Singapore Exchange 02 (Feb 10 - Jan 11)

[trendlines]

My pleasure Lena, i much rather see them yell certainty!

[Chinaman]

Singapore Exchange: Back to the drawing board!
A break below the uptrendline & $8.30 level could be medium-term bearish for SGX. As always, i will have a suitable stop-loss in place. All the best!

Overall, the long-term chart of SGX doesn't suggest strength so far, which leads me to theorize that the merger may not work out eventually! Time will tell, but charts do whisper and occasionally yell.

SGX at 8.25 maybe a good buy.
I bet the merger will go thru'

Those bot at 10.20 now obk liao...'oh bak kar' mean blue black eye.

Waiting to go-in

Not vested yet

[kennynah]

just a thought...

if price has already moved up becos of this merger news...then, even if this deal pulls through.... the classic "selling into the news" could well just happen...

good luck...

[iam802]

2010Dec-SGX-800x600.png

Note the resistance and change in trend.

From current price level to possible kumo breakout level, the spread is about $1

So, there is a need to think about how we deploy the funds.

It is also possible that it will break support below and fall $1 as well.

[winston]

Not vested

Maintain Trading Sell and target price of S$8.26, still based 19x CY12 P/E.

SGX is due to release 2Q11 results on 18 Jan, before the market opens. We expect
earnings of S$94.5m (up 27.4% qoq) on the back of stronger qoq ADT in equities and
derivatives growth.

Securities turnover was up 13% qoq, although the quarter included a tepid December. Yoy, securities turnover should be down 11%.

Demand for ADRs, launched on 22 Oct, was not as robust as expected. Hence, we cut our FY11 ADT to S$1.96bn, which lowers our FY11 EPS estimate by 2.6%.

We are keeping our FY12- 13 numbers intact. Our new FY11 ADT assumption implies 2H11 ADT of S$2.1bn/day.

Due to the possibility of a SGX-ASX merger and the large arbitrage gap between SGX and ASX currently, we expect SGX’s share price to drop and ASX’s share price to rise, narrowing the arbitrage gap, as the clearing of each regulatory hurdle (including shareholders’ approval) removes uncertainties of the deal and encourages arbitraging activity.

Source: CIMB

[LenaHuat]

just a thought...

if price has already moved up becos of this merger news...then, even if this deal pulls through.... the classic "selling into the news" could well just happen...

good luck...

Hi K
Did U read GohEngYeow's article in the BizTimes. I subscribe to his views. This reporter has brains .
Why is MayBank paying US$1.4b to buy KimEng? One of the reasons : backdoor entry to ASX.
This merger will succeed

[kennynah]

ho say lah L

cheong cheong

[LenaHuat]

A CIMB research report has this piece of news:-

Figure 1: Merger schedule timetable
Ev e n t -
First Court Date - By the end of February 2011
Bidder Shareholder Meeting - March 2011 (and 16 days prior to Scheme Meeting)
Scheme Meeting - Late March 2011
Second Court Date - April 2011, or as soon as possible after all of the Regulatory Conditions have been satisfied
Effective Date Implementation Date - 2nd Quarter 2011

I don't know what 'court' meant here but thought I would post this first and investigate later.

[winston]

Not vested.

SGX Q2 profit S$81.7m, misses expectations

SINGAPORE - Singapore Exchange, Asia's second-biggest listed bourse, said its quarterly net profit rose 14 per cent, excluding costs related to merger proposal with ASX, as a jump in technology spending partially offset higher securities turnover, missing expectations.

Source: Business Times

[LenaHuat]

LiKaShing looks set to create a record for SGX, listing his port assets here. I suppose there will be more news in 2morrow's HK papers.