Singapore Exchange, Asia’s second-biggest listed bourse, reported a 23% drop in quarterly profit, hurt by a fall in securities income as volumes declined on global economic uncertainties.
In a statement after trading hours on Friday, SGX said global macroeconomic uncertainties will continue to affect markets.
The Singapore bourse operater reported April-June net profit of $61.1 million, less than the $79.5 million a year ago. The latest profit was below the $67 million average forecast by five analysts surveyed by Reuters.
The SGX said it will maintain a base dividend of 4 cents every quarter.
SGX’s CEO Magnus Bocker is facing a conundrum -- how to boost trading volume and attract large IPOs when global markets are battling a slump. The exchange has denied it is in merger talks with London Stock Exchange.
SGX stock has gained about 9% so far in 2012, beating ASX’s rise of only 3%, while Hong Kong’s HKEx’s shares have fallen about 18% so far this year.
Singapore’s benchmark Straits Times index has advanced about 14% so far this year.
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