In Focus
MARKETS & INVESTING, STOCKS | Staff Reporter, Singapore

SGX daily average value down 8% to $1.1b in July

The turnover value of ETFs also dropped to $189m.

Securities daily average value (SDAV) reversed the previous month's gains and fell 8% MoM to $1.1b in July, according to an SGX report. On the other hand, total securities market turnover value climbed 11% MoM to to $24.3b.

Market turnover value of exchange traded funds (ETFs) came at $189m during the month, down 8% MoM but up 1% YoY.

Also read: SGX net profit hit 11-year high in 2019

Total SGX equity index futures volumes rose 4% YoY to 13.5 million contracts, which marks the fifth straight month of annual gains, driven by increases in hedging activities. MSCI Singapore index futures hit a record volume in July, up 31% YoY to 1 million contracts.

In July, the market capitalisation weighted average total returns for the overall Singapore stock market in July remained flat, as compared to the Straits Times Index’s (STI) figure which fell 0.2%. Consumer staples (3.6%), materials (3.1%) and banks (1.4%) were the top performing sectors for the month.

REITs continue to post positive returns for the ninth consecutive month, with YTD total returns at 21.2%.

In July, SGX witnessed the listing of its third pure-play US office REIT, Prime US REIT. The float was the largest IPO in Singapore to-date and raised the highest amount of funds in ASEAN.

In addition, funds raised from new REIT and bond listings in July surged 70% to $62b as investors seek yield plays. Funds raised from two new equity listings accounted for $844.1m of the total monthly figure whilst $$61.4b were generated by 128 bond listings, bringing the overall funds raised by issuers to $62b.

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