For them, the “key positive” in the earnings report was the sequential improvement in unit average derivatives fees which have continued to rise despite new competition.
While Singapore Exchange’s (SGX) 1HFY2022 results mostly met expectations, analysts note low treasury income and weaker cash equities for the period.
Citi Research analysts Robert Kong and Tan Yong Hong issued the biggest rerating. In a Feb 7 note, Kong and Tan upgrade SGX to “buy” from “sell”, with an increased target price of $10.50 from $9.
