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RHB raises target price for SGX on better trading momentum

Atiqah Mokhtar
Atiqah Mokhtar6/23/2021 04:11 PM GMT+08  • 2 min read
RHB raises target price for SGX on better trading momentum
RHB has raised its TP for SGX from $11.60 to $12.30.
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RHB Group Research has raised the target price accompanying its ‘buy’ rating for Singapore Exchange (SGX) from $11.60 to $12.30 following ‘robust’ trading momentum in May.

RHB’s Singapore research team notes that securities and derivatives trading both picked up last month. Total securities trading value rose 12% y-o-y to $30 billion, while securities average daily value (SADV) grew 6% y-o-y. For derivatives, total contracts traded grew 6% y-o-y to $18 million, though derivatives average daily value (DADV) remained flat.

See also: SGX to exploit carbon data as the new oil

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