SGX securities market turnover down 11.2% YoY in June

Securities daily average value also declined 6.6% YoY to $1.11b.

The Singapore Exchange Group (SGX) reported a total securities market turnover of $21.06b in June, down 11.2% from the previous year.

Securities daily average value (SDAV) also declined by 6.6% YoY to $1.11b. For the April to June 2024 period, it rose 7% QoQ to $1.2b.

Singapore maintained its position as the second most actively traded market in Southeast Asia, bolstered by a 3.4% QoQ increase in the Straits Times Index (STI) to 3,332.8, achieving a total return of 9% for FY2024 with reinvested dividends.

Additionally, SGX also reported growth in exchange-traded funds (ETFs) and fixed-income products. ETF turnover increased by 23% YoY in June to $272m, whilst fixed income ETF turnover rose 59% YoY, primarily driven by trading in the iShares Asia USD High Yield Bond ETF.

SGX also saw a 5% YoY increase in derivatives volume to 22.4 million contracts in June. Derivatives daily average volume (DAV) also rose by 13% YoY to 1.2 million contracts for the same period.

For the financial year FY2024 (July 2023 to June 2024), both derivatives volume and DAV grew by 8% YoY compared to FY2023.

Meanwhile, FX futures trading volume also increased by 35% YoY in June to 4.5 million contracts, driven by market participants hedging amidst expectations of interest-rate cuts. The FY2024 volume for FX futures rose by 34% YoY.

Commodity derivatives trading volume also experienced a 30% YoY increase in June to 5.1 million contracts, driven by strong performances in benchmark iron ore derivatives and SGX SICOM rubber futures.

For FY2024, commodity derivatives volume increased by 50% YoY to 61.5 million contracts, with significant growth seen in forward freight derivatives and petrochemicals.

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