SGX daily average value fell 3% to $940m in September

Total equity index futures volume slipped 5% YoY to 14.2 million contracts.

Securities daily average value (SDAV) dipped 3% YoY to $940m in September, down from the $1.2b in August, despite the Straits Times Index’s (STI) positive total returns of 0.5%, according to an SGX report.

Meanwhile, the total securities market turnover rose 2% YoY to $19.7b in the same month as REITs continue to post positive returns, with about $327m of net inflows from institutional investors over the first nine months of 2019. REITs generated 24.2% total returns over the 9M period as well.

Total equity index futures volume slipped 5% YoY to 14.2 million contracts in September and the total equity futures volume in Q3 climbed 4% YoY to 44.4 million contracts.

Key index inclusions for three REITs, Mapletree Commercial Trust in the STI and both Frasers Centrepoint Trust and Keppel DC REIT in the FTSE EPRA/NAREIT Global Real Estate Index Series, also contributed to trading turnover.

The report added that listed companies continued to tap the equity capital markets as it secured secondary fundraising of $2.5b in September, compared with $0.87b a year ago. For the July-September quarter, the tally climbed to $3.4b YoY, up from $1.1b in 2018.

In the foreign exchange (FX) market, SGX USD/CNH futures volume jumped 74% YoY to 818,619 contracts in September, whilst the SGX INR/USD futures volume rose 23% YoY to 1.41 million contracts. Aggregate FX trading volume in Q3 has hit rose US$383b.

Iron ore derivatives volume surged 98% YoY to 1.57 million contracts in September on the back of increased hedging by financial and physical market participants. In Q3, SGX’s benchmark derivatives for iron ore skyrocketed 98% YoY to 5.85 million contracts. Petrochemicals futures volume also climbed 53% YoY in September.

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