TOTAL securities market turnover value on the Singapore Exchange (SGX) increased 36 per cent year on year (yoy) to S$26.92 billion in October, said the bourse’s monthly market statistics report released on Friday (Nov 8).
This is, however, an 11.4 per cent decrease from September’s S$30.38 billion.
Total market turnover volume rose 17 per cent yoy, and 23.2 per cent month on month, to 31.57 billion shares in October.
Notably, derivatives daily average volume rose to an all-time high, surging 48 per cent yoy to 1.6 million contracts. Total traded volume climbed 52 per cent yoy to 31.3 million contracts.
Growth in derivatives activity was mainly due to increased trading activity across multiple asset classes through China’s Golden Week holiday, said the bourse.
The exchange also noted that the Singapore stock market was resilient against “a backdrop of softer regional growth”.
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Equity index futures volume was up 61 per cent yoy, while foreign exchange (FX) futures rose 63 per cent on the year. Meanwhile, commodity derivatives volume gained 25 per cent.
The volume of SGX FTSE China A50 Index Futures climbed to a new high of 14.9 million contracts.
“There was also heightened activity during the overnight T+1 sessions, as global investors managed their China exposures before the cash market’s reopening,” said the exchange.
Commodities volume grew amid stronger demand to manage and navigate China risk.
SGX Sicom rubber derivatives rose 64 per cent yoy to 423,666 contracts amid heightened volatility, noted the bourse.
Daily average volume of bellwether iron ore derivatives reached 102,131 lots, while that of the Sicom rubber derivatives climbed to 15,139 lots. This comes as China’s markets were closed during the first five trading days of the month.
On the forex front, total FX futures traded volume rose 53 per cent on the year to a notional US$362.7 billion as US Treasury bond yields climbed.
SGX USD/CNH FX Futures rose 50 per cent on the year to 3.1 million contracts and a notional US$311.5 billion, buoyed by China’s fiscal measures to bolster economic stability.
