July 19, 2010By: martinwo Category: Economic, KLSE
What’s on the table
Results – Bursa Malaysia 2QFY10 below – Trading down
Bursa’s 1H10 net profit (+10.1% yoy) was only 37-42% of our full-year forecast and consensus. The main culprit was velocity which came in at 31% vs. our full-year projection of 38%. Overall, equity trading revenue climbed 13.4% yoy but derivative revenue fell 17.1% yoy in 1H10. Factoring in lower velocity of 35%, we (more…)