The Business Times
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BROKERS’ TAKE

SGX falls 5.8% as initial MAS review group proposals dampen earlier optimism; Citi downgrades stock to ‘sell’

The counter could potentially give up much of its gains since unveiling its first-half results

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Crystal Heng

Crystal Heng

Published Fri, Feb 14, 2025 · 02:41 PM
    • The bourse operator posted a net profit of S$340 million for the first half ended December, up 20.7 per cent from S$281.6 million in the previous corresponding period.
    • The bourse operator posted a net profit of S$340 million for the first half ended December, up 20.7 per cent from S$281.6 million in the previous corresponding period. PHOTO: BT FILE

    SHARES of Singapore Exchange (SGX) fell as much as 6.3 per cent or S$0.85 to S$12.62 on Friday (Feb 14) as investors were less than impressed with the initial proposals to revive the equities market.

    The counter closed at S$12.69, down S$0.78, or 5.8 per cent, on turnover of 7.2 million shares.

    Citi Research downgraded its call on the SGX to a “sell” on Friday, as it expects the recent optimism priced into the counter’s valuation to unwind. It also lowered the price target of the stock to S$11.90.

    SGXCiti

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