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Nickyng got chance - someone just sold 150lots @13.4
ohh no.....wetting my pants now :(((((((((((((((( hee....
Quotes:
Singapore Exchange soared to another record high of 13.80 Singapore dollars on continued hopes that Southeast Asia's biggest bourse will be involved in some sort of merger and acquisition (M&A) deal.
At 12.10 pm, SGX was up 1.60 dollars or 13.7 percent at 13.30 dollars, off a high of 13.80 dollars, with 11.39 million shares traded. The stock rose more than 9 percent last week.
While valuations look stretched, analysts believe the M&A prospects makes investors a little bullish about valuations.
"The M&A (prospect) gives SGX a different kind of valuation," OCBC Securities research head Carmen Lee said.
A likely buyer of SGX is Tokyo Stock Exchange (TSE), which bought a 4.99 percent stake in SGX in June. It needs approval from the Monetary Authority of Singapore before it could raise its stake above 5 percent.
Apart from the TSE, there is no other potential buyer being talked about in the market, Macquarie Equities Research analyst Tay Chin Seng said.
"SGX is always open to merger possibilities. The only question is what does the suitor bring on to the table," Tay said.
TSE has the financial muscle to bid for SGX and at the same time it provides a good strategic fit, he said.
Tay said investors may want to start taking profits following SGX's substantial gains since last week, given that the share price is significantly above Macquarie's target price of 10.90 dollars.
"Valuations are not building in the M&A angle ... it's probably time take some profits off the table."
sgx was being 'querried' last week... their response was no different from any othe rlisted company that have been querried by SGX itself.... don't know why.. not aware of the reason of the spike in px...they have learnt the standard answers from others..
Think will be queried by MAS....but...i am sure they will respond with dunno or not aware or becos of the CD.
Pianzzz..
wow nick, tts gutsy... it seems too bullish to open short position now =)
nick, all the best!
cut the tok just do it!! shorted 1x $13.30 !! hee....wish me luck !! :P
I think SGX must be queried by SGX: " Are you aware the sudden surge in your company's share price?" Hee hee!
ha ha.. if I recall correctly, it's only SGD 3 two years ago... that's more than 330% gain for blue chip, amazing~
up by $2!
gosh.. insane..
what's the news for SGX ?
Wow, surges up $1.0.
wow wats goin on w the spike? is it some M&A goin on?
TA charts still show bullishness.
Wow ! SGX suddenly surged up to 11.80 from 11.10.
May be a good time to short, market can not goes up all the way. It will retace back.
Try my luck.
The truth is revealed... I supposed the uptrend in SGX was driven by the change in minimum bids.
Still continues to look bullish from TA point of view.
Hi tanglinboy,
Certainly looks that way to me!
Hi singaporegal,
It looks to have bottomed out indeed. Will the uptrend continue?