“The bourse is a direct beneficiary of efforts to revitalise the equity market and increase wealth allocation to Singapore assets. Higher IPOs, regulatory shifts, and the launch of crypto perpetuals are among the recent initiatives. These should lead to volume strength and earnings,” says JP Morgan Harsh Wardhan Modi in his April 3 note, where he not only kept his “overweight” call but has also raised his target price from $20 to $22.
For more than a month, investors around the world have been fretting over the White House’s U-turns and the ever-looming threat of geopolitical contagion. As they buy or sell more quickly in response to the latest headlines, stock exchanges, which levy a fee on each trade, have become the clear winners amid the volatility.
Here in Singapore, the benchmark Straits Times Index was tightly held near the 5,000 mark as investors wrestle with themselves while the White House occupant talks to himself. Amid this, the Singapore Exchange Group (SGX), one of the index’s 30 component stocks, has seen its share price reach new highs. Nonetheless, analysts find other reasons to like this stock.
