Despite this, the SDAV has fallen m-o-m since then, with May’s value coming in at $1.3 billion and Bloomberg estimating June’s SDAV to arrive at $1.2 billion.
RHB Group Research (RHB) analyst Shekhar Jaiswal has raised his target price (TP) on the Singapore Exchange Group (SGX) from $14.10 to $16. The analyst has maintained his “neutral” call on the stock’s recent share price rally, which opened at a five-year high of $15.23 on July 7.
Jaiswal notes in his report that the rally likely reflects investor rotation into Singapore as a safe haven, with the securities daily average value (SDAV) reaching $1.9 billion in April.
