The Singapore Exchange has passed the Hong Kong Stock Exchange in total exchange-traded fund listings, with the launch of five new ETFs from Société Générale unit Lyxor Asset Management.

The launch brings the total number of ETFs on the Singapore Exchange to 24, one more than the number listed on the Hong Kong Stock Exchange. Still, both markets trail Japan and South Korea for overall listings lead in Asia.

The five new index ETFs track the MSCI Asia APEX 50, MSCI Thailand, MSCI Malaysia, MSCI India and Reuters Jefferies CRB Non-Energy benchmarks.

Hong Kong remains the much larger market in terms of ETF assets. At the end of the third quarter, there was slightly over $13 billion in ETFs, while only $1.1 billion in Singapore-listed ETFs, according to Barclays Global Investors ETF research implementation strategy team.

Singapore trailed Japan and South Korea in terms of ETF assets, as well as China, India and Taiwan, which all had fewer listings. Through the third quarter, Singapore's total ETF asset had fallen compared with 2007 levels, while Hong Kong-listed ETF assets had notched up.

According to the BGI report, the Asian market leaders in terms of ETF listings and assets at Q3 end were: