SGX set to harvest seeds sown in new businesses, IPO pipeline as markets recover
THE Singapore Exchange (SGX) may have fallen far since the turn of the decade, but the various seeds it has planted in the last few years should put it in good stead as it enters a positive but highly uncertain arc in the business cycle.
Perhaps the single biggest lament from Singapore stock market traders is that liquidity just has not been what it used to be. There is some basis for that sentiment. The year-to-date average daily traded value on the stock market stood at about S$1.19 billion as at end-September. While that was almost a 10 per cent increase from the daily average in the whole of 2016, it represented just three-quarters of the S$1.6 billion daily average in 2010. In fact, daily average turnover has not exceeded S$1.2 billion in any year since 2013.
But there are promising signs suggesting that the multi-year decline could be coming to an end.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
New York Times beats profit estimates on bundle strength
US dollar gains ground; subdued yen prompts Japan warning
Prime US Reit distributable income for Q1 2024 down 19.5% to US$11.9 million
DBS hires chief of Ping An’s tech group to fix outage issues
Uber forecasts gross bookings for second quarter below expectations