Singapore Exchange (SGX Group) today reported strong growth momentum in July to kick off its FY2026, as robust securities and derivatives market activity reflected investor confidence across multiple asset classes.
Securities market turnover rose 27% year-on-year (y-o-y) in July to S$33.8 billion, the highest in three months, while securities daily average value (SDAV) climbed 27% y-o-y to S$1.47 billion. Derivatives traded volume increased 25% y-o-y to 29.3 million contracts, with derivatives daily average volume (DAV) up 23% y-o-y at about 1.3 million contracts.
Key highlights:
- STI sets records: The bellwether Straits Times Index (STI) advanced 5.3% month-on-month (m-o-m) in July to 4,173.77, outperforming most ASEAN peers, and closed at a record high of 4,273 on 24 July. Cash SDAV gained 19% m-o-m with an increase in liquidity across all stock segments.
- Small- and mid-caps outperform: Liquidity in small- and mid-cap stocks surged 94% m-o-m to S$261 million, accounting for most of the jump in turnover. The segment outperformed the STI, with the FTSE ST Small Cap Index and the FTSE ST Mid Cap Index gaining 9.9% m-o-m and 6.7% m-o-m, respectively. Retail was the fastest-growing client segment, while institutions net-purchased S$62 million of small- and mid-caps for a sixth consecutive month, following the first set of Equities Market Review Group measures announced in February.
- Listings momentum accelerates: July saw listings momentum continuing to build, with Singapore real-estate investment trust (REIT) NTT DC REIT and leading cloud-based software provider Info-Tech Systems Ltd. joining Mainboard, while Chinese specialty pharmaceutical company China Medical System Holdings Limited marked its secondary listing. During the month, Lum Chang Creations Limited, a spinoff from Mainboard-listed real-estate developer Lum Chang Holdings, joined Catalist.
- ETFs growth amid expansion of China offering: SGX Securities in July welcomed the listing of Amova E Fund ChiNext Index ETF under the SZSE-SGX ETF Link with Shenzhen Stock Exchange, the 10th exchange-traded fund (ETF) under the landmark cross-border link. Total ETF assets-under-management (AUM) grew 36% y-o-y to S$14.9 billion, with combined AUM of the two STI-tracking ETFs surpassing S$3 billion for the first time.
- Sustained Singapore equities upswing: As Singapore’s equity market continued its positive trajectory, MSCI Singapore Index extended its rally for a third straight month in July, underscoring investor confidence in the resilience and growth potential of Singapore-listed companies. DAV of SGX MSCI Singapore Index Futures rose 16% m-o-m to 48,137 contracts (US$1.6 billion notional) as month-end open interest (OI) climbed to a record US$7.1 billion, with institutional investors increasingly positioning for further upside amid favourable policy developments and earnings momentum.
- Broad-based gains across commodities suite: Total commodities traded volume rose 76% y-o-y in July to 9 million contracts – an all-time high – with increases across benchmark iron ore and freight derivatives as well as petrochemicals contracts. Iron ore DAV climbed to a record 362,755 lots, with average OI for the month at close to 3.5 million lots. The volume of forward freight agreements (FFA) gained 56% y-o-y to the highest since March 2024. The unique SGX Commodities offering enables market participants to risk-manage both cargo and freight on a single liquid and capital-efficient platform.
- More FX futures hedging activity: SGX INR/USD FX Futures traded volume rose 41% y-o-y in July to 2.2 million contracts as participants managed risk on the back of uncertainty around India-U.S. trade negotiations. SGX USD/CNH FX Futures volume climbed 7% y-o-y to 3.1 million contracts amid heightened volatility, with the yuan reaching an eight-month high against the U.S dollar in the earlier part of the month before losing ground after data signaled a slowdown in China’s manufacturing sector.
The full market statistics report can be found here.
