SGX

SGX: Australia’s Treasurer Wayne Swan has officially rejected the proposed merger of ASX and SGX, says “it's a no-brainer that this deal is not in Australia's national interest”. News may give SGX shares a slight boost, as the overhang of a potentially costly tie-up is removed once and for all…

Daiwa, with an Outperform call, says a "ailed take-over could provide a positive near-term share price catalyst for SGX. However, upside may be slight, as SGX's shares have risen 12.3% from their March low, in part helped by news flow that the deal was facing a brick wall of opposition, while Swan's thoughts were largely made public Tuesday, resulting in a 5% rise in SGX's shares…

Uncertainty over SGX CEO Magnus Bocker's next move, and a weak domestic operating environment may also weigh. IIFL, with a Reduce rating, says the bourse faces disappointing securities turnover, margin contraction and rich valuation. SGX closed down 2% yday at $8.15.