SINGAPORE (Nikkei Markets) -- Singapore Exchange said it expects its securities business to improve even as it posted a drop in quarterly profits, hurt by fewer new listings and shrinking stock market trading values.
SGX blamed the fall in securities revenue on weakness in global stock markets, which it said made investors more cautious. Its revenue from companies seeking to list on it fell 15% from a year ago in the third quarter ended March, while securities trading and clearing revenue dropped 30%.
