SGX securities turnover value up 3.3% in June; derivatives activity at three-month high 

TOTAL securities turnover value on the Singapore Exchange (SGX) rose 3.3 per cent in June to S$23.7 billion, from S$23 billion in May.

Securities turnover volume, however, fell 5.6 per cent to 29.1 billion during the month, from 30.8 billion in May.

Year on year, total securities turnover value was down 7.4 per cent; volumes declined 10 per cent.

Securities average daily value stood at S$1.2 billion in June, up 13.7 per cent month on month, and 1.8 per cent year on year. Average daily volume increased 3.8 per cent month on month, but decreased 1 per cent year on year, to 1.5 billion securities.

Reinvested dividends in the first half of 2023 boosted the Straits Times Index’s total return to 1.2 per cent. The index was up 1.5 per cent to 3,205.91 in June, from the previous month.

Secondary fundraising, meanwhile, totalled S$2.4 billion, up 91 per cent year on year as Singapore-listed companies continued to tap the equity capital markets.

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Derivatives trading volumes hit a three-month high in June at 21.3 million contracts across multiple asset classes. This was up 4.1 per cent from the month before.

The daily average volume for derivatives rose 5 per cent month on month to one billion contracts in June, but decreased 6.5 per cent year on year.

Heightened risk-management activities in June lifted foreign exchange (FX) volumes to new records. This comes amid uncertainties over the growth outlook in key Asian economies and continued tightening by major central banks globally.

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The combined average daily volume of FX futures and over-the-counter FX contracts from BidFX, MaxxTrader and SGX CurrencyNode also exceeded US$100 billion in June for the first time.

Trading in commodities derivatives saw a boost in June, fuelled by optimism surrounding China’s reopening, which spurred trading and hedging interest in commodity derivatives.

Commodity derivatives traded volume increased 35 per cent year on year to 3.9 million contracts. In particular, iron ore volume went up 36 per cent year on year.

The market turnover value of exchange-traded funds (ETFs) fell 8.7 per cent month on month to S$221 million in June; volumes dropped 5.6 per cent to 168 million securities.

Year on year, the market turnover value of ETFs was down 40.7 per cent; volumes declined by 31.4 per cent.