- Singapore Exchange (SGX) booked an exceptionally strong September and 1QFY25 (Jun) operating statistics, aided by softening monetary policies, investors shifting portfolios to China post its stimulus announcement, and improved economic development indicators here.
- - Read this at SGinvestors.io -
- We still expect trading activity moderation in 2HFY25. We see downside risks to our treasury income estimates too amidst falling interest rates, and maintain that SGX’s ~3% forward yield stays unexciting.
Strong trading data.
- - Read this at SGinvestors.io -
- SGX noted that Singapore’s stock market was the second most actively traded in the region in September. Increased market volatility – arising from China’s stimulus announcement – drove the volumes for derivative products higher across equities, FX, and commodities.
- September derivatives volume of 28.9m contracts and derivatives daily average volume (DDAV) of 1.37m contracts were up 34% and 28% y-o-y. 1QFY25 derivatives volume and DDAV were up 9% and 3% y-o-y. The implied 1HFY25 SDAV and DDAV exceeded our estimates by 10% and 6%.
Earnings sensitivity.
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-10-16
Read also RHB's most recent report:
2024-11-20 Singapore Exchange (SGX) - Raising Earnings Estimates.
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 Dividends & Corporate Actions,
SGX News Articles
