Japan’s JPX Reports Falling MoM Volumes in July

Whilst trading volumes were mostly up on a yearly basis, when compared to June almost all market segments were down.

The Japan Exchange Group (JPX) has released its trading volumes for July 2018. The exchange, which operates the Tokyo Stock Exchange (TSE) and Osaka Exchange (OSE), saw month-on-month declines in its derivatives and cash equity markets, but they were still up on a yearly comparison.

In July this year, the average trading value for domestic common stocks on the TSE was $24.1 billion (¥2.7011 trillion). For domestic common stocks, the total trading value for all exchanges was $452.6 billion (¥56.7 trillion) or 32 billion shares. This was a decline of 4.6 percent month-on-month and 16.9 percent year-on-year.

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The ETF market saw strong volumes in July. For the month, the trading value was $36 billion (¥4.0374 trillion), and the daily average was 36,939 contracts. When compared to the same period last year, this was a significant jump of 71.9 percent and a gain of 18.6 percent compared to June this year.

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Derivative markets see strong yearly gains

The total derivatives trading volume in July 2018 was 26,585,894 contracts, or $1.8 trillion (¥206.8 trillion). When compared to the previous month, the trading value is down 33.7 percent, but it’s still up 36.8 percent year-on-year. When looking at the volume of trades, there were 10.1 percent fewer contracts traded in July than in June this year. However, contracts were up by 38.1 percent.

For the TSE Mothers Index Futures, the monthly trading volume was 44,658 contracts, which translated to $410.7 million (¥46 billion). This was yet again a decline when compared to the previous month, but it was up an impressive 225.1 percent when compared to the same period last year. As of the end of July, open interest was 13,570 contracts – the highest record for month-end open interest.

The Nikkei 225 Futures market also saw strong yearly gains. For July this year, traded volume was 1,529,411 contracts. In value, this equaled $303.5 billion (¥34 trillion). Following from the same pattern that affected most of the segments, this was down by 36.8 percent from June this year, but it was up by 55 percent year-on-year.

For the JPX, the cash equity market is operated by TSE, while the derivatives market is operated by OSE.

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