Finance

MAS sets up review group in bid to revive its SGX development

Published

9 months ago

August 2, 2024

Signage for the Monetary Authority of Singapore (MAS) is displayed outside the central bank’s headquarters in Singapore.

Sam Kang Li | Bloomberg | Getty Images

Singapore’s central bank has established a task force to bolster the city-state’s stock market.

The Monetary Authority of Singapore announced that the review group will evaluate measures to “improve the vibrancy” of the Singapore equities market.

MAS said on Friday the panel will focus on addressing market challenges, fostering listings, and facilitating market revitalization, as well as enhancing regulations to facilitate market growth and foster investor confidence.

It said another key goal will be to identify methods for encouraging private sector participation, including from capital market intermediaries, investors and listed companies.

The authority noted that a “dynamic equities market is an important part of the capital formation value chain,” and that a liquid market enables companies to not only access capital as they expand, but also “allows asset owners and the investing public to participate in the growth of quality companies.”

“Improving the attractiveness of Singapore’s equities market can therefore enhance Singapore’s standing as a vibrant enterprise and financial hub,” the MAS said, adding that this will also “[complement] Singapore’s innovation and start-up ecosystem, private markets, as well as asset and wealth management sectors.”

Despite the Straits Times Index rising in three of the last four years including 2024, Singapore’s stock market has been long plagued by thin trading volumes and more delistings than listings. This has led observers to describe the exchange as “boring,” “unexciting” and even once in 2021, a “zombie” bourse.

Turnover velocity at the SGX, a measure of market liquidity, stood at 36% for the whole of 2023, compared to 57.35% at the Hong Kong Exchange in the same period, and 103.6% at the Japan Exchange.

Analysts who previously spoke to CNBC outlined ways to revive interest in the SGX, including taking lessons from “value up programs” in Japan and South Korea.

The review group announced Friday will be chaired by Chee Hong Tat, Singapore’s second minister of finance, and also include members like Koh Boon Hwee, the current chairman of the SGX.

Finance

Trump tariffs 100 days market promise and problems: Fast Money list

Published

3 hours ago

April 29, 2025

Business Finance News

To get more personalized investment strategies, join us for our next “Fast Money” Live event on Thursday, June 5, at the Nasdaq in Times Square.

Over President Donald Trump’s first 100 days, the S&P 500 lost more than 7% while the tech-heavy Nasdaq Composite dropped 11%.

On a sector basis, consumer staples is the biggest gainer in that time period, up 5%. Consumer discretionary lost the most value, off 13%.

We asked the “Fast Money” traders to share which market areas should see the most promise — and problems — over the next 100 days.

No. 1: Karen Finerman

Most promise: Big cap pharma. She’s bullish because the group is “way oversold,” and it’s largely out of the tariff crossfire.

Most problems: Container space. It’s likely seeing benefits right now from a big pull forward in demand. If the tariff fight takes a while to get resolved, expect to see fewer containers and a reduction in full containers overall, making for a “very sad income statement.”

No. 2: Tim Seymour

Most promise: Semiconductors and international investing. In the case of semis, they’re the “ultimate cyclicals” and should be a buying opportunity built off of beaten-down valuations. He predicts supply and demand dynamics will “rage again” in the year’s second half.

Seymour is also bullish on international investing. His name for it: MIGA, an acronym for “Make International Great Again.”

He highlights Germany’s DAX index outperforming the S&P 500 since late November. According to Seymour, it’s a trade that should still work over at least the next 100 days because tariffs are both a wake-up call and tailwind.

He lists relative valuation attractiveness and “Magnificent Seven” exhaustion among other key upside drivers.

The Mag 7 index, which is comprised of Apple, Nvidia, Meta Platforms, Amazon, Alphabet, Microsoft and Tesla, is down almost 16% over President Trump’s first 100 days.

Most problems: Companies exposed to consumer credit and discretionary spending. Seymour expects U.S. consumers to tighten their belts due to high prices and a deteriorating jobs market.

No. 3: Dan Nathan

Most promise: “Cash will be king.”

Nathan sees little working. He notes defensive groups including utilities, consumer staples and U.S. Treasurys, which historically benefit during economic distress, will eventually slump. According to Nathan, the headwinds produced by a tariff-induced recession will punish them.

Most problems: Planes, trains and automobiles. His base case scenario is a “protracted trade war” with China and possibly other key nations that will choke demand. Nathan advises consumers to “fasten their seatbelts for unexpected turbulence and bumps in the road.

No. 4: Guy Adami

Most promise: Retail. Most problems: Retail.

He thinks retail is in an odd spot. According to Adami, there’s “no way to game this out, but they seemingly have the most at stake.”

He told “Fast Money” on Tuesday that the unemployment rate will likely surprise to the upside.

“When you have an economy that’s predicated on people having jobs and feeling good about things… that becomes problematic,” Adami told viewers. “I think the market is still a little expensive here.”

Disclosure: Tim Seymour runs the Amplify CWP International Enhanced Dividend Income ETF.