Anticipation of market reforms and the start of lower interest rates have helped ignite the trading volume of Singapore markets last month.
Securities daily average value (SDAV) surged 51% year-on-year (y-o-y) in November to $1.44 billion, climbing 17% on a month-on-month (m-o-m) basis, says the Singapore Exchange Group in its monthly update.
Securities market turnover increased 51% y-o-y to $30.2 billion, up 12% m-o-m, the exchange adds.
Besides higher volume, the benchmark Straits Times Index eked out further gains to reach a 17-year-high in November, reaching 3,739.29 points at one point, as the three local banks making up around half the index's weight reported better-than-expected earnings for their respective 3QFY2024.
Yangzijiang Shipbuilding, another STI component stock, was included in another key index MSCI Singapore, which helped lift turnover too.
SGX notes that it was the most actively traded cash market in Asean and among Asia-Pacific developed markets.
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SGX Group shares changed hands at $12.59 as at 2.28 pm, down 0.79% thus far today but up 28.6% year to date.
