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SGX
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famouspinky
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13-Feb-2018 22:35
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Yup
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JoeJordan
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13-Feb-2018 22:32
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www.moneycontrol.com/news/business/markets/comment-why-bse-nse-taking-on-the-singapore-exchange-is-an-exercise-in-futility-2506925.html | ||||
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sg_investor
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13-Feb-2018 12:31
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Looks like a bear trap again. DOYDD. |
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mrwise
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13-Feb-2018 06:59
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It will go up again....knee jerk effect ....like Keppel corp.... | ||||
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Wind22i
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12-Feb-2018 23:41
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India checkmate sgx... | ||||
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Goldfinger
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12-Feb-2018 22:59
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Probably no need to be personal. It cheapens the sanctity in this forum.
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wavehunter
Supreme |
12-Feb-2018 22:42
Yells: "Trade what you see, not what you hope to see." |
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 ANALYSTS kept their ratings on Singapore Exchange (SGX) unchanged on Monday as the stock fell 7.1 per cent amid doubts about the future of the market operator' s Indian equity index-linked derivatives. SGX stock lost 56 Singapore cents to S$7.31 apiece as at 10.22am on Monday. Some 9.2 million shares changed hands, making it one of the most active counters on the Singapore bourse in early morning trade. This came on the back of India' s announcement that its national stock exchanges will stop providing data feeds to foreign rivals, and eventually halt the trading of offshore derivatives tied to India' s benchmark indices such as the Nifty 50, as part of a concerted move to prevent trading volumes from moving overseas. SGX, which offers the popular SGX Nifty 50 index futures, was busy soothing market participants over the weekend. In a statement on Sunday, the SGX said that the market for its entire India suite of products will open and operate as per normal on Monday. At the very minimum, it will be business as usual till August, the SGX said. Under its licence agreement with India' s National Stock Exchange (NSE), there is a six-month notice period for termination. As at 11.03am, there were 2,800 contracts traded for the SGX Nifty 50 Index Futures February contract, and three for the March contract. Analysts at RHB Research, DBS Bank and OCBC Bank kept their ratings unchanged on SGX' s stock, despite describing the Indian development as a negative event. OCBC maintained its " hold" rating, with a 12-month target price of S$8.48 against its fair value estimate of S$8.16. OCBC analyst Carmen Lee said that the termination of Nifty licensing could result in a " knee-jerk reaction on SGX' s shares this morning" , along with some downgrades that could dampen SGX' s share price for the near term. RHB Research kept its " buy" rating with a target price of S$9, noting that SGX Nifty Index futures accounted for about 12 per cent of the exchange' s total derivatives volumes during the latest quarter. RHB estimated a 10 per cent decline in the derivatives average daily valume to lower the stock' s fair value to S$8.36, while a 20 per cent decline would drag fair value to S$7.71. " The impact on FY18 financials is seen as limited, but would be felt more so from FY19 onwards," RHB said. " SGX has indicated that it would work on new product developments to help offset this adverse impact. We are not adjusting our earnings, as we await more information from the company on new products," the broker said. DBS analyst Lim Sue Lin, who has a S$8.90 target price and a " buy" rating on SGX, said that the share price could be under pressure in the near term, pending the resolution of the current situation. However, " SGX' s stock price should still be supported by its stable and sustainable dividend yield of 4 per cent and its continued efforts to drive market liquidity and new product initiatives, which should bear fruit in the coming years, including the recently announced trading link with Bursa Malaysia," Ms Lim wrote. Separately, FIA, a trade association for global listed and cleared derivatives market, said that India' s move " appears likely to disrupt trading on numerous exchanges around the world and alarm international investors" . " We believe that accessible markets are essential for the optimal growth and development of liquidity, and allow customers to hedge their risks and manage their exposures in the most efficient way possible." FIA added: " We look forward to discussing this announcement with the Indian exchanges and working with our members to more fully understand the consequences for derivatives markets and their customers." |
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famouspinky
Supreme |
12-Feb-2018 22:33
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This time u hav some brains.
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Goldfinger
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12-Feb-2018 22:16
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SGX was probably too arrogant and failed to cultivate good ties with the index provider. Failed. | ||||
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Goldfinger
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12-Feb-2018 22:06
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SGX blood is gushing now. | ||||
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Goldfinger
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12-Feb-2018 22:05
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Not true if you are hedging or taking Indian stock exposure using Nifty. Same thing can happen with the A50 and Nikkei.
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Goldfinger
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12-Feb-2018 22:02
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Other index providers can follow Nifty lead. SGX is not immune. Bleak.
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MichaelSchenker
Master |
12-Feb-2018 21:55
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Yup, high volume sell-down. Does not look good at all. Those buddies who are still holding should consider hedging, ie: short selling for margin.
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Goldfinger
Supreme |
12-Feb-2018 20:22
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SGX wiped out ... | ||||
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wavehunter
Supreme |
12-Feb-2018 10:56
Yells: "Trade what you see, not what you hope to see." |
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Price has stabilised at 7.34 to 7.38 for now as bulls and bears lock horns and fight it out.
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wavehunter
Supreme |
12-Feb-2018 10:52
Yells: "Trade what you see, not what you hope to see." |
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Waaa lau.... this thread becomes a Crab Show ar... what a crap !!!  
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WanSiTong
Supreme |
12-Feb-2018 10:46
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wavehunter
Supreme |
12-Feb-2018 10:41
Yells: "Trade what you see, not what you hope to see." |
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I also have the same crab but its another picture altogether.
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wavehunter
Supreme |
12-Feb-2018 10:39
Yells: "Trade what you see, not what you hope to see." |
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Wait for analysts to comment lor. If live data feed is cut off and traders here cannot trade the Nifty 50 thru SGX, then they will simply find something else offered by SGX to trade lor. And the income earned from traders trading the Nifty 50 will still be earned by SGX when these traders trade something else. Becoz this cutting off of live data feed applies to all other Exchanges, not just SGX. So we are not looking at a situation where the Nifty 50 is not offered by SGX due to its licensing partnership being terminated but is offered by the Taiwan Stock Exchange or some other regional Exchange. The cut off is for all Exchanges. As such, it wont be a case of traders who used to trade the Nifty 50 thru SGX now go to another Exchange to trade this product. When the cut off takes effect, this product is off the menu. So traders will simply find other products offered by SGX, to trade. The revenue is still earned by SGX. So impact will be minimal. Its the same for retail traders like us who trade stocks. When a stock we trade in frequently is suspended or taken private and is off the menu, we simply find other stocks to trade. We dont go running off to another stock exchange to trade. Same logic lah.
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sg_investor
Member |
12-Feb-2018 10:12
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This is what bottom fisher gets at times. 
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