behind compared with other economies such as the US."