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SGX's Q2 net profit up 5.5%

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SINGAPORE Exchange's (SGX) net profit rose 5.5 per cent to S$88.3 million in its second fiscal quarter on higher activity in its securities market.

SINGAPORE Exchange's (SGX) net profit rose 5.5 per cent to S$88.3 million in its second fiscal quarter on higher activity in its securities market.

On a per-share basis, net profit was 8.2 Singapore cents per share for the three months ended Dec 31, 2016. For the six months to December, net profit fell 6.3 per cent to S$171.4 million, or 16 Singapore cents per share.

SGX is declaring a dividend of 5 Singapore cents per share, in line with its year-ago payout.

Looking ahead, SGX said that "while market sentiments have improved, uncertainty around future US policies and slowing Asian economies will influence trading activity going forward."

SGX also said on Thursday that it will sell its entire 4.75 per cent stake in the Bombay Stock Exchange (BSE) via BSE's initial public offering for S$42.8 million to S$42.9 million, a loss of about S$2 million. The IPO is expected to close on Jan 25.

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