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Finance companies' shares soar on new relaxed rules

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Hong Leong Finance, the grand-daddy of the three finance companies with a market capitalisation of S$1.1 billion, rose 18 per cent to end S$2.70 on Wednesday from Monday's close of S$2.28.

Singapore

SINGAPORE'S three finance companies are sleepy no more. The prices of all three rocketed as much as 32 per cent the past two days from Monday after the Monetary Authority of Singapore said it was relaxing rules on finance companies to spur them to innovate and extend more loans

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