SGX share price (SGX: S68) in biggest crisis
LIFETIME MEMBERSHIP Can CEO Loh Boon Chye make Singapore Exchange great again? Since the onset of the pandemic, SGX share price (SGX: S68) rocketed from a low of $8.20 in July 2020 to a mighty high of $12.05 on 4 August 2021. The bubble finally burst for SGX share price (SGX: S68) when the bourse announced a full-year financial result that saw net profit dropping 6% on year-on-year basis. While the drop is not alarming, the market reacted – SGX share price (SGX: S68) crashed by a staggering 18% by the end of August from the high of $12.05.
To put things into perspective, SGX share price (SGX: S68) thrives on crisis. In fact, the previous record high of SGX share price (SGX: S68) was $15.90 recorded in October 2007. That was the period of the Great Financial Crisis. Back in 2007, the average daily trading value was $1.6 billion and there were 46 new equity listings. Fast forward 14 years later, the average daily trading value shrunk to $1.4 billion while there were only 10 equity listings.
Yet the most worrisome thing about SGX share price (SGX: S68) is not really the short-term volatility. Rather, it is the devastating long-term decline of SGX that gives investors the jitters.Read more