SGX Group Achieves Record Growth in January 2026: Key Drivers and Price-Sensitive Developments

Singapore Exchange (SGX Group) has begun 2026 with exceptional momentum, reporting a series of record-breaking results across multiple asset classes for January. The robust performance is underpinned by surging trading volumes, increased participation from both retail and institutional investors, and significant new listings. These developments present several price-sensitive factors that current and prospective shareholders should be aware of, as they could influence SGX’s share value.

Key Highlights for Investors

• Stock Market Turnover Soars: The turnover value in SGX’s stock market surged 66% year-on-year (y-o-y) to S\$34.6 billion, with the securities daily average value (SDAV) rising 58% y-o-y to S\$1.65 billion. This sharp increase reflects growing investor confidence and market liquidity.
• Record Derivatives Activity: Total derivatives traded volume climbed 34% y-o-y to 32.1 million contracts, reaching its highest level since March 2020. The daily average volume (DAV) also rose 27% y-o-y to about 1.6 million contracts, driven by strong institutional demand for risk management tools in equities, FX, and commodities.
• Broader Market Participation: Demand extended well beyond benchmark index names, with a broader base of stocks achieving at least S\$1 million in daily turnover. Institutional investors showed net purchases not only in index stocks but also in small- and mid-cap stocks, signaling confidence in the broader market.
• Value Unlock Programme: In January, the Monetary Authority of Singapore and SGX launched the “Value Unlock” programme to further enhance market efficiency and investor engagement. This initiative could help drive re-rating in undervalued stocks and overall market sentiment.
• Straits Times Index (STI) Outperformance: The STI rose 5.6% month-on-month (m-o-m) to 4,905.13, outperforming most regional peers in ASEAN and indicating strong index performance.
• Accelerated Capital Raising: SGX welcomed two new Catalist listings in January: The Assembly Place Holdings Ltd. (Singapore’s largest community-living operator) and Toku Ltd. (a leading customer-experience platform). Additionally, Concord New Energy Group Limited (a renewable-energy investment holding company) held a successful secondary listing on the Mainboard. Secondary fundraising activity also spiked to S\$963 million, reflecting a vibrant capital market.
• Record ETF Turnover and AUM: ETF market turnover more than doubled y-o-y to almost S\$1.4 billion, with SDAV at an all-time high of S\$65 million. ETF assets-under-management jumped 43% y-o-y to a record S\$19.1 billion, buoyed by sustained inflows into gold, STI, and REIT ETFs. Two new ETFs were listed: UOBAM Ping An FTSE ASEAN Dividend Index ETF and CSOP CSAM CSI A500 Index ETF.

Price-Sensitive Developments Across Derivatives, FX, and Commodities

• Sustained Demand for China Exposure: SGX FTSE China A50 Index Futures volume rose 34% y-o-y to 11.3 million contracts, the highest since October 2024, reflecting ongoing global investor appetite for Chinese equities. SGX FTSE China H50 Index Futures also saw an 82% y-o-y jump in DAV, as more investors managed H-share exposures via SGX contracts.
• AI Momentum Lifts Taiwan Futures: Global AI-driven demand propelled Taiwan equities and, in turn, SGX FTSE Taiwan Index Futures DAV climbed 37% m-o-m to 75,363 lots (US\$7.7 billion notional). The micro version of this contract also hit a record high, emphasizing international investor interest in Taiwan’s tech sector.
• Record FX Futures Volumes: SGX USD/CNH FX Futures traded volume hit a new monthly record with 4.5 million contracts (US\$448 billion notional) – up 30% y-o-y – amid RMB appreciation. SGX INR/USD FX Futures volume soared 56% y-o-y to 3.0 million contracts, driving total FX futures to an all-time high of 8.3 million contracts. SGX also expanded its interest rate derivatives with the launch of Mini 20-Year Japanese Government Bond Futures, timed with shifts in Japan’s rate environment.
• Commodities Volume Expansion: Total commodities traded volume grew 54% y-o-y to 6.8 million contracts, with broad-based gains in iron ore, petrochemicals, freight, and rubber derivatives. SICOM rubber futures and options volume rose 51% m-o-m to 359,115 contracts, the highest since April 2025. The initiation of a night-trading session for rubber contracts on 26 January boosted daily volumes by over 10%, reinforcing SGX’s position as a global benchmark for rubber trading.

What Should Shareholders Watch?

• Exceptional Growth Trajectory: The across-the-board growth in turnover, new product launches, and record highs in multiple segments could support positive sentiment and potentially uplift SGX’s share price.
• Strategic Initiatives: The Value Unlock programme and new product launches (such as the Japanese government bond futures and new ETF listings) demonstrate SGX’s commitment to innovation and market development, which may drive future earnings and valuation re-rating.
• Capital Market Vibrancy: Strong fundraising activity and new listings reflect a healthy pipeline and could increase SGX’s fee-based revenue, further supporting share value.
• International Leadership: SGX’s ability to attract global flows in China, Taiwan, and FX derivatives underscores its relevance as an international marketplace, potentially enhancing its strategic value and shareholder returns.

Conclusion

January 2026’s performance signals a robust start to the year for SGX Group, marked by record activity in multiple asset classes, dynamic capital raising, and innovative product launches. These developments are highly relevant for investors, as they point to SGX’s strengthening market position and the potential for continued share price appreciation.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a licensed financial advisor before making investment decisions. Past performance is not indicative of future results.

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