Barrage of IPOs boosts SGX's trading volume in November

The average traded volume of securities rose $1.27b.

The Singapore Exchange's (SGX) average trading volume for securities (SADV) reached $1.27b in November, thanks to a barrage of initial public offerings (IPO).

According to RHB Research, there were 23 new listings on the SGX for the first 11 months of 2017, including 19 IPOs.

As previously reported, funds raised by the 19 IPOs totalled $4.6b, which is twice $2.3b raised last year.

RHB lowered its SADV forecast for June 2018 to $1.2b and raised its SADV for 2019 to $1.39b.

"Global developments such as the federal funds rate (FFR) hike in December – which is largely expected by market players – could also stimulate trading volumes," said RHB analyst Leng Seng Choon.