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SGX's January daily average value up 28% year-on-year

THE daily average value of stocks traded on the Singapore Exchange (SGX) in January was up 28 per cent year-on-year (y-o-y) to S$1.3 billion, according to SGX's latest market statistics report.

On a month-on-month (m-o-m) basis, the securities daily average value rose 39 per cent.

Total market securities turnover value stood at S$29.4 billion, up 40 per cent y-o-y over 22 trading days. Meanwhile, market turnover of Exchange Traded Funds (ETFs) was down 13 per cent y-o-y to S$253 million, but up 27 per cent m-o-m.

In the month of January, there were two new Catalist listings on the Singapore bourse, namely Myanmar-based tourism firm Memories Group and Malaysian wooden furniture maker LY Corp, which together raised S$32.2 million.

There were also 59 new bond listings in the month, which raised S$25.1 billion in proceeds, up 51 per cent from the S$16.6 billion raised in January last year.

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In the derivatives market, total trading volume was 18.1 million, up 55 per cent y-o-y and 16 per cent m-o-m. This came on the back of strong performers in the equities and currencies futures.

Said Lin Yujun, head of North Asia equities at SGX: "The relatively buoyant Asian equities markets in January led to increased trading interest on the back of bullish investor sentiments. We saw that this had a positive effect on volume from our institutional clients, as well as the after-hours trading activity in our Asian futures."

According to SGX's monthly report, total open interest in the derivatives market, which is a measure of the flow of money into a futures or options market, rose 28 per cent y-o-y to 4.8 million contracts.

In particular, SGX's FTSE China A50 Index Futures remained the most active contract with a volume of 7.7 million in January 2018, up 73 per cent from the year-ago period, while the MSCI Singapore Index Futures recorded a volume of about 936,000 contracts in January, a 37 per cent increase from last year.

Notably in the FX derivatives market, trading in the flagship INR/USD and USD/CNH contracts hit new highs in January, bringing the overall SGX FX futures volume above US$65 billion in a month for the first time.

With regard to commodities, trading volume of commodities derivatives on SGX reached 1.3 million last month, up 14 per cent y-o-y.

On Jan 19, SGX also reported a second-quarter net profit of S$88.4 million, with earnings per share of 8.2 Singapore cents for the year ended Dec 31, unchanged from the year-ago period. Revenue also increased 3 per cent to S$205 million for the quarter from the preceding year.

Said SGX's chief executive officer Loh Boon Chye: "The increased activities in our equities and fixed income markets were the outcome of active engagement with the investment community, and existing and prospective issuers. On the derivatives front, efforts to grow our client base contributed to higher equity futures trading, record volumes in key foreign exchange futures contracts and a stronger virtual steel mill chain."

Shares in SGX traded 1.65 per cent, or 13 Singapore cents higher to close at S$8.01 on Wednesday.

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