Singapore Exchange Shares No Longer Have Zero Buy Ratings
- Jefferies, RHB upgrade amid BidFX acquisition, strong volumes
- Analysts had been bearish since MSCI derivatives move
Photographer: Roslan Rahman/AFP via Getty Images
This article is for subscribers only.
Analyst confidence in Singapore Exchange Ltd. is gradually being restored after the bourse operator lost all of its buy recommendations over a month ago.
Jefferies Financial Group Inc. and RHB Securities Singapore Pte. have lifted the stock to buy in the past week. CGS-CIMB Securities International Pte. and Macquarie Group Ltd. also recently upgraded the shares, to the equivalent of a hold rating. The brokers cited reasons including the exchange’s acquisition of a foreign exchange trading platform and strong trading volumes amid volatility related to the Covid-19 pandemic.