Exchanges in Asia have shown strong performance in March, as they recover from a weaker-than-usual February, according to a new report.
The Asia Exchange Watch report, compiled by Credit Suisse, was based on data from the World Federation of Exchanges and shows total value traded in listed instruments for March was up 8% year-on-year and up 17% on February 2013.
The report cites a distortion associated with Chinese New Year as skewing month-on-month figures, and suggests year-to-date total turnover, which was up 23% year-on-year, gives a more meaningful sense of on-exchange performance.
The report also states a recent strong activity in equity capital markets recently was a strong sign that sustained growth would occur throughout the year.
The Australian Securities Exchange (ASX) value of equities traded were down 8% year-on-year while key ASX24 volumes were up 40%, the report stated, adding, that derivative volumes were down 6% in March on an average daily basis.
Turnover for Hong Kong Exchange and Clearing was up 1% on March 2012, although trading had slowed recently, while Singapore Exchange’s trading value was up 14% year-on-year, with a mild tapering off seen in April so far.
Bursa Malaysia stood out as an underperforming venue for the region, as its year-on-year equity market turnover condensed 5% – the weakest year to date compared to its Asian peers.