0342 GMT - Singapore Exchange may benefit from a new short-term interest-rate futures contract set to be introduced in 2H, RHB Research analyst Shekhar Jaiswal says in a research report. The contract, linked to the Singapore Overnight Rate Average and Tokyo Overnight Average Rate, comes as global investors seek more transparent, cost-effective tools to hedge and trade fluctuations in interest rates, the analyst notes. RHB raises its FY 2024 derivatives daily average volume estimate for SGX by 0.6%. It is also optimistic about improvements in the company's FY 2025-2026 securities daily average value. RHB raises the stock's target to S$10.00 from S$9.60 and keeps its neutral rating. Shares fall 0.2% to S$9.41. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 17, 2024 23:42 ET (03:42 GMT)
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