Singapore Exchange (SGX) November 2025 Market Statistics – Investor Highlights

Robust Performance in Securities and Derivatives Markets

The Singapore Exchange (SGX) posted a strong set of monthly statistics for November 2025, with several key metrics showing notable improvements that could be price sensitive for market participants and shareholders:

• Total Securities Market Turnover Value: Increased to S\$35.55 billion in November from S\$33.93 billion in October, despite fewer trading days (20 vs. 22).
• Daily Average Turnover: Rose to S\$1.78 billion, up from S\$1.54 billion, indicating higher liquidity and trading activity.
• Total Market Capitalisation: Climbed to S\$1.03 trillion, a 20% year-on-year increase – a significant jump that may reflect strong institutional and retail inflows into listed equities.
• Overall Turnover Velocity: Accelerated to 45% (from 39% in October), suggesting increased investor interest and faster capital rotation.
• Derivatives Volume: While volumes declined month-on-month (25.9 million contracts vs. 29.5 million in October), open interest remains strong, indicating ongoing hedging and speculative activity.

Sector and Stock Highlights – Potential Impact on Share Prices

• Financial Sector: Continues to dominate trading value, with DBS Group Holdings Ltd, OCBC, and UOB contributing significantly to market cap and turnover. DBS alone accounts for S\$153.8 billion in market cap and 16% of total trading value for constituent stocks.
• Telecommunications: Singtel posted a strong market cap of S\$78 billion, up 47% YoY, and contributed 7% to total trading value. This sector’s outperformance could be price sensitive for Singtel shareholders.
• Industrials & Technology: Industrials market cap rose 40% YoY, while Technology surged 54%. Companies like Singapore Tech Engineering (S\$25.9 billion market cap) and Wilmar International (S\$20.2 billion) are key beneficiaries.
• REITs and Real Estate: Steady performance; CapitaLand Integrated Commercial Trust and CapitaLand Ascendas REIT remain among the top market cap contributors, which could influence REITs’ pricing and investor sentiment.
• China and Overseas Listings: Overseas companies (excluding China) saw a 30% YoY jump in trading value despite a decrease in trading volume. China listings saw a 39% YoY drop in trading value, which could be price sensitive for holders of China-related stocks.

Notable Movements in Index Values

• Straits Times Index (STI): Rose 2% MoM to 4,523.96, up 21% YoY – a bullish signal for broad market sentiment.
• FTSE ST Catalist Index: Up 4% MoM and a remarkable 61% YoY, reflecting strong gains for smaller-cap growth stocks.
• Other Sectoral Indices: FTSE ST Oil & Gas (up 72% YoY), FTSE ST Telecommunications (up 47% YoY), FTSE ST Industrials and Financial Services (up over 40% YoY) – indicating sector-specific bullishness that could affect share prices in these industries.

Derivatives Market Activity – Ongoing Volatility and Hedging Demand

• Equity Index Futures: FTSE China A50 Index Futures remains the largest contract, though trading volume dropped 9% YoY. Taiwan Index and Vietnam 30 Index futures saw double-digit growth, which may signal rising investor interest in regional exposure.
• Foreign Exchange Futures: INR/USD and USD/CNH contracts dominate, with INR/USD up 43% YoY in volume – this may reflect ongoing hedging and speculative demand around Asian FX rates.
• Commodity Derivatives: Iron ore, coal, and petrochemical derivatives remain active, with iron ore futures open interest up 53% YoY. Energy metals (lithium hydroxide) saw a 115% YoY jump in volume, reflecting increased demand in battery and EV-related sectors.
• Cryptocurrency Derivatives: SGX launched Bitcoin and Ethereum Perpetual Futures in November, with initial volumes of 5,433 contracts, marking SGX’s entry into regulated crypto derivatives trading – potentially price sensitive for SGX Ltd shares.

Bond Market – New Listings and Fund Raising Trends

• Bond Listings: 48 new bonds listed in November, raising S\$16.6 billion; total outstanding bond listings now at 7,433 – up 8% YoY.
• Issuer Trends: Foreign issuers accounted for 60% of new listings, but local issuers’ share surged to 40% in November, which may reflect changing capital market dynamics.
• Top Issues: Major issuance from Bangkok Bank (USD 1.1 billion), Korea Electric Power (USD 1 billion), Republic of Indonesia (CNY 6 billion), Housing and Development Board (SGD 1 billion), and Foxconn Singapore (EUR 600 million).

Important Corporate Actions and Listings

• Total Number of Listed Securities: Slight uptick to 606 in November, with 1 IPO on the Mainboard and no new Catalist IPOs.
• Delistings: Two Mainboard delistings and none on Catalist in November; overall listings stable.
• SGX Product Expansion: Increase in Exchange Traded Funds (54), Company Warrants (16), and Structured Warrants (151), indicating ongoing innovation and diversification of investable products.

Shareholder-Relevant and Price-Sensitive Observations

• SGX Ltd: Market cap now at S\$18.05 billion, up sharply; with new crypto derivatives and product expansion, SGX is positioned for further growth and competitive advantage in Asia’s financial markets.
• Sector Rotation: Significant outperformance in telecommunications, technology, and financials could drive further share price gains for major constituents.
• China Exposure Risks: Notable decline in China-related trading value may impact China-focused stocks and funds.
• Product Innovation: The launch of cryptocurrency derivatives could be a catalyst for SGX’s revenues and global investor attention.

Conclusion

November 2025 was a month of strong trading activity, rising market capitalisation, and major product innovation at SGX. Shareholders should watch for continued sector rotation, the impact of new products like crypto derivatives, and possible risks from China-exposed listings. Financials, telecommunications, and technology sectors appear poised for further gains, while SGX’s own growth and diversification strategy could support its share price.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with a licensed financial adviser before making any investment decisions. The information herein is based on SGX’s November 2025 statistical report and may be subject to change. Past performance is not indicative of future results.

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