Singapore Exchange's second quarter net profit falls 2% to $75 million
Singapore Exchange (SGX) suffered its weakest quarter in over a year as net profit for the second quarter ended December 2013 fell 2 per cent to $75 million from $76.3 million a year ago.
A penny stock rout in the local bourse over the period which bruised investor sentiment and hurt trading volumes was the main culprit.
Revenue rose 2 per cent to $165 million from $162 million a year ago.
While the securities market was weak with total traded value and daily average traded value falling 18 per cent and 19 per cent respectively, the derivatives market held up well.