However, Chee, whose main portfolio is to head up the Ministry of National Development, likens the bid for Singapore to be a more competitive market to a “never-ending marathon”.
The various measures to revive the Singapore stock market has seen some success, according to Minister Chee Hong Tat. Average daily traded value has increased 20% y-o-y to $1.8 billion in November, and the Straits Times Index has been hitting new highs, closing at 4,944.09 points on Feb 3 – a whisker shy of the 5,000-point mark.
Instead of just a handful of blue-chip STI component stocks hogging the volume, the number of Singapore-listed stocks with at least $1 million in average daily trading turnover has risen to 100, as indicated by SGX earlier.
