Can Singapore ever build a proper stock market?
SINGAPORE’S FINANCIAL chops are formidable. It trails only Hong Kong and Switzerland as a bolthole for plutocrats’ cross-border assets. It is the third-largest venue for foreign-exchange trades, behind America and Britain, a big one for physical commodities such as oil, a centre of trade and marine finance, and a hub for specialty insurance. What it lacks is a big bourse.
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