SGX securities turnover value down 8% to S$35.7b in March

TOTAL market turnover value on the Singapore Exchange (SGX) S68 reached S$35.7 billion in March 2022, down 8 per cent on the year but up 21 per cent from the month before.

Volumes were 44 per cent higher month on month at 38.1 million shares but down 29 per cent year on year, SGX said in its monthly market statistics report on Monday (Apr 11).

Gains in derivatives volume drove performance for the first 3 months of 2022. Securities turnover also rose as the Straits Times Index (STI) was the top-performing stock benchmark in the Asia-Pacific, with a 9.1 per cent price return and 9.6 per cent total return.

The securities daily average value (SDAV) for March stood at S$1.6 billion, down 5.4 per cent on the month and 8 per cent lower year on year.

SDAV for the January-to-March period jumped 32 per cent quarter on quarter to S$1.46 million amid "a flight to quality" and expectations of higher interest rates.

Derivatives daily average volume (DAV) hit a 2-year high in March, with 1.2 million contracts. This came as total traded volume advanced 42 per cent month on month to 26.3 million contracts.

As a result, derivatives volume was lifted to 64.9 million contracts in the first 3 months of 2022, 17 per cent higher than the quarter before. The average fee per contract for equity, currency and commodity derivatives for the quarter was S$1.55.

Securitised products also saw strong growth due to heightened market volatility, SGX noted. The market turnover value of exchange-traded funds (ETF) increased 63 per cent month on month in March to S$663 million. Year on year, ETF market turnover value was 28 per cent higher.

The turnover of structured warrants rose 37 per cent month on month to S$408 million and was 33 per cent higher year on year.

Meanwhile, the S$859 million in turnover recorded for daily leverage certificates was nearly 4 times the S$215 million recorded the month before, and 3.8 times the S$228 million recorded in the year-ago period.

As for new bond listings, the amount issued from 104 new bond listings last month stood at S$31.1 billion, down 7 per cent from the month before and 38 per cent lower from the previous year.

Shares of SGX were trading 0.6 per cent or S$0.06 lower at S$9.92 at market close on Monday.