Singapore Exchange (SGX) February 2026 Market Report: Key Insights for Investors

Strong Market Capitalisation Growth and Turnover Surge

The Singapore Exchange (SGX) closed February 2026 with a robust increase in overall market activity, underpinned by a notable jump in market capitalisation and turnover velocity.

• Total market capitalisation reached S\$1,124,434 million, up from S\$1,101,283 million in the previous month, marking a significant year-on-year growth of 28%.
• Stock market turnover value surged to S\$38,547 million in February, reflecting a 30% annual increase, despite a lower number of trading days (18 in Feb vs 21 in Jan).
• Turnover velocity, a key indicator of liquidity, jumped to 49% from 38% in January, suggesting heightened trading momentum and investor engagement.

Highlights by Market Segment

• Mainboard securities dominated with S\$34.6 billion in turnover value (up 27% YoY) and a 21% increase in trading volume.
• The Catalist board showed remarkable growth, with turnover value soaring by 305% YoY and trading volume up 29%.
• Exchange Traded Funds (ETFs) trading value grew by 172% YoY, indicating rising retail and institutional interest.
• Structured Warrants and Daily Leverage Certificates saw a sharp decline in volume and value, down by 69% and 65% respectively — a trend for investors to watch.

Sector Performance: Key Drivers and Laggards

Industry highlights for February 2026:

• Technology sector: Trading volume surged by 226% YoY, and turnover value nearly tripled (up 195%).
• Health Care: Trading volume up by 205% and turnover value up by 231% YoY.
• Oil & Gas: Turnover value rose by 71% YoY, despite trading volume dropping 53%.
• Utilities: Trading value soared 248% YoY, with a 29% rise in trading volume.
• Conversely, Consumer Goods and Telecommunications showed muted performance, with Consumer Goods volume down 16% YoY and Telecoms volume down 7%.

Key Index and Stock Movements

• The Straits Times Index (STI) closed February at 4,995.07, up 2% month-on-month and a strong 28% surge year-on-year.
• FTSE ST China Index soared by 64% YoY, and the FTSE ST Oil & Gas Index more than doubled (+106% YoY), reflecting sectoral rotations and international capital flows.
• Major blue chips with market-moving weightings include:
  • DBS Group Holdings Ltd (Market Cap: S\$162.4 billion)
  • OCBC (S\$96.2 billion)
  • Singtel (S\$83.1 billion)
  • UOB (S\$61.1 billion)
  • Singapore Tech Engineering (S\$31.1 billion)

Derivatives Market: Record Activity and Key Trends

• Total derivatives trading volume reached 27.1 million contracts in February, up 6% YoY.
• Open interest in derivatives grew 15% YoY, signaling rising hedging and speculative activity.
• Standout contracts:
  • FTSE China A50 Index Futures: 8.3 million contracts traded in Feb (down 12% YoY but remains the most actively traded).
  • Iron Ore and Dry Bulk: Consistent growth with total volume up 6% YoY, and open interest up 27%.
  • SGX Bitcoin and Ethereum Perpetual Futures continued to gain traction, with open interest rising sharply for the first time — a sign of growing institutional adoption of digital assets.

Bond Market: Slowdown in Listings but Strong Foreign Participation

• New bond listings in February dropped 66% YoY, with only 29 listings vs. 86 in the same month last year.
• Funds raised via new bonds also contracted by 32% YoY, reflecting tighter funding conditions or strategic shifts by issuers.
• Foreign issuers accounted for 76% of new bond listings, maintaining Singapore’s status as a global debt hub.
• SGD-denominated bond listings comprised just 10% of the total, with the rest in foreign currencies.

Shareholder and Price-Sensitive Takeaways

• The surge in trading activity, particularly in Mainboard stocks, ETFs, and the derivatives market, signals growing investor confidence and liquidity, which could support higher valuations.
• Technology and Health Care sectors are showing outsized growth in both trading activity and market capitalisation — investors should monitor for earnings momentum or M&A activity in these sectors.
• The stock market’s record average daily trading value (up 45% YoY) may indicate increased institutional inflows or speculative activity, potentially leading to further share price volatility.
• Significant growth in derivatives open interest, especially in cryptocurrency-linked contracts and iron ore, may drive associated stocks and sectors in the coming months.
• Declining listings and fund-raising in the local bond market could signal a shift in capital market dynamics, possibly affecting bank and financial stock valuations.

Top Companies by Market Capitalisation (as at February 2026)

1. DBS Group Holdings Ltd – S\$162.4 billion
2. Oversea-Chinese Banking Corp – S\$96.2 billion
3. Singtel – S\$83.1 billion
4. United Overseas Bank Limited – S\$61.1 billion
5. Prudential Plc – S\$45.2 billion
6. Singapore Tech Engineering Ltd – S\$31.1 billion
7. Jardine Matheson Holdings Ltd – S\$30.7 billion
8. IHH Healthcare Berhad – S\$25.8 billion
9. Hongkong Land Holdings Limited – S\$23.6 billion
10. Keppel Ltd. – S\$23.5 billion
11. Singapore Airlines Ltd – S\$22.6 billion
12. Wilmar International Limited – S\$22.0 billion
13. Singapore Exchange Limited – S\$19.5 billion
14. CapitaLand Integrated Commercial Trust – S\$18.6 billion
15. Yangzijiang Shipbldg Hldgs Ltd – S\$17.1 billion

Conclusion for Investors

The SGX’s February 2026 report reveals a market in expansion mode, with surging turnover and market cap, especially in the technology, health care, and digital assets segments.
Investors should closely monitor sector rotation, increased ETF and derivatives participation, and the evolving bond market landscape — all of which are likely to drive future share price movements. The outsized growth in trading activity and open interest also signals potential for higher volatility and further price action across leading blue chips and growth sectors.

Disclaimer: The above article is for informational purposes only and does not constitute investment advice. Investors are advised to consult with their financial advisors and conduct their own research before making any investment decisions. The information is based on SGX’s February 2026 Market Statistics Report and is subject to change. Neither the reporter nor SGX will be liable for any losses incurred from reliance on this information.

View SGX Historical chart here