It appears increasingly likely that a mega IPO like Ant may lead to the Straits Times Index remaining stuck within a narrow range. In the week of Oct 12–16, the STI moved sideways, gaining a mere point week-on-week to end at 2,533.
The impending IPO of Ant Financial may shift investor interest into Hong Kong, with Singapore Exchange being increasingly sidelined. Our own IPO scene may hot up with around five or so IPOs planning to list before the end of the year.
See also: Jack Ma's Ant Financial joins race for Singapore digital banking licence
