Singapore Exchange (SGX)

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Wah buddy...

moving on is very cheap... almost next to free... peanuts...

How to move on when your life line, ricebowl is affected...

How to move on when you have lack of quality investment ideas in a "crab" market... what if we really can't anymore gems at Lorong Halus?

concerned
GG

(12-11-2014, 11:36 AM)cfa Wrote: Just another isolated issue , let's move on .
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Is there a possibility that SGX closes shop? Does it means Singapore closes also?
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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(12-11-2014, 11:41 AM)greengiraffe Wrote: Wah buddy...

moving on is very cheap... almost next to free... peanuts...

How to move on when your life line, ricebowl is affected...

How to move on when you have lack of quality investment ideas in a "crab" market... what if we really can't anymore gems at Lorong Halus?

concerned
GG

(12-11-2014, 11:36 AM)cfa Wrote: Just another isolated issue , let's move on .

Who is the largest shareholder of SGX ? The answer tells all.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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Let Us Move On video
https://www.youtube.com/watch?v=NnrswAX5qFo

Agree with greengiraffee, How to move on when your life line, rice bowl is affected?
Reply
http://www.businesstimes.com.sg/stocks/s...ore-divide

Shanghai-HK link leaves a Singapore divide
Some analysts say trading tie-up will put pressure on SGX but most of them think impact may not be pronounced

By
Kenneth Limkenlim@sph.com.sg@KennethLimBT
Cai Haoxianghaoxiang@sph.com.sg@HaoxiangCaiBT
shansghaistkxcge1311.jpg Market players here will be closely watching the new trading link between Hong Kong and Shanghai when it goes online next week. PHOTO: AFP
13 Nov5:50 AM
Singapore

MARKET players here will be closely watching the new trading link between Hong Kong and Shanghai when it goes online next week, with no consensus on how the tie-up between the two Greater China exchanges will affect their South-east Asian rival.

Pessimists say the new link could draw liquidity and potential listings away from Singapore. Half glass-full observers say Singapore's value as a regional financial hub with niche strengths and a popular China-linked futures contract will remain resilient.

If there is one agreement in the industry, it is that Shanghai-Hong Kong Stock Connect, as the link is called, will give a boost to the two markets that it marries.

The tie-up will allow investors on both ends to trade directly in certain shares of the other exchange, although the improved access will mostly benefit the 568 Shanghai-listed stocks that were previously stuck behind capital controls but are now approved for trading via the link.

Investors who wanted to trade Shanghai A shares previously had to either get their hands on quotas directly or receive sub-allocations from their brokers. But with demand outstripping the quotas, many funds, not to mention retail investors, could not access the A shares market.

APS Asset Management chief investment officer Wong Kok Hoi said: "When the Shanghai-Hong Kong Stock Connect goes live next week, foreign investors without their own quota can access China A shares as well, so I can confidently predict that fund flows into China A shares will increase significantly in the years to come."

Lumiere Capital co-founder Wong Yu Liang said his firm, which invests in the region, did not use the quota system because it was too expensive, and was using Hong Kong as a proxy. "It's going to be a positive thing for both markets," he said.

David Logerais, head of Asian trading at Amundi Asset Management, said his firm and its clients will use the new link when it is up, given the flexibility from licence quotas.

He noted that the link will make the market more efficient, reducing the traditional discount that Shanghai-listed shares used to have compared to Hong Kong-listed scrip. Indices may also drive demand.

"By opening up its domestic market to foreign investors, China calls for a revision of the weight of Chinese listed companies in major equity indexes," he said.

A number of analysts said the link would put pressure on the Singapore Exchange (SGX), although most of them thought that the impact may not be that pronounced.

CIMB head of research Kenneth Ng said the through train will improve valuations on the two exchanges, making them more attractive to Chinese stock offerings. "It will put pressure on any market like Singapore," he added. "Having said that, SGX's value proposition has been for companies that are not just trying to be in China, but more regional businesses. They will continue to have a space in a certain niche segment."

One investment banker who declined to be named said Singapore also had "cluster expertise" in sectors such as offshore and marine, shipping, healthcare, water and trusts that will continue to attract industry players, especially those looking for international exposure.

Beyond listings, there is also concern that investors may shift their focus to Hong Kong and Shanghai as those markets become more exciting.But SGX has its competitive exposure hedged with its China A50 index futures, which have been receiving strong interest. One analyst, however, noted that a wave of new A50 trackers have emerged, potentially adding competition to the SGX contracts.

The new trading link is not without its bumps. APS's Mr Wong said capital gains tax policy remains unresolved. How the daily quota of US$2.1 billion is allocated on a first-come, first-served basis will also challenge the infrastructure.

SGX executive vice-president Chew Sutat reckoned that a successful Hong Kong Exchange will benefit SGX as well and that the scenario is not a "zero-sum game". "We believe that as the Hong Kong and Shanghai markets grow, our customers will want to manage more of their exposures to China, and we are ready to help them do so with our derivative products," he said.

