Singapore Exchange's Earnings May Benefit From High Securities Turnover

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Singapore Exchange's Earnings May Benefit From High Securities Turnover

Dow Jones12:11

Singapore Exchange's earnings may benefit from high securities turnover, RHB Research's Shekhar Jaiswal says in a note.

Given Trump's U.S. election win, markets are pricing in a slower pace of Fed rate cuts, which RHB sees as positive for Singapore banks.

This would augur well for SGX's securities turnover, as banks comprise around 40% of Singapore stock exchange's weightings as measured by market capitalization, the analyst says.

Also, higher near-term market volatility amid the election's outcome should keep SGX's derivative volumes elevated.

RHB lifts its 2025, 2026, and 2027 earnings forecasts for SGX by 7.5%, 5.1% and 5%, respectively. RHB raises the stock's target price to S$12.80 from S$11.40 with an unchanged neutral rating. Shares are 2.71% higher at S$12.49.

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