Singapore’s equity market gets a boost, new economy small and mid-cap stocks to benefit: Maybank Kim Eng

Maybank Kim Eng analyst Thilan Wickramasinghe believes that new measures to support the domestic economy market could potentially catalyse a “longer-term reshaping” of the Singapore Exchange’s (SGX) listing mix. 

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See: Singapore unveils over $1 billion in new measures to boost equity financing for high-growth enterprises

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In a Sept 16 research note, Wickramasinghe says the move could see a shift away from “old world” stocks such as financials, real estate and industrials which currently make up some 77% of the Straits Times Index market capitalisation. “This has resulted in a significant gap in relevance between SGX’s listed equity offerings and other major global financial centers where new economy counters are increasing,” he says.