Singapore Exchange (SGX) - Maybank Research 2024-02-01: At A Cross-roads; Low Yield & Slow Growth. 

Singapore Exchange (SGX) - At A Cross-roads; Low Yield & Slow Growth. 

SGX (SGX:S68) | SGinvestors.ioSGX (SGX:S68)
  • Singapore Exchange (SGX)’s 1HFY24 core-NPAT was behind MIBG/Street expectations. Weak market sentiment as well as a slower China impacted volumes in cash equities and derivatives.
  • Nevertheless, the Group’s risk management platform proposition held up well with increased volumes in FICC as market participants hedged inflation and FX volatility.
  • - Read this at -

Slower equities, better FICC

  • Weak market sentiment drove SGX's cash equities average daily traded volumes to fall -11.5% y-o-y in 1HFY24. Equity derivatives saw revenues fall -6.9% y-o-y. This was partly from the migration of the Nifty contract to the NSE IX-SGX GIFT connect in India. Management expects Nifty volumes to normalise within 12-18 months as clearing members are fully onboarded.
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Costs, capex seeing better management

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Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Thilan Wickramasinghe Maybank Research | 2024-02-01

Previous report by Maybank:
2023-08-17 Singapore Exchange - Multi-Asset Strategy Working; Yields At A Ceiling..

Price targets by 2 other brokers at SGX Target Prices.

Listing of research reports at SGX Analyst Reports.

Relevant links:
SGX Share Price History,
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SGX Dividends & Corporate Actions,
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