UOB Kay Hian cut its earnings forecasts and target price for SGX, citing the competition SGX’s FTSE China A50 Index Futures face from HKEx.
Hong Kong Exchanges & Clearing
SGX’s product offerings could help it retain customers for its China equity futures despite HKEx’s competing product, UOB KH said Thursday.
Goldman Sachs downgraded shares of SGX on news HKEx will launch an index futures contract based on the new MSCI China A 50 Connect Index.
The London Stock Exchange unequivocally rejected HKEx’s around 29.6 billion pound takeover bid, saying it had “fundamental concerns” about the proposal.
HKEx said Wednesday it made an around GBP29.6B takeover bid for the London Stock Exchange, potentially combining Europe and Asia’s largest financial centers.