(See also: SGX securities market value for Feb up 35% m-o-m to $28.2 bil)
SINGAPORE (March 15): RHB is maintaining its “buy” call on the Singapore Exchange (SGX) with an unchanged target price of $9.10, even as it lowers its FY17F securities average trading volume (SADV) projections to $1.19 billion from $1.27 billion previously on weaker than expected volume pick-up in February this year.
In a Wednesday report, analyst Leng Seng Choon notes the bourse’s strength in trading volumes over the past two months, with Feb’s SADV jumping 38% m-o-m. Assuming continued strength for FY18, the research house’s estimation of FY18F SADV remains unchanged at $1.35 billion.
