Singapore Unveils Measures to Boost Equities Market
Singapore has announced a series of initiatives to revitalize its stock market, including a 20% tax rebate for primary listings and a S$5 billion ($3.74 billion) program dedicated to investing in domestic equities.
The measures aim to bolster the Singapore Exchange, which has faced challenges due to a lack of major listings and reduced trading liquidity. The announcement expands upon an initial set of measures proposed in February 2023 by Singapore's equities market review group.
"We want these measures to create a solid foundation for a vibrant and sustainable equities market in Singapore," said Chee Hong Tat, Singapore's second finance minister. "Together, these proposed measures are expected to make a positive impact."
The Monetary Authority of Singapore (MAS), Singapore's central bank, established the review group in August 2022 to recommend measures for enhancing the country's equities market development.