(Sept 17); Singapore saw its lead over Hong Kong shrink to just a whisker in the battle to be Asia’s biggest foreign-exchange currency hub. To keep its advantage, the island state wants to attract more companies to set up electronic trading platforms.

Average daily trading in Singapore jumped 22% to a record US$633 billion ($872 billion) in April from the same period in 2016, according to the latest survey by the Bank for International Settlements. That’s just ahead of Hong Kong’s US$632 billion, as the Chinese city saw a 45% surge in daily transactions.

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