E*Trade closing Singapore and HK operations

Singapore

US ONLINE broker E*Trade is closing its operations in Singapore and Hong Kong in a shock move that will also see it surrender its stockbroking licence in Hong Kong.

Customers here were alerted to this when they logged on to the relevant websites and received a pop-up notice headlined "Important Notice for Singapore Customers: E*Trade is Discontinuing Brokerage Services in Singapore". The notice stated that the decision was made "after careful review" to discontinue brokerage operations for residents of Singapore.