Shares of Singapore Exchange (SGX) declined 0.4% to S$17.57 in Friday's session, with trading volume reaching 5 million shares. The stock finished approximately 3% below its 52-week peak.
Earnings and Dividend Details
SGX reported an adjusted net profit of S$357.1 million for the six months ended December 31. The board declared an interim dividend of 11 cents per share, with a record date of February 13 and payment scheduled for February 24.
Analyst Perspectives and Market Context
Broker commentary remained generally positive, though analysts highlighted different drivers. Some pointed to the strength of the fixed income, currencies, and commodities division as a risk management hub, while others emphasized derivatives as the core long-term growth engine, not cash equities. A contrasting sell rating cited the potential risk to SGX's fee structure if competitive pressures intensify.
The broader Singapore market retreated 0.8%, led by technology stocks, in a move characterized by one strategist as profit-taking rather than a fundamental shift in sentiment.
Focus Shifts to Macroeconomic Events
Attention now turns to Singapore's policy calendar. The Ministry of Trade and Industry will release the Economic Survey of Singapore 2025 on February 10, providing key data on fourth-quarter and full-year GDP, inflation, employment, and productivity.
This will be followed by the national Budget 2026 on February 12. Economists project a fiscal surplus between 0.3% and 1% of GDP, with expectations for measures addressing long-term structural constraints on land and labor.
For SGX, these events will influence local risk appetite and trading volumes. A sustained decline in market volatility or a softer interest rate environment could pressure trading fee and treasury income. Trading resumes Monday, with the exchange's dividend record date on February 13 also in focus.