A more globalised and sophisticated equity market
As at end March 2008, there were a total of 770 companies with a
combined market capitalisation of S$671 billion listed on SGX. This is
an increase of 55 companies with a combined market capitalisation
of S$98.5 billion compared to end March 2007. This included 153
companies with a market capitalisation of S$72 billion listed on Catalist.
Catalist was launched on 17 December 2007 to replace Sesdaq. It
provides a sponsor-supervised listing platform in Asia for local and
international growth companies. Of the 770 listed companies, 39%
were foreign listings, reflecting the growing status of Singapore as the
Asian Gateway, offering global investors access to the dynamic and
fast growing Asian markets.
Capital raised from initial public offerings, rights issues and placements
totalled S$18.3 billion for the year ended March 2008, a 21.7% increase
from S$15 billion raised in the previous financial year. Turnover value
of the Singapore Exchange Securities Trading Limited (SGX-ST) also
rose 73% to S$602 billion for the year ended March 2008, and turnover
in volume terms increased 72% to 648 billion shares. The Straits Times
Index reached a historical high of 3875.77 points on 11 October 2007
and ended at 3,007.36 at end March 2008.
The number of futures derivative contracts traded on the SGX for the
year ended March 2008 increased by 33.4% to 48.8 million, from 36.5
million. SGX's flagship futures products - the Nikkei 225, MSCI Taiwan
Futures, MSCI Singapore Futures contracts and CNX Nifty Index Futures
- achieved record volumes and open interest, contributing to 94.1%
of the total volume on Singapore Exchange Derivatives Trading Limited
In the year ended March 2008, the number of new structured warrants
listings rose 57% from 1,143 to 1,794 year-on-year and recorded a
85% growth in turnover value to S$29.9 billion, as compared to S$16.2
billion in the year ended March 2007. Structured warrants on foreign
indices and Initial Public Offerings (IPOs) were particularly well-received
by the market. Trading value for foreign underlying warrants tripled and
accounted for 37% of the total warrants market.
As of end March 2008, 20 index participation certificates and five range
accrual certificates were listed which offer investors access to the
performance of different geographical markets and themes. On 11
April 2008, SGX became the first Asian exchange to list products linked
to the Rogers International Commodity Enhanced Indices©.
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