UPDATE 2-Singapore Exchange HY profit jumps, flags bleak near-term global growth

(Recasts paragraph 1, adds background in paragraph 2, details on earnings and CEO comments in paragraphs 5-7)

Feb 1 (Reuters) - Singapore Exchange (SGX) posted a jump in its half-yearly profit on Thursday, supported by its currency and commodity derivatives business, but flagged headwinds from rising geopolitical tensions and challenging macro environment.

"We are cautious on the near-term outlook as prospects for global growth appear muted. Rising geopolitical tensions and divergence in economic performance are likely to add to the headwinds and uncertainties that we are facing," the company said in a statement.

The bourse operator's adjusted net profit attributable was S$251.4 million ($187.61 million) for the six-month period ended Dec. 31, compared with S$236.8 million a year earlier.

Higher volume for currency and commodity derivatives helped offset a decline in market turnover in the equity unit as uncertainty in the global interest rate outlook and a slowing Chinese economy weighed on sentiment.

SGX said its fixed income, currencies and commodities business revenue rose 28.1% to S$151.9 million in the first half, accounting for 25.6% of its total revenue, while revenue from equities cash market declined 5.6%.

The company now expects its projected capital expenditure for fiscal 2024 to come between S$70 million and S$75 million, down from its previous forecast of S$75 million-S$80 million.

"To drive growth, we will focus on expanding our solutions to capture opportunities in Asia, grow our emerging products and further strengthen our global distribution and network," CEO Loh Boon Chye said.

It also proposed an interim quarterly dividend of 8.5 Singapore cents per share, higher than the 8 Singapore cents declared a year earlier. ($1 = 1.3400 Singapore dollars)

(Reporting by John Biju, Himanshi Akhand and Aaditya Govind Rao in Bengaluru; Editing by Krishna Chandra Eluri and Sherry Jacob-Phillips)