Market turnover value of ETFs more than doubles to $469m in April: SGX

SINGAPORE - The market turnover value of exchange-traded funds on the Singapore bourse surged to $469 million last month, up 140 per cent from the year-ago period, on the back of strong investment interest and capital inflow to Asia.

The traded volume of equity index futures on the SGX fell 25 per cent from a year ago to 12.3 million contracts in April."The anticipated gradual reopening of the Chinese economy and optimism for more economic stimulus eased portfolio-hedging activity," the bourse operator said. Last month, China became the first major economy to exit its coronavirus lockdown, even as it announced a contraction in its gross domestic product for the first quarter of the year.

Volume traded for SGX's USD/CNH futures rose 14 per cent to 679,239 contracts, while month-end open interest jumped 57 per cent on the year to a notional U$6.27 billion."Market participants noted an uptick in geopolitical tensions between China and the US, which in January signed what was billed as the first phase of a broader trade deal," the bourse operator said.

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