Singapore Exchange (SGX) shares fell to a low of $13.60 within the first hour of trading on Feb 10, some 2.8% down from its $13.99 close prior to the weekend on Feb 7.
SGX shares later dropped further to a low of $13.46 around 10.20am.
SGX shares had surged 10% on Feb 7, a day after the bourse operator released its financial results for 1HFY2025 ended Dec 31, 2024. This marked the counter’s highest close since December 2007 and brought SGX closer to its highest close of $16.40, which it notched on Oct 8, 2007.
Elsewhere, the Straits Times Index (STI) opened at 3,910.12 points on Feb 10, briefly surpassing its previous record of 3,906.16 points last seen in October 2007.
SGX is among the 30 constituents of the STI.
The bellwether index was buoyed by share price surges from the three local banks and Singapore Telecommunications (Singtel). In particular, DBS Group Holdings surged close to 2% early on Feb 10 to an all-time intra-day high of $46.50 after posting record full-year net profit of $11.4 billion, up 11% y-o-y.
See also: STI briefly sees all-time high at 3,910 points
DBS also declared a final dividend of 60 cents per share, bringing full-year payout to $2.22 per share, 27% higher y-o-y.
In addition, DBS announced a “capital return dividend” of 15 cents per share for each quarter in FY2025.
DBS will hold an earnings call later this morning.
