Singapore
UNLIKE Hong Kong Exchanges and Clearing (HKEx), Singapore Exchange (SGX) does not have China as its hinterland, but has managed to punch above its weight in niche sectors, thanks to its diversified fund-raising options, says Chew Sutat, SGX's head of equities and fixed income.
Clearly agitated by criticism that SGX is not attracting initial public offers (IPOs) of the size that HKEx pulls in, he said comparing the two puts one at risk of comparing apples and oranges.
"We are not part of China," he stressed.
Hong Kong, he said, has been the largest IPO market globally for two of the last three years - bigger even than the US and London.
"Why is that? They happen to have a hinterland and are...