Singapore Exchange - RHB Research 2026-01-06: Strong 1HFY26 Earnings Outlook

• While December’s operating metrics should be seasonally soft, we forecast a 12% y-o-y growth in 1HFY26 (Jun) core profit, supported by strong y-o-y growth in securities daily average value (SDAV) and derivatives daily average volume (DDAV).
• The medium-to long-term outlook remains underpinned by regulatory initiatives, Equity Market Development Programme (EQDP) fund deployment and supportive macroeconomic drivers, but valuation appears stretched.

Singapore Exchange is scheduled to report 1HFY26 results on 5 Feb 2026

• - Read this at SGinvestors.io -
• Based on Bloomberg data, December SDAV is estimated at ~ S$1.15bn, seasonally softer than other months in 1HFY26 but still higher y-o-y, noting that December is typically a subdued month (SDAV of ~S$0.95bn in Dec 2024 and Dec 2025).
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What is in our estimates?

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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/.

Read also RHB's most recent report:
2026-01-12 Singapore Exchange - Marking To Market 1HFY26 Operating Data.

Price targets by 2 other brokers at SGX Target Prices.

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