Singapore Exchange (SGXL.SI), Asia's second-largest listed bourse by market value, reported a quarterly net profit almost unchanged from a year ago, beating expectations.
SGX warned that near-term, the market is expected to be affected by significant global macroeconomic factors which would affect primary as well as secondary market activities.
SGX said its April-June net profit was $79.5 million, compared with $79.6 million a year ago. This was above the $67.3 million average forecast from four analysts polled by Reuters.
SGX is focusing on building its existing business through the launch of new financial products after its US$8 billion ($9.6 billion) bid to buy rival ASX (ASX.AX) was blocked by the Australian government earlier this year.
Its growth, however, is challenged by stagnant securities turnover, which accounted for about 44 percent of operating revenue in the full 2010-11 financial year.
SGX has also fallen behind Hong Kong in attracting mega-listings from global and Chinese companies, and is in danger of losing some of the better-quality Chinese companies listed on its bourse due to the low valuations commanded by these firms.
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