HSBC starts coverage of Singapore Exchange stock with a Buy

Singapore Exchange (ISIN SG1J26887955) had a prior close of EUR 14.60 at Lang & Schwarz on October 5, 2026, as HSBC started coverage with a Buy rating and a SGD 26.00 price target on October 6, 2026, according to Investing.com. The call puts valuation against a business that delivered record FY2026 results.

HSBC opens with a SGD 26.00 target

Investing.com lists a SGD 24.23 average 12-month target and a SGD 26.00 HSBC target, with the latter dated October 6, 2026. The same page records 7 Buy, 8 Hold and 2 Sell ratings across 17 analysts, leaving the overall consensus at Neutral.

On the Singapore Exchange, SGX closed at SGD 21.04 on October 6, 2026, against a 52-week range of SGD 16.23 to SGD 25.69. The level places the exchange operator below its 52-week high while the analyst debate centers on whether earnings growth can justify the valuation.

FY2026 growth raises the stakes

SGX reported FY2026 net revenue of SGD 1.50 billion, up 13.90 percent year on year, while adjusted net profit rose 24.60 percent to SGD 759.50 million, according to The Business Times. Reported net profit increased 7.80 percent to SGD 698.40 million, and earnings per share reached SGD 0.653.

The comparison matters because the reported growth is not limited to one operating line. SGX's FY2026 total dividend reached SGD 0.57 per share, up 52.00 percent from the previous financial year, while the proposed additional dividend was SGD 0.125 per share, according to The Business Times.

FX momentum meets valuation pressure

SGX was named the World's Best FX Exchange for a second consecutive year on October 1, 2026, in a company release. The release said FX futures volume rose 19.30 percent year on year to USD 5.89 trillion over the award review period from June 1, 2025, to May 31, 2026, according to SGX.

The counterweight is market concentration and valuation. The Edge Malaysia reported that SGX had fallen 19.00 percent from its August 26 record by October 5, 2026, while Citi cut its target to SGD 17.70 and retained a Sell rating.

SGX remains below its record

SGX's Singapore-market close of SGD 21.04 on October 6, 2026, stood below its SGD 25.69 52-week high, while its prior close at Lang & Schwarz was EUR 14.60 on October 5, 2026.

The further course of trading is shown by the continuously updated real-time quote of SGX stock.

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