Singapore Exchange downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Singapore Exchange to Underweight from Neutral with a S$10.50 price target. The stock is up 20% in the last month at the same time that the 20-day moving average on SGX trading volumes has declined by 13% in the last month, which is a catalyst for near-term downside, the analyst tells investors.