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SGX total securities market down by 4.49% y-o-y in June to $25.63 bil

Felicia Tan
·4-min read

In cash equities, securities daily average value (SDAV) stood at $1.17 billion, down 4.5% y-o-y and 22.6% m-o-m in June.

The Singapore Exchange (SGX) reported total securities market turnover of $25.63 billion for the month of June over 22 trading days.

According to the latest monthly statistics released on July 12, the amount represents a 4.49% y-o-y decline from the $26.83 billion in June 2021, and a 10.38% m-o-m drop from May’s total of $28.59 billion.

June 2021 had a total of 22 trading days, while May had a total of 19 trading days.

June’s securities market turnover value brought the total turnover value for the six-month period from January to June to $170 billion, up 13% from the period from July to December 2021.

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In cash equities, securities daily average value (SDAV) stood at $1.17 billion, down 4.5% y-o-y and 22.6% m-o-m.

The market turnover value of exchange-traded funds (ETF) dipped 0.26% y-o-y but rose 6% m-o-m in June to $373 million, as turnover for January-June 2022 climbed 3% over July-December 2021.

In June, turnover of structured warrants stood at $332 million, down 29.5% y-o-y but up by 22.1% m-o-m. Turnover of daily leverage certificates (DLC) stood at $285 million, slightly over double that of June 2021’s $142 million, but 17.4% m-o-m lower than May’s $345 million.

Trading activity for derivatives rose strongly in June with a total trading volume of 23.5 million contracts, up 24.3% y-o-y and 5.8% m-o-m. The higher trading activity was due to the sustained volatility in global markets, which drove institutional demand for portfolio risk management.

Derivatives daily average volume (DDAV) increased 24.4% y-o-y but fell 2.5% m-o-m to 1.1 million contracts.

For January-June 2022 – a period where participants were challenged by severe market conditions – volume was up 13% from July-December 2021 at 116.7 million contracts, with derivatives daily average volume (DDAV) rising 18%.

SGX Equity Derivatives traded volume increased 25% y-o-y and 7.8% m-o-m June to 16.9 million contracts.

Gains were led by SGX FTSE China A50 Index Futures – the world’s most liquid international contract for Chinese equities – as volume climbed 20% y-o-y for the month to 9.4 million contracts.

SGX Nikkei 225 Index Futures, SGX Nifty 50 Index Futures, SGX MSCI Singapore Index Futures as well as SGX FTSE Taiwan Index Futures also saw volume growth.

For January-June 2022, equity derivatives volume was up 10% over the previous six months at 94.7 million contracts.

In June, foreign exchange (forex) derivatives saw total futures traded volume increase 21% y-o-y but drop 12.4% m-o-m to 2.9 million.

The volume of SGX USD/CNH Futures climbed 59% y-o-y to 1.5 million, reinforcing the contract’s position as the world’s most widely traded international RMB futures.

For January-June 2022, total FX futures volume gained 26% over the previous half-year to 15.9 million contracts, or a 31% increase to US$943.05 billion ($1.33 trillion) on a notional basis.

Commodity derivatives volume rose 32% y-o-y in June to 2.9 million contracts, led by a 43% y-o-y gain in benchmark iron ore derivatives to 2.6 million contracts.

Petrochemicals volume climbed 30% y-o-y while SGX SICOM rubber futures, the global pricing bellwether for natural rubber, increased 16% y-o-y to 129,185 contracts.

For January-June 2022, commodity derivatives volume was up 15% over July-December 2021 at 16.2 million contracts.

In June, SGX raised a total of $33.16 billion worth of new bond listings, down 9% y-o-y but up 16.2% m-o-m.

Highlights for the month included US$175 million of catastrophe bonds issued by Catahoula II Re Pte Ltd., marking the first catastrophe bonds sponsored by a commercial insurer listed on SGX.

Other highlights include the issuance of Industrial and Commercial Bank of China’s carbon-neutrality themed green bonds, totalling US$2.68 billion equivalent across four currencies (USD, EUR, CNY and HKD) and five tranches; as well as the Republic of Indonesia’s US$3.25 billion dual-tranche Global Sukuk offering including a US$1.5 billion, 10-year green tranche – the largest green Sukuk tranche ever issued globally.

As at end-June, the total market capitalisation value of 661 listed companies stood at $865.4 billion.

The benchmark Straits Times Index (STI) was down 4% at 3,102.21 in June, declining 0.7% over the six-month period.

Shares in SGX closed 2 cents higher or 0.21% up at $9.66 on July 13.

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