SGX’s February performance hits highest securities daily average value in six years
The local bourse’s SDAV surges 45% on the year to S$2.1 billion
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[SINGAPORE] Singapore Exchange (SGX) announced on Thursday (Mar 12) that its February performance had the highest securities daily average value (SDAV) since 2020.
The local bourse’s SDAV surged 45 per cent year on year to S$2.1 billion, propelling total securities market turnover up by 30 per cent year on year to S$38.5 billion.
This broad-based market strength was accompanied by the Straits Times Index (STI) crossing the historic 5,000-point threshold, reaching an all-time high of 5,041 on Feb 23. This was supported by broad-based strength across real estate and industrials.
The benchmark index advanced 2 per cent month on month, closing February at 4,995.07, which represents an 8 per cent increase for the year.
Trading activity across all stock segments was elevated, SGX said, with STI turnover rising 38 per cent year on year to S$1.4 billion. Furthermore, small and mid-cap turnover soared 135 per cent on the year on the back of sustained institutional demand, while retail daily turnover jumped 45 per cent to hit its highest level in 13 years.
Exchange-traded funds (ETFs) also experienced a significant acceleration in trading momentum. Monthly ETF turnover surged 172 per cent year on year to S$1.1 billion, driven by net inflows of S$643 million, which marks the highest level since December 2024.
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SGX noted that investments in ETFs by Supplementary Retirement Scheme holders exceeded S$1 billion for the first time, signalling a growing shift towards ETFs for long-term investing.
In the derivatives space, “trading activity remained resilient as risk-management needs intensified across selected Asian markets and asset classes”, added SGX.
Derivatives daily average volume (DAV) gained 22 per cent year on year to 1.7 million contracts, lifting the overall derivatives traded volume to 27.1 million contracts.
This 6 per cent year-on-year growth was achieved despite the month having fewer trading days due to the Chinese New Year holidays, noted the local bourse.
Foreign exchange and commodity derivatives also posted a series of record highs during the month.
The SGX USD/CNH FX Futures contract set a record DAV of US$24 billion and a month-end open interest of US$27.1 billion, as market participants engaged in active risk management while onshore Chinese markets were closed for the festive period.
SGX INR/USD FX Futures also saw a peak single-day volume of US$7 billion on Feb 3, reflecting repositioning and hedging flows following policy and trade-related headlines.
Amid active hedging tied to moves in South Korean equities, SGX KRW/USD Mini Futures set a new DAV record of US$713 million, up 43 per cent month on month.
SGX TWD/USD FX Futures posted a DAV high of US$378 million, up 35 per cent month on month, with month-end open interest rising 28 per cent to US$26 million, on the back of “growing interest in regional technology and semiconductor supply-chain themes”, SGX said.
Meanwhile, the broader commodities segment’s traded volume grew 5 per cent year on year to 5.3 million contracts, anchored by iron ore derivatives, which climbed 7 per cent to 4.7 million contracts.
Shares of SGX closed flat at S$18.37 on Wednesday.
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