Further consolidation seen for S'pore market in near term

THE Singapore equity market could continue to consolidate for another few months to a year amid a global slowdown and regulatory changes, executives of Taiwanese merchant bank China Development Financial Holding Corp (CDFH) said on Monday.

But the country's strong fundamentals will pay off when the recovery arrives, they added.

CDFH securities arm KGI Group is buying Singapore-based AmFraser Securities for S$38 million at a time when equity trading volumes are suffering. But CDFH chief executive Paul Yang was not overly concerned.