Trade war woes fuel May derivative trade volume
The total volume of derivatives traded on the Singapore Exchange (SGX) grew 46 per cent from a year ago to 24.2 million contracts in May this year, as global investors sought to manage their overall Asian exposures and macro risks, according to the SGX’s latest market statistics released on Monday.
There were also broad-based declines across most Asian equity indices amid the market uncertainty.
The daily average traded value of securities fell 18 per cent from a year ago in May to S$1.1 billion (Bt26.22 billion).
Market turnover value of structured warrants and daily leverage certificates also slumped 42 per cent year on year to S$814 million (Bt18.682 billion).
In Singapore, the total securities market turnover value in May rose 5 per cent from April to $23.1 billion.
As fears from the US-China trade war roiled global markets and reduced investor tolerance for uncertainty, investors with exposure to Asian asset classes – particularly currency and equity – managed their price and risk exposures on SGX, the bourse operator said.
Trading volumes of SGX FTSE China A50 Index futures spiked 82 per cent year on year in May, while those of SGX MSCI Taiwan Index futures moved up 28 per cent. The SGX Nikkei 225 Index futures increased 36 per cent from a year ago.|– The Straits Times
Lion Air admits request for airport payment deferral
Lion Air group has said that it had previously requested payment deferral through a letter to state-owned airport operator PT Angkasa Pura I.
The airline made the statement following rumours that the group had been struggling to pull through its finances, forcing it to postpone airport services payment.
“The postponement is for January, February and March,” Lion Air Group strategic communication officer Danang Mandala Prihantoro said.
Danang ensured that the group would fulfill its payment starting from April within the “normal scheme” that other airlines followed. The group has to pay for airplane parking, luggage handling systems, check-in counters and aviobridge. As quoted by an unnamed source through tempo.com, Angkasa Pura I has already received the letter from the airline.|– The Jakarta Post
Clark IE5 reclassified commerce, leisure hub
Philippine President Rodrigo Duterte has signed an executive order reclassifying the Clark Industrial Estate 5 (IE5) as an international centre of commerce, industry, leisure and recreation.
Duterte signed EO No 81, amending EO No. 716 signed in 2008.
EO No. 716 has declared Clark IE5 “as a logistics centre and mandated, among others, that the Clark International Airport Corporation (CIAC) shall only engage in aviation, aviation-related services and aviation-related logistic activities”.
But Duterte said the Clark Special Economic Zone and Clark Freeport Zone, including the IE5, has “attracted international attention and interest as the Asia Pacific Region’s emerging premier hub for aviation and international logistics, as well as an international centrefor commerce, industry, leisure and recreation”.
“The IE5 area, measuring approximately 290 hectares, is hereby reclassified as an international centre for commerce, aviation, logistics industry, leisure and recreation, without prejudice to any rights and interests under existing contracts, leases and business arrangements covering areas with the IE5, which have been lawfully entered into by the CIAC, prior to the effectivity of this order,” Duterte said. – Philippine Daily Inquirer
PTP departs vessel with world record load
Malaysia’s Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) has set a new world record to depart a vessel with a final load over 19,000 twenty-foot equivalent units (TEUs).
The milestone was accomplished recently when Monaco Maersk left the port with the record load of 19,284 TEUs, surpassing the previous record load of 19,190 TEUs achieved by MOL Tribune vessel in February this year.
PTP recorded a total throughput volume of 9 million TEUs in 2018 and was projected to handle a total throughput target of 9.5 Million TEUs this year.
PTP chairman and MMC group managing director Datuk Seri Che Khalib Mohamad Noh said the latest achievement was a testament to PTP’s commitment in providing best in class service for the customers. – The Star