SG Morning Highlights | SGX Derivatives Volume Rises 16% on Rising Hedging by Global Investors
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 0.79%
●SGX derivatives volume rises 16% on rising hedging by global investors
●Singapore's 6-month T-bill yield bounces up to 3.73%
●Stocks to watch: LHN, SGX, Tan Chong International
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Friday. The $FTSE Singapore Straits Time Index (.STI.SG)$ rose 0.79 per cent to 3,275.15 as at 9.11 am.
Advancers / Decliners is 114 to 41, with 123.70 million securities worth S$104.75 million changing hands.
Breaking News
SGX derivatives volume rises 16% on rising hedging by global investors
The Singapore Exchange (SGX) recorded a 16 per cent increase in derivatives traded volume in August to 23.7 million contracts, on both a month-on-month and year-on-year basis. Derivatives daily average volume rose 7 per cent on the month to one million contracts in August, with broad-base gains across foreign exchange (FX), commodities and equities. The total FX futures traded volume reached an all-time high, up 26 per cent to 4.2 million contracts. The average daily volume also hit a record notional of almost US$12 billion. SGX said that growing uncertainties on the interest rate outlook have pushed investors to beef up currency risk management.
Singapore's 6-month T-bill yield bounces up to 3.73%
The latest issue of Singapore’s six-month T-bills, issued by the Monetary Authority of Singapore, posted interest rates of 3.73 per cent. This is a slight rebound from last month's low of 3.7 per cent. Demand for this tranche’s T-bills was the same as last month, with a bid-to-cover ratio of 2.03 as the total amount that was applied for reached S$11.2 billion, against a total of S$5.5 billion allotted.
Stocks to Watch
$LHN (41O.SG)$ : LHN reported occupancy rates of 85 per cent to 100 per cent for three of its co-living locations in Singapore as at Sep 7, with average rental rates across the Singapore co-living business ranging from S$2,200 to S$3,500. In a bourse filing on Thursday (Sep 14), the Catalist-listed real estate management services group provided an update on its four main business segments: space optimisation, property development, facilities management, and energy. The group managed a total of 2,064 keys across its co-living projects in Singapore and overseas as at Jun 30.
$SGX (S68.SG)$ : The Singapore Exchange (SGX) is implementing a new organisational structure, which includes the appointment of Michael Syn as the bourse's new president and head of its global markets division. On Thursday (Sep 14), SGX said that key changes for its new structure will take effect from Oct 1.
$h TCIL HK$ (T15.SG)$ : IT IS a tale of two Japanese brands of Tan Chong International in Singapore, with Nissan doing very well and Subaru rather badly. The Hong Kong-listed car distributor revealed in its 2023 interim report published on the Singapore Exchange on Thursday (Sep 14) that Nissan did not suffer a decline in sales volume in Singapore in the first half of 2023. This was mainly due to the “growing popularity” and expanding line-up of its electrified e-Power range, which saw a 24 per cent year-on-year rise.
Latest Share Buy Back Transactions
Source：Business Times, SG investors
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