The S chip and recently penny stocks saga really leave a bitter taste... to many people...
MAS is still investigating and it will be good to see why SGX suspend and designated the three stocks...
What we know is definitely not due to their escalating stock/share price... because SGX does not suspend nor designate other penny stocks which has escalated stock price. Also, SGX does not interfere with market movements aka even a stocks raise many time above their values.
MAS report .... coming out... when?
A Life not Reflected is a Life not Worth Living.
SGX: To Collaborate With China Futures Association
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
Both parties signed a memorandum of understanding (MOU) on 2 December 2013 in Shenzhen, China. This MOU will jointly explore areas of cooperation which include information sharing, training and regular meetings on developments in each other’s markets.
Ref:
http://infopub.sgx.com/FileOpen/20131127...eID=266352
Penny stock trading is a significant contributor to SGX profitability...
SGX trading dives on penny-stock curbs
SINGAPORE — The value of equities traded on the Singapore Exchange sank to a two-year low last month, threatening to slow the bourse’s earnings growth, as brokerages restricted investments in so-called penny stocks after price volatility in three companies wiped out billions of dollars in combined market value.
The average value of shares transacted daily on South-east Asia’s biggest exchange fell to S$914 million in November from S$1.3 billion a year earlier, according to Bloomberg data. That is the lowest since December 2011.
Trading sank 36 per cent in the past two months after a slump in Asiasons Capital, Blumont Group and LionGold erased S$8.6 billion in market value over three days in early October, the data shows.
Singapore’s brokerages are making it harder for clients to invest in dozens of stocks even after SGX removed restrictions on trading Blumont, LionGold and Asiasons shares.
The nation’s securities regulator is investigating the plunge and all three companies have said they do not know what precipitated the decline.
...
http://www.todayonline.com/business/sgx-...tock-curbs
HKEx and SGX suppose are competitors as RMB offshore centers, but are partners now. May be Shanghai FTZ is the common threat to both them...
HKEx and SGX cooperate on RMB internationalisation and connectivity
Hong Kong Exchanges and Clearing Limited (HKEx) and Singapore Exchange (SGX) today agreed to cooperate in several areas of common interest, which include promoting the internationalisation of the Renminbi by exploring joint product development; enhancing connectivity through points of presence in each other’s data centres; collaborating on technology development and regulatory issues; and may work closely in relation to extraterritorial market infrastructure regulation impacting the Asian region.
Ref:
http://infopub.sgx.com/FileOpen/20131204...eID=266686
But HK still part of China, Singapore still an outsider.
(04-12-2013, 05:46 PM)cfa Wrote: [ -> ]But HK still part of China, Singapore still an outsider.
There is more parts of China are competing. I reckon Shanghai is more threatening than Singapore to Hong Kong.
(04-12-2013, 07:39 PM)CityFarmer Wrote: [ -> ] (04-12-2013, 05:46 PM)cfa Wrote: [ -> ]But HK still part of China, Singapore still an outsider.
There is more parts of China are competing. I reckon Shanghai is more threatening than Singapore to Hong Kong.
Not just to HK but also to Singapore and others.
(04-12-2013, 08:02 PM)cfa Wrote: [ -> ] (04-12-2013, 07:39 PM)CityFarmer Wrote: [ -> ] (04-12-2013, 05:46 PM)cfa Wrote: [ -> ]But HK still part of China, Singapore still an outsider.
There is more parts of China are competing. I reckon Shanghai is more threatening than Singapore to Hong Kong.
Not just to HK but also to Singapore and others.
IMO, Shanghai as RMB offshore center is complementing Singapore and London, but not so for Hong Kong.
The comparative advantage is Singapore is offshore when RMB is internationalise.
There are certain legal and tax reasons to have funds offshore.
Just sharing something I've saw at Tampines Library's studying corner where all the business books are kept as well.
SGX set up a sleek-looking unmanned fixture aka booth to promote and educate more about investing. Looks like a permanent fixture. There was a wide-screen computer showing SGX education website, and some brochures beside it. Looks like they're trying to increase the retail investor participation rate. I realised, it is not so effective. There were 0 people who went inside to explore it after staying there for 30 minutes. Or maybe, I should hang out longer.
"Huge potential beckons. SGX’s internal studies show that despite Singapore’s reputation as a financial hub, its retail market is underpenetrated compared to its regional peers. The Republic has only 350,000 active Central Depository (CDP) accounts out of a resident population of 3.79m. This penetration rate of about 9% pales in comparison to Hong Kong’s 35% and Australia’s 43%"
http://sbr.com.sg/retail/news/singapore-...trated-sgx - dated 09 April 2012.