A robust 4Q20 trading volume prompted Leng’s bullishness on SGX, with SADV coming in at $1.57 billion as at June 3. The first three weeks of June similarly came in even higher at $1.86 billion, far exceeding initial predictions of $1.29 billion stemming from weakness for 1HFY20.
SINGAPORE (June 25): RHB analyst Leng Seng Choon has upgraded its call on Singapore Exchange SGX from “neutral” to “buy” over strong securities average daily value (SADV), which it raised by 15% to $1.32 billion in FY21.
Volatility arising from market volatility, he says, could lead to heightened trading volumes going forward.
