Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DMG prefers HK Exchange over SGX

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STOCKS NEWS SINGAPORE-DMG prefers HK Exchange over SGX Apr 18th 2012, 02:01 Tue Apr 17, 2012 10:01pm EDT DMG & Partners recommended investors switch from Singapore Exchange Ltd (SGX) to Hong Kong Exchanges and Clearing Ltd due to better long-term earnings potential of the Hong Kong bourse. The remarks came after SGX, Asia's third-biggest listed bourse, posted a forecast-beating 16 percent rise in quarterly profit and said it sees growing interest from international companies to list in the city-state. SGX Chief Executive Magnus Bocker recently introduced a new business structure in a bid to improve its growth prospects. He is taking direct responsibility for the listings business and overseeing the separate sales and clients unit. "SGX trades at a price-earnings ratio close to peers such as Hong Kong Exchange, and we see better long-term earnings growth potential for Hong Kong Exchange. Hence, we recommend investors to switch from SGX to Hong Kong Exchange," DMG said in a report. The broker has a sell recommendation on SGX stock and a target price of S$5.40. SGX shares gained as much as 1.5 percent on Wednesday to S$6.82. They have risen by around 10 percent so far this year, underperforming the 13 percent gain in the broader Singapore benchmark index 0946 (0146 GMT) (Reporting by Harry Suhartono in Singapore; harry.suhartono@thomsonreuters.com) *********************************************************** 08:39 STOCKS NEWS SINGAPORE-Index futures rise Singapore Index Futures rose 0.91 percent early on Wednesday, indicating the benchmark Straits Times Index would open higher. Key Asian markets are opening up after forecast-beating results by some major U.S. companies, which drove the rally in Wall Street. 0833 (0033 GMT) (Reporting by Harry Suhartono in Singapore; harry.suhartono@thomsonreuters.com) Link this Share this Digg this Email Reprints

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