SGX Reports Sluggish November, FX Volumes Rise Despite Trend

The (SGX) has published its monthly market statistics for November 2018. Looking at the results, it was a mixed month on the exchange, with the total Securities market turnover down on both a yearly and monthly basis.
This drop could be partially attributable to the number of trading days in November of 2018. During the month there were 21 trading days. This is less than the previous month, which had 23 tradings and also fewer than that in November 2017 (22 days).
The total market turnover was S$21.6 billion ($15.8 billion) during the month. Comparing this to October 2018, it’s a drop of 11 per cent and an even steeper fall of 24 per cent year-on-year. The Securities daily average value (SDAV) came in at S$1.03 billion. Again, this is down on both a monthly and yearly comparison by 3 per cent and 21 per cent respectively.
The market turnover value in November for Exchange Traded Funds (ETFs) was also lower than the previous month by 40 per cent, at S$146 million. When measured against November 2017, the turnover value is 36 per cent less.
, on the other hand, managed to record a year-on-year increase of 9 per cent, with the total volume coming in at 19.6 million. However, this was still less by 11 per cent than that achieved in the previous month.
FX volumes buck the trend on SGX, post strong results
The total foreign exchange (FX) Futures volume managed to buck the downward trend on the SGX and actually recorded a jump in volume across the board. Specifically, the volume was 1.72 million which is 3 per cent higher month-on-month and 43 per cent year-on-year.
INR/USD (Indian rupee cross US dollar) Futures volume was 1.13 million. Whilst this was slightly down by 6 per cent from October, it was still up on a yearly comparison by 17 per cent.
USD/CNH (US Dollar cross ) Futures volume was 576,014 in November, representing a solid uptick of 30 per cent month-on-month and a significant 153 per cent increase when compared to November last year.
Commodities Derivatives traded on the SGX also recorded a solid performance, with a total volume of 1.88 million in November. This is up by 34 per cent when measured against October 2018 and up 32 per cent y-o-y