- We expect SGX (SGX:S68) to report higher 1HFY24 revenue (+12% y-o-y) and adjusted PATMI (+12% y-o-y), driven by the FICC segment and higher treasury income.
- Both the cash equities and equity derivatives segments are poised to underperform as 1HFY24 total securities traded value and volumes fell respectively. The FICC segment is set to post record-high revenue driven by robust volumes.
- - Read this at SGinvestors.io -
SGX to release 1HFY24 results on 1 Feb 24
- See Earnings Calendar – Singapore Echange (SGX) is set to release its 1HFY24 results on 1 Feb 24, before the market opens. We list some factors below that would impact its upcoming results.
Weak securities turnover.
- - Read this at SGinvestors.io -
- The larger-than-expected y-o-y drop was largely due to elevated interest rates suppressing trading velocity, coupled with ongoing global geopolitical tensions dampening investor sentiment.
- Also, with SGX’s average clearing fee expected to be lower y-o-y, we reckon that this would lead to a 16% y-o-y fall in 1HFY24 cash equities trading and clearing (T&C) revenue to around S$75m.
Stable derivatives volume.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-01-18
Read also UOB's most recent report:
2025-01-14 Singapore Exchange - Expect A Strong 1HFY25 Results As Trading Volumes Improve.
Previous report by UOB:
2024-10-16 Singapore Exchange (SGX) - Stellar Month For All Business Segments.
Price targets by 2 other brokers at SGX Target Prices.
Listing of research reports at SGX Analyst Reports.
Relevant links:
SGX Share Price History,
SGX Announcements,
SGX Dividend Payout Dates & Corporate Actions,
SGX News
