Securities volume in SGX down in H1 FY23: analyst
It grew year-on-year in December 2022.
The Singapore Exchange securities volume went down year-on-year for the first half of financial year 2023, RHB said.
In a brokerage report, its stock market performed well last year but declined 1.2% in December.
SGX’s total securities market turnover value was underwhelming at $19.6b and the Securities Daily Average Value (SDAV) was $0.94b.
SDAV for 2QFY23 retained YoY, and it was down 7% YoY in 1HFY23.
The forecasted annual SDAV for FY23, based on the first half of data, is 1.6% lower than their estimate, said RHB.
“Singapore Exchange saw the listing of LMS Compliance on its Catalist board. There is a potential for weakness in SGX to continue,” the broker also pointed out.