Singapore Exchange (SGX)'s 1HFY24 (Jul to Dec 2023) operating data came in well below our estimates amid disappointing securities trading data. Derivatives trading data is tracking estimates.
While we mark to market (MTM) the weak 1HFY24 securities daily average value (SDAV) data in our estimates, we maintain some optimism on 2HFY24F SDAV amid improving economic growth outlook and some clarity on moderation in interest rate outlook spurring interest in S-REITs.
The STI outperformed in December.
- Read this at SGinvestors.io -
- Read this at SGinvestors.io -
We believe Singapore’s positive economic growth prognosis and the expectations around moderation in interest rates could bring investors back to Asia's highest-yielding market.
Securities data is below our estimates.
Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research. Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
