Singapore Stock Exchange, trying to take advantage M & DF.

<P> Integration in the global stock exchange turmoil, investors may be selected Singapore as a long-term investment goals. .</ P> <P> around the world, those who may be a takeover target's stock exchange listing of a rose to rise. .By Nasdaq (Nasdaq Stock Market) saw in the London Stock Exchange (London Stock Exchange) rose nearly doubled this year. .</ P> <P> the New York Stock Exchange (New York Stock Exchange) of the parent company of NYSE Group in a recent filing with the Securities and Exchange Commission (SEC) said the paper, it is working with several exchanges on the merger or strategic .co-operation negotiations, M & A activity to prevent other exchanges leading global exchanges for its threat status. .</ P> <P> long time, the Singapore Exchange (Singapore Exchange Ltd, referred to as: SGX) has been larger, favored by Chinese mainland enterprises, Hong Kong Exchanges and Clearing Limited (Hong Kong Exchanges & Clearing Ltd .., referred to as: Hong Kong Stock Exchange) is overshadowed. .SGX has its own unique charm, however: the acquisition of other exchanges is expected to become the object, and continued growth in the Asian capital markets has a place. .SGX shares have risen 44% so far this year. .</ P> <P> but it may be to expect the recent trend of investors involved in the buying opportunity. .The company released in April 11 after strong quarterly results, many analysts warned that the exchange may be difficult to further support its stock price soared. .Subsequently, the stock fell more than 6%. .Including clearing fees, including income on the SGX securities trading has made a significant contribution to the performance. .As of March 31 for 3 months, the company's total revenue growth of 25% over the previous quarter, rose 58%. </ P> <P> "We believe the current share price level, the current and expected .strong factor in stock trading volume has already been digested by the market, "Singapore brokerage DBS Vickers (DBS Vickers Securities) analyst David Mok said. .Mok SGX last week downgraded the stock to hold, while the 12-month target price raised to 4.40 Singapore dollars (2.75 U.S. dollars). .</ P> <P> He explained that if the SGX with an overseas exchange deal in the short term the stock is expected to strengthen. .Earlier this month, the Singapore Exchange and Nasdaq to start rumors, driven by merger talks, the stock was sharply higher. .But the Singapore Stock Exchange denied the rumors. .</ P> <P> apparently some institutional investors have high hopes for consolidation trend, they are actively buying the Asian regional stock exchanges. .Track sales transactions of institutional investors FactSet Research Systems, last year, including Fidelity Investments in Hong Kong (Fidelity Investments Management (Hong Kong) Ltd)., San Francisco, Barclays Global Investors NA and Deutsche Asset Management (Asia) Ltd. Including .large number of holdings of asset management company in Singapore Stock Exchange stocks. .The companies did not comment on stock trading, but others said some investors in recent months, most of the buying is based on the SGX may cooperate with other exchanges, or become acquisition targets based on expectations. .</ P> <P> last week, Monetary Authority of Singapore (Monetary Authority of Singapore) said it would consider allowing strategic investors to acquire SGX 5% or more equity interest, which makes those looking forward to the acquisition of a more confident investor. .Investors that had previously been speculation that the government may fear the added threat of large organizations to SGX's position of authority, the HKMA's remarks eventually calm such fears. .HKMA under the jurisdiction of the Financial Services Fund SEL Holdings holds about 24% of the Singapore Exchange shares. .Singapore Exchange are required to obtain any strategic cooperation approved by the MAS. .</ P> <P> at Morgan Stanley (Morgan Stanley) analyst William Wong seems that the recent drop is only temporary SGX share price correction. .He will SGX Stock Exchange listed stocks in the region, the preferred shares, and in the April 12 report that, SGX-date with the U.S. Futures Exchange Chicago Board of Trade (Chicago Board of Trade) was established as a joint venture .SGX's growth has brought great power. .</ P> <P> the joint venture launched last September, mainly to carry out the Asian-based commodity futures and options trading. .Currently, the exchange-based Morgan Stanley Capital International (Morgan Stanley Capital International) the index of financial futures, but the Singapore Exchange is expected, in cooperation with the Chicago Stock Exchange, SGX will also be introduced based on metals, energy and .More varieties of farm produce trade. .Singapore has always been to enrich the variety of derivative products known, and has become a global energy and metals futures contracts over the counter center. .</ P> <P> but it also has negative side, Singapore and other Asian exchanges in competition with large enterprises in Asia and the most popular initial public offering (IPO) has been powerless when. .This is relatively low in the SGX trading can be seen on the velocity of circulation. .Transactions daily turnover velocity is the ratio of the total market value. .Singapore Exchange trading flow rate of 64%, far behind the 89% of the Hong Kong Stock Exchange, Korea Stock Exchange 225% and 125% of the Japanese exchange. .</ P> <P>, of course, Morgan Stanley Wong said it precisely that as more and more capital into Asia, SGX will show greater growth. .Particularly evident in the influx of hedge funds, many hedge funds in Asia, Singapore as a base camp. .</ P> <P> addition, Wong said in a report from the comparison with the valuation point of view other exchanges, SGX stock is also attractive. .Based on 2006 earnings per share, the stock trades at 23 times expected, compared with nine times the global average of 27 exchanges with low price-earnings ratio of 15%. .Hong Kong Stock Exchange is expected earnings of 35 times. .The nine global exchanges including London Stock Exchange, the German Stock Exchange (Deutsche Borse), the Hong Kong Stock Exchange, Australian Stock Exchange (Australian Stock Exchange) and the Malaysia Stock Exchange (Bursa Malaysia). .Wong expects SGX stock price jumped more than 20% next year. .The stock on Tuesday closed at 4.18 Singapore dollars. .Wong will be the stock price target of SGD 5. .</ P>.