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Shares of Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse operator, fell as much as 0.47% on Tuesday after it posted lower-than-expected quarterly earnings.
At 9:35 a.m., Singapore Exchange was down 0.24% at $8.41 with 272,000 shares changing hands.
At 9:35 a.m., Singapore Exchange was down 0.24% at $8.41 with 272,000 shares changing hands.
SGX reported an adjusted 14% rise in October-December profit, as a jump in technology spending partially offset higher securities turnover.
The company said it earned $81.7 million adjusted net profit in October-December, compared with $71.8 million a year ago.
Analysts had forecast an average $84.7 million net profit for the company’s second quarter, according to a Reuters survey of five analysts.
“Their latest earnings are unexciting. Going forward, there’s still uncertainty about the merger with ASX, so SGX’s shares are likely to be capped by that,” said a local trader.
