SGX falls on poor quarterly earnings

Shares of Singapore Exchange (SGX) (SGXL.SI), Asia's second-largest listed bourse by market value, fell as much as 1.5% on Tuesday after it reported its lowest quarterly profit in two years.

At 9:01 a.m., SGX shares were 1.2% lower at $7.98 with over 260,000 shares changing hands.

SGX said on Tuesday its third quarter net profit was $67.02 million, compared with $74.6 million a year earlier and missing analysts' estimates of about $85 million, as the firm was hurt by costs related to its failed bid for Australian bourse ASX (ASX.AX) and higher technology spending.