Singapore Exchange - OCBC Investment Research 2025-04-28: Positives Likely Priced In

• We upgraded our rating on Singapore Excange (SGX) to ‘BUY’ on 10 Apr 2025 given our expectations that it would be a beneficiary of the heavier-than-average trading volume on the local bourse, coupled with a pullback in its share price then given broad equity market weakness from the tariff situation. See report: SGX - Expect Increased Trading Activities From Market Volatility

SGX's share price has rebounded strongly.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• The value of shares traded was exceptionally high on 7 Apr (S$4.2b) and 8 Apr (S$3.5b), which were days after the “Liberation Day” tariff announcements by US President Trump. We expect such high trading activity to directly benefit SGX.
• On an average daily basis, the value of shares traded on the Singapore Exchange came in at S$2.03b, S$1.47b, S$1.47b and S$1.03b for Apr (up till 25 Apr), Mar, Feb and Jan 2025, which were 68.8%, 24.7%, 18.4% and 11.9% higher as compared to the S$1.20b, S$1.18b, S$1.24b and S$0.92b recorded in Apr, Mar, Feb and Jan 2024.

Increase our fair value estimate to S$14.78

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Previous report by OCBC:
2025-04-10 SGX - Expect Increased Trading Activities From Market Volatility.

Price targets by 5 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