Offshore interest in Chinese equities boosts SGX China A50 futures
Singapore
REFLECTING the recovery of offshore interest in Chinese equities, the open interest of the Singapore Exchange (SGX) China A50 Index Futures surged to a 17-month high last month.
An SGX market update said that the open interest hit a notional US$2.2 billion in June, up 21.1 per cent from May. The value was the highest since February 2013.
In addition, average daily turnover for the month grew 21 per cent to US$762 million. This translates to about 115,000 contracts daily.
"Compared to the previous half year, average daily turnover has grown by over 24 per cent in terms of notional value traded," said SGX. "Turnover of other China A-share ETFs (exchange traded funds) has also increased between 17…
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