Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Are SGX shares worth trading now?

UOB analysts have raised their price target on the stock to S$9.55 a share while keeping a 'hold' call.

Source: Bloomberg
  • Singapore Exchange Ltd (SGX: S68) share price rallied to a high of S$9.67 on Tuesday (12 July 2022)
  • The bourse operator reported ‘strong’ trading volume for June 2022
  • Analysts foresee some upside on the stock in the next 12 months
  • Keen to trade SGX shares? Open an account with us to start today

SGX stock price: what’s the latest?

Singapore Exchange (SGX) shares opened higher on Tuesday, after it released market statistics for June 2022.

The blue-chip counter is up slightly in the last one month and 2.6% year-to-date.

The latest analyst sentiments published by SGX StockFacts show a consensus rating of around ‘neutral’, alongside a price target of S$10.26 on the stock.

The price target equates to a 6.7% upside potential from SGX’s last traded price of S$9.62 on Wednesday.

UOB and RHB analysts recently reiterated ‘hold’ and ‘neutral’ calls on the stock. UOB raised price target to S$9.55 a share from S$9.33 previously, while RHB kept price target unchanged at S$10.40 a share.

UOB’s equity research team increased its FY22-24 profit forecasts by 2% to 4% respectively, on the back of higher growth assumptions for the Fixed Income, Currencies and Commodities (FICC) segment.

Meanwhile, RHB kept their earnings estimates for FY2022 at S$625 million, which is higher than the industry average of S$606 million.

How did SGX perform in June 2022?

The bourse operator said derivatives trading activity ‘rose strongly’ in June 2022, ‘rounding off a robust half-year as sustained volatility in global markets drove institutional demand for portfolio risk management’.

Derivatives traded volume increased 24% year-on-year (YoY) in June to 23.5 million contracts, the highest in three months.

For the first half of 2022 – a period when participants were challenged by severe market conditions, volume was up 13% from July to December 2021 at 116.7 million contracts, with derivatives daily average volume (DDAV) rising 18%.

SGX Equity Derivatives traded volume also increased 25% YoY in June to 16.9 million contracts. Gains were led by SGX FTSE China A50 Index Futures, as volume climbed 20% YoY for the month to 9.4 million contracts.

Foreign exchange (FX) derivatives saw total futures traded volume rising 21% YoY to 2.9 million contracts. The volume of SGX USD/CNH Futures climbed 59% YoY to 1.5 million, reinforcing the contract’s position as the world’s most widely traded international RMB futures.

Commodity derivatives volume rose 32% YoY in June to 2.9 million contracts, led by a 43% YoY gain in benchmark iron ore derivatives to 2.6 million contracts.

Thinking of trading SGX shares?

Go long or short via CFDs on SGX and other Singapore shares with our award-winning platform.* Open an account with us to start trading shares immediately.

*Awarded the Best Online Trading Platform by Influential Brands in 2021.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.