Singapore Exchange Tumbles From 13-Year High as Profit Drops
- SGX saw a 6% decline in annual net income after costs swelled
- Total expenses could rise up to 9.5% this year, exchange says
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Singapore Exchange Ltd. shares fell sharply from a 13-year high after the bourse reported a decline in annual profit.
Net income dropped 6% from a year earlier to S$445 million ($329 million) in the year ended June 30 as expenses increased and sliding bond yields hurt treasury income, results showed Thursday. The stock slid as much as 6.9%, the most since May 2020.