SGX Reports Sluggish November, FX Volumes Rise Despite Trend

Whilst most sectors were down, FX Futures managed to record gains across the board.

The Singapore Exchange (SGX) has published its monthly market statistics for November 2018. Looking at the results, it was a mixed month on the exchange, with the total Securities market turnover down on both a yearly and monthly basis.

This drop could be partially attributable to the number of trading days in November of 2018. During the month there were 21 trading days. This is less than the previous month, which had 23 tradings and also fewer than that in November 2017 (22 days).

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The total Securities market turnover was S$21.6 billion ($15.8 billion) during the month. Comparing this to October 2018, it’s a drop of 11 percent and an even steeper fall of 24 percent year-on-year. The Securities daily average value (SDAV) came in at S$1.03 billion. Again, this is down on both a monthly and yearly comparison by 3 percent and 21 percent respectively.

The market turnover value in November for Exchange Traded Funds (ETFs) was also lower than the previous month by 40 percent, at S$146 million. When measured against November 2017, the turnover value is 36 percent less.

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Derivatives, on the other hand, managed to record a year-on-year increase of nine percent, with the total volume coming in at 19.6 million. However, this was still less by 11 percent than that achieved in the previous month.

FX Volumes Buck the Trend On SGX, Post Strong Results

The total foreign exchange (FX) Futures volume managed to buck the downward trend on the SGX and actually recorded a jump in volume across the board. Specifically, the volume was 1.72 million which is three percent higher month-on-month and 43 percent year-on-year.

INR/USD (Indian rupee cross US dollar) Futures volume was 1.13 million. While this was slightly down by six percent from October, it was still up on a yearly comparison by 17 percent.

USD/CNH (US Dollar cross Chinese yuan offshore) Futures volume was 576,014 in November, representing a solid uptick of 30 percent month-on-month and a significant 153 percent increase when compared to November last year.

Commodities Derivatives traded on the SGX also recorded a solid performance, with a total volume of 1.88 million in November. This is up by 34 percent when measured against October 2018 and up 32 percent YoY.

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