Equity turnover rose in Japan during April to US$854.89 billion for the month, compared to US$587.95 billion during March, with the incumbent exchange faring better than alternative venues. One year ago, in April 2012, total turnover within Japan’s markets was $316.2 billion.
According to data from Thomson Reuters Equity Market Share Reporter, Japan Exchange (JPX), the entity resulting from the 2012 merger of the Tokyo and Osaka Stock Exchanges, accounted for US$815 billion of turnover. Tokyo’s market share was 89.84% and Osaka’s 5.54%. In March, that pair recorded market share of 89.26% and 5.38% respectively.
SBI JapanNext’s portion fell to 2.72% from 3.13% in March. It had exceeded 3% for every preceding month this year. Chi-X Japan’s market share was 1.85% in April, down from 2.18% in March. April was the first month in 2013 that its share has dipped below 2%.
The figures imply that the alternative venues found it tougher to maintain market share as turnover surged during April.
Turnover in Australian markets fell in April to US$68.7 billion from US$70.08 billion in March. The Australian Stock Exchange’s market share of ASX 200 company volumes was 85.44% (US$58.7 billion), which was down marginally from 85.6% in March. That business was captured by Chi-X Australia, whose market share rose to 13.53% (US$9.29 billion) from 13.19%.
In China, volumes have gone steadily downhill all year. In January 2013, market turnover was US$752 billion but fell to US$461 billion in April. As volumes have declined, the gap between market leader Shanghai, and its southern compatriot, Shenzhen, has narrowed significantly. At the beginning of the year, Shanghai commanded 49%-50% of the market, but in April, Shanghai’s market share was 46.26% (US$213 billion) compared to Shenzhen’s 45.34% (US$208 billion).