OCBC remisier Vincent Khoo said: "It gives investors more avenues for investments in China via Hong Kong, and remisiers can highlight these possibilities to their clients instead of griping about slow business in the Singapore market."
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http://www.businesstimes.com.sg/stocks/s...-many-will

SHANGHAI-HONG KONG LINK
Singapore investors get to trade China A-shares, but how many will?
Retail investors here tend not to trade foreign shares apart from Malaysian stocks

By
Cai Haoxianghaoxiang@sph.com.sg@HaoxiangCaiBT
Kenneth Limkenlim@sph.com.sg@KennethLimBT
dbsvickersec1311.jpg The brokerages gearing up are DBS Vickers, Phillip Securities, Maybank Kim Eng Securities and CIMB Securities, although it is not clear what the level of investor interest will be. PHOTO: SPH
13 Nov5:50 AM
Singapore

RETAIL investors in Singapore can start trading in China's A-share market next Monday through the Shanghai-Hong Kong Stock Connect programme, some brokerages here told The Business Times.

The brokerages gearing up are DBS Vickers, Phillip Securities, Maybank Kim Eng
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(12-11-2014, 04:10 PM)Harvest Time Wrote: Let Us Move On video
https://www.youtube.com/watch?v=NnrswAX5qFo

Agree with greengiraffee, How to move on when your life line, rice bowl is affected?

Volume lower and margin squeezed... regardless of what the others are saying I think the implication for brokers should be quite obvious from a fundamental analysis point of view.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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LETTER TO THE EDITOR (BT)

MAS, SGX and market players pow-wow needed

18 Nov 5:50 AM

I'VE been a trading representative for the past 20 years and the silence in the dealing
rooms of late is deafening. It is now quieter than the library! When was the last time
the Singapore Exchange management visited our dealing rooms? The epitome of
capitalism is the stock market. This prolonged quietness in the market does not reflect
well on our status as a premier financial centre in the region. To be fair, SGX has
embarked on several moves to rebuild vibrancy in our markets such as the takeover of
the Australian exchange, extended settlement contracts, American Depository
Receipts, exchange traded funds, removal of lunch breaks, and reduction of bid spreads.

However, many of these measures have failed without much accountability. I'm afraid
that some new measures that the SGX is planning to implement - such as the
introduction of smaller board lot sizes and collaterised trading - might similarly fail.
The proposed measures might in fact make trading more cumbersome and further
diminish the liquidity in our markets.

SGX recently had a series of roadshows to engage retail brokers. It mentioned in the
presentations that it had introduced a market maker and liquidity provider
programme to help boost liquidity. Many brokers present strongly opposed this
programme for fear that it would lead to exaggerated prices. The sheer size of the
market makers would leave retail investors at a huge disadvantage. SGX has
introduced buy-in penalties for accidental short-sales, with possible waivers on appeal.
Why introduce such archaic measures when short-sales are not prevalent but create
fear among market participants for honest mistakes. Also, in the event of mistakes,
market participants are now subject to the buy-in process (with high charges levied)
when in the earlier years, the mistakes can be rectified on the next trading day.

Between January and October 2014, SGX had a total of 30 equity listings. Some of
them have posted spectacular returns since listing. However, further digging would
reveal that many of them had only placement shares and no shares (or a negligible
number of shares) were offered to the public. It makes one wonder whether the price
appreciation is due to fundamental reasons or not. It is supposed to be an initial
PUBLIC offer (IPO), not an initial PRIVATE offer!

I can go on and on as to why our market is in such a dire state. The Monetary Authority
of Singapore, SGX and the various market participants need to come together to
discuss how to rebuild confidence in the market.

S Nallakaruppan
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I thought lower volume compared to post-2008 crisis is a norm across many exchanges. Is not SGX specific so not sure they deserve a bashing when they are trying to help. Some people also indicate pre-crisis volume is not a norm. Nevertheless is a trader issue mainly.
Neither we should have high volume to generate commission for the sake of it.

http://www.marketwatch.com/story/why-tra...2014-07-07
http://finance.yahoo.com/blogs/the-excha...42024.html

Just my Diary
corylogics.blogspot.com/


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I agree the income impact on brokers, by lower volume and new policies. I reckon the same applies to property agents with current property curbs, and may be insurance agents, due to recent amendment on insurance policies from MAS

I recalled a recent news on a SMCCA group, which has opposed on too much regulation, while retail investors are screaming for more regulation on listed companies. I reckon a balanced resolution is required.

I knew one acquaintance of mine, was an insurance agent a decade ago. A young twenties who is driving a BMW, owned a condo, married with no kid. I met him few years ago, he has given up insurance, and became an property agent. I don't know he is still an agent now. Life is tough for him I guess.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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