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. Being a financial hub, it is a given that Singapore has a vibrant stock exchange to stay competitive in the region. Yet the dearth of IPOs and the horrifying valuations of listed companies in Singapore led to a slew of delisting in SGX in recent years.
Although SGX’s decline has been on-going for a long time, the decline was notably significant since 2015, which coincided with the departure of the previous CEO Magnus Bocker. When CEO Loh Boon Chye took over the helm, SGX was already struggling to deal with the …
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