With the mega IPOs from Global Logistics Properties (GLP) and Mapletree Industrial Trust (MIT) making good starts this month, remisiers have seen an increase in new account openings made by novice investors.
“I’ve had 10 new accounts opened in a two- week period. For the majority of them, it was because of the IPOs,” said Shane Ng, a remisier with Kim Eng Securities.
CIMB Securities has also witnessed a surge in the opening of new trading accounts. “For the months of September and October, clearly things have picked up a fair bit,” said Malcolm Koo, head of sales at CIMB Securities.
“As a whole, on a year-on-year basis, we are seeing growth in terms of new accounts being opened. It has been a good double-digit growth for us every month,” added Mr. Koo.
Phillip Securities has also seen a resounding revival. “I’ve seen 50 accounts being reactivated over the last one or two weeks,” said Henry Tjoa, a remisier at the company.
The figures have been generally compelling. The Singapore Exchange (SGX) has seen a rapid increase in total monthly turnover from a volume of 22.6 billion shares in June to 45.4 billion shares in September.
While the figures for October are yet to be released, they are expected to be higher than last month’s.