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. 

Published:
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 SGinvestors.io -

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.
  • - Read this at SGinvestors.io -

Costs, capex seeing better management

  • Read more at SGinvestors.io.




Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.ketrade.com.sg/.




Thilan Wickramasinghe Maybank Research | https://www.maybank-ke.com.sg/ 2024-02-01



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

Price targets by 3 other brokers at SGX Target Prices.

Listing of research reports at SGX Analyst Reports.

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





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