$SGX (S68.SG)$ Singapore[Share Link: Ministry of Finance]Sen...
SingaporeMinistry of FinanceSenior Minister of State for Finance, Xu Fangda, said the country is ready to undertake "bold reforms" to revive the sluggish stock market.
Xu Fangda currently leads a special task force to study ways to strengthen the stock market. He stated that the group's objectives are to eliminate outdated rules, encourage high-quality companies to join the market, and enhanceLiquidity refers to the ability of an asset to be converted into cash quickly.He mentioned that measures may include reducing listing costs and expanding the pool of stock derivatives, which will be implemented in stages before the 12-month evaluation period ends.
Xu Fangda currently leads a special task force to study ways to strengthen the stock market. He stated that the group's objectives are to eliminate outdated rules, encourage high-quality companies to join the market, and enhanceLiquidity refers to the ability of an asset to be converted into cash quickly.He mentioned that measures may include reducing listing costs and expanding the pool of stock derivatives, which will be implemented in stages before the 12-month evaluation period ends.
"Given the various global resistances faced by other exchanges and the increasingly fierce competition in this field, revitalizing our stock market is not an easy task," he said at an event in Singapore on Monday, "but we are prepared to make changes and try new ideas. Because if we don't try, the chance of success is zero."
There is a growing call from the industry to boost the local stock market, which has been plagued by lagging performance, shrinking market cap, and low trading volume. Members of the task force include representatives from the central bank, Temasek Holdings, the Singapore Exchange, and other industry stakeholders.The central bank, Temasek Holdings, the Singapore Exchange, and representatives of other industry stakeholders.
Xu Fangda said that one area being explored is the simplification of prospectus disclosure requirements for initial public offerings and secondary listings, and the Monetary Authority of Singapore will also consider lifting certain restrictions on all retail customers.Retailcustomers.
Xu Fangda said that one area being explored is the simplification of prospectus disclosure requirements for initial public offerings and secondary listings, and the Monetary Authority of Singapore will also consider lifting certain restrictions on all retail customers.Retailcustomers.
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