Good that S'pore Exchange has accepted its lot in life

IT IS sometimes said that the secret to happiness lies in lowering expectations to match reality. If that is the case, the Singapore Exchange (SGX), in apparently de-emphasising the importance of China, could be well on its way to striking a happy balance between cementing its niche as a Reits hub and fighting a difficult and largely unwinnable battle with the likes of Hong Kong and Shanghai for large China listings.

Although some in the market might question the lowering of ambitions vis-a-vis China, it could well turn out to be a good thing for both the exchange and the Singapore market.

At a briefing a week ago, SGX's head of equities and fixed income Chew Sutat spoke mainly about playing to Singapore's sector strengths in real estate investment trusts (Reits) and business trusts; consumer; and healthcare, adding that tech and digital are …