SGX stock market turnover jumps 66% to $34.6b in January

Derivatives total traded volume hit 32.1 million contracts, the highest since March 2020.

Stock market turnover rose 66% year-on-year (YoY) to $34.6b in January, with securities daily average value (SDAV) up 58% to $1.65b, according to SGX Group (Singapore Exchange).

Derivatives total traded volume climbed 34% YoY to 32.1 million contracts, the highest since March 2020, according to the group’s press release.

Meanwhile, derivatives' daily average volume rose 27% to about 1.6 million contracts, with activity expanding across equity, FX and commodities contracts.

“Stock market momentum in January was broad-based across all client segments, with demand extending beyond index names as more stocks achieved at least $1m in daily turnover,” SGX said.

The Straits Times Index advanced 5.6% month-on-month to 4,905.13, with broad-based trading across large- and mid-cap stocks.

Exchange-traded funds (ETFs) recorded $1.4b in turnover during the month, with SDAV reaching an all-time high of $65m. Futures linked to China and Taiwan indices also saw higher volumes.

ETF assets under management rose 43% YoY to $19.1b, supported by sustained inflows into gold, STI and REIT ETFs.

Capital-raising activity included two new Catalist listings and a Mainboard secondary listing, generating $963m in secondary fundraising.

SGX said the increase in trading activity reflected stronger participation from both retail and institutional investors across its equity and derivatives markets.

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