Singapore Exchange 03 (Feb 11 - Dec 24)

[LenaHuat]

This ticker flew up like a wayward kite. I wish I had piled more. Wondering if I should chase it.

[LenaHuat]

Chased it.

[LenaHuat]

Only to find it being forced down at the near close of the day . I would make a poor trader and fortunately I am not.

[winston]

Not vested

RESEARCH ALERT-Credit Suisse cuts SGX target to S$7.75 vs S$9.00

SINGAPORE, July 12 (Reuters) - Credit Suisse has cut its target price for Singapore Exchange (SGX) to S$7.75 from S$9.00 and kept its neutral rating.

STATEMENT: SGX's performance in the near term is closely linked to current volumes for equity and derivative markets, which have weakened recently and represent downside risks to the exchange's earnings and ratings, Credit Suisse said.

It has also cut its earnings per share estimate for SGX in fiscal 2011 by 13 percent and by 26 percent for the following year.

However, Credit Suisse noted that SGX may see growth in the longer term through its strategy of positioning itself as a regional exchange offering international investors different ways to gain access to Asian markets.

At 0213 GMT, shares of SGX were 1.1 percent lower at S$7.42, and have fallen about 12 percent since the start of the year.

Source: Reuters

[winston]

Not vested

RESEARCH ALERT-Goldman downgrades SGX to neutral; target S$7.68

SINGAPORE, July 19(Reuters) - Goldman Sachs has cut Singapore Exchange , Asia's second-largest listed bourse operator, to neutral from buy and lowered its target price to S$7.68 from S$10.37.

STATEMENT: Goldman has cut its estimates for SGX's average daily turnover and earnings per share, citing the bourse's muted turnover or initial public offering activities so far.

The bank said that although weak volumes are largely reflected in SGX's year-to-date share price underperformance, it has downgraded the stock given the uncertain global macro outlook, lack of near-term catalysts and weak volume trends.

While Goldman said SGX management has continued its focus on innovation through measures such as new derivative products, the net improvements to turnover or derivative volumes appear marginal.

Upside catalysts include a rise in turnover and clarity on capital deployment, Goldman said. At 0301 GMT, SGX shares were down 0.3 percent at S$7.19 and have fallen nearly 15 percent so far this year.

Source: Reuters

[iam802]

SGX has been heading down since last Oct.

My gut feel is that $7 may not hold.

[LenaHuat]

I plan to pick up more between $7 and $7.09. I don't have any special news but IMHO it has got one of the most hardworking management team.

[LenaHuat]

Be careful with this ticker. There seems to be almost always a push down or up in the last 10 minutes of the day.
I have no idea why this is so.

[LenaHuat]

Following Credit Suisse, GS now puts SGX on 'neutral':-

SINGAPORE - Goldman Sachs has cut Singapore Exchange, Asia's second-largest listed bourse operator, to neutral from buy and lowered its target price to S$7.68 from S$10.37.

Goldman has cut its estimates for SGX's average daily turnover and earnings per share, citing the bourse's muted turnover or initial public offering activities so far.

The bank said that although weak volumes are largely reflected in SGX's year-to-date share price underperformance, it has downgraded the stock given the uncertain global macro outlook, lack of near-term catalysts and weak volume trends.

While Goldman said SGX management has continued its focus on innovation through measures such as new derivative products, the net improvements to turnover or derivative volumes appear marginal.

Upside catalysts include a rise in turnover and clarity on capital deployment, Goldman said. At 0301 GMT, SGX shares were down 0.3 per cent at S$7.19 and have fallen nearly 15 per cent so far this year. -- REUTERS

[LenaHuat]

SGX is holding well. Pages 6 and 20 points to the future (read the presentation slides on "expenditure on technology" and the "spike in volume of derivatives")
http://www.sgx.com/wps/portal/sgxweb/home/shareholders