Singapore Exchange’s (SGX) total securities market has increased by 59.5% y-o-y and 36.88% m-o-m to $40.59 billion in April this year.
Securities daily average value (SDAV) during the month also rose by 59% y-o-y and 30.3% m-o-m to $1.93 billion, the highest since March 2020. Retail SDAV climbed by over 50% m-o-m to its highest levels since January 2021, SGX notes in its May 13 release.
Singapore was the most-traded Asean cash market in April. The city-state led its regional peers with SDAV growth of 22% year-to-date (ytd). The Straits Times Index (STI) outperformed other Asean benchmarks ytd with a price return of 1.2% and total return of 2.9%. The benchmark index rose above 4,000 points for the first time in history in March, although that came off a bit, especially after Trump’s Liberation Day tariffs. As at April 30, the STI closed at 3,832.51 points.
In April, derivatives traded volume rose by 24% y-o-y or 9.33% m-o-m to 29.9 million contracts due to record foreign exchange (forex) futures activity. Derivatives daily average volume (DDAV) rose by 24% y-o-y and 10.49% m-o-m to 1.5 million contracts.
Traded volume for SGX USD/CNH (or US dollar over the Chinese yuan) forex futures gained by 57% y-o-y to 4.4 million contracts in April as investors weighed the trade tensions between US and China. Volume for SGX INR (Indian rupee)/USD forex futures volume also grew as a renewal in foreign-investment flows into India bolstered the domestic economy. The two benchmark contracts led a 70% y-o-y surge in total SGX forex futures volume to a record 8.2 million contracts
In April, the exchange saw sustained growth in its exchange-traded funds (ETFs) with combined assets under management (AUM) at a record $13.8 billion. This includes the listing of Amova MSCI AC Asia ex Japan ex China Index ETF in April. The ETF is the first that offers investors a more targeted approach towards investing in Asia’s fast-growing economies. In April, daily average turnover among the exchange’s ETFs was up by 62% y-o-y at $37.5 million, the highest since March 2020.
During the same month, SGX FTSE China A50 Index Futures traded volume rose by 32% y-o-y to 9.4 million contracts with 1.2 million lots or US$14 billion ($18.28 billion) in notional value changing hands on April 7. That was the peak of the global selloff, which was due to concerns over the US tariffs.
SGX equity derivatives also saw investments from institutional investors to manage their Asian portfolio risk during onshore holidays in China and Taiwan and to hedge their positions during US hours, says SGX.
The SGX FTSE Taiwan Index Futures saw a record 85,270 lots or US$5.6 billion in notional value traded overnight on April 9.
See also: Where's the liquidity?
In India, the GIFT Nifty 50 Futures saw a record volume of 2.1 million contracts and a DAV of 112,113 contracts or US$5.3 billion in notional value in April. This came as India outperformed its emerging market peers amid the tariff uncertainties.
Commodity derivatives traded volume rose 11% y-o-y in April to 6.3 million contracts. Iron ore led gains during the month.
The volume of SGX SICOM rubber derivatives, which is the global pricing bellwether for natural rubber, increased 49% y-o-y to a record 454,638 contracts. Petrochemicals volume more than doubled on the back of heightened risk management. Open interest in dairy derivatives climbed to a record 171,666 lots, spurred by increased options activity.
As at end April, there are 613 listed securities on the SGX, unchanged from March, but 10 down from April 2024's 623 listed counters.
Shares in SGX closed 35 cents lower or 2.43% down at $14.05 on May 13.
