@sigmaairforce5: After the defeat in Operation Sindoor, the Indian Army Chief issued a threat to Pakistan regarding “Operation Sindoor 2.0. #india #pakistan #viral #pakistanarmy #news

Sigma Airforce 🇵🇰
Sigma Airforce 🇵🇰
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Sunday 31 May 2026 07:19:00 GMT
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In case you haven’t been paying attention, the Singapore’s stock market is enjoying a solid bull run. After having gone sideways for the better part of the last decade, the past two years have seen growth of more than half in the benchmark STI. For those of us who have been observing local markets for close to a generation, this is a much-welcomed reprieve. After all, we’ve seen different markets across Asia enjoy significant activity and gains over the same period. In contrast, our market had languished, overweight with financials and REITs and GLCs. Not to slam those sectors in any way, but the lack of diversity in our bourse just didn’t seem befitting for the home market of a global financial hub. What’s even more puzzling is that our early-stage capital markets—think angel and venture investing—are pretty healthy; some would even call it world-class (I think we still significantly lag those of New York or London, but those are high bars). In my view, the missing piece has been the interface between these two: to ensure that the startups and scale-ups are able to tap into a deep pool of private equity, and eventually make the call to list in the secondary board here. Indeed, those of us of a certain vintage will also recall when we did have a very active secondary board, albeit much of the trading there had been by punters and speculators, in penny stocks. Still, nobody will deny that it had liquidity. Here’s the rub: I believe that the recent boost we’ve enjoyed in the SGX is an opportunity that has been granted by geopolitical and policy-induced turmoil in the rest of the world, as funds flee to safe-haven plays. But such flows will only persist into the future if we don’t squander the window that has opened up, especially if we just content ourselves with enjoying what could well be a temporary shot in the arm. Rather, we should take bold steps that these new flows enable. Such steps include structural reforms, like roping in Temasek to become an anchor investor in the local market, and making the SGX part of the impending CPF Lifetime Retirement Investment Scheme. It includes expanding the scope of mandatory disclosure requirements for listed firms, and providing stronger tax incentives for SMEs to IPO on Catalist, and for family offices based here to allocate a part of their portfolio to the local stock market.  That’s why, while I didn’t object to the principle of easing the procedures associated with cross-listings between the SGX and Nasdaq, I am less convinced that it is a move that will materially improve local market liquidity. If anything, there’s quite a bit of evidence that suggests that the opposite may occur; after the cross-listing is launched, most trading volumes are concentrated in the larger market, leaving the smaller one little better off (https://doi.org/10.1111/j.1540-6261.2007.01272.x). The bottom line is simple: cross-listings, while potentially useful at the margin, aren’t a panacea. If we want to take stock market reform seriously, there are other levers that we’ll have to pull. #workingforsingapore
In case you haven’t been paying attention, the Singapore’s stock market is enjoying a solid bull run. After having gone sideways for the better part of the last decade, the past two years have seen growth of more than half in the benchmark STI. For those of us who have been observing local markets for close to a generation, this is a much-welcomed reprieve. After all, we’ve seen different markets across Asia enjoy significant activity and gains over the same period. In contrast, our market had languished, overweight with financials and REITs and GLCs. Not to slam those sectors in any way, but the lack of diversity in our bourse just didn’t seem befitting for the home market of a global financial hub. What’s even more puzzling is that our early-stage capital markets—think angel and venture investing—are pretty healthy; some would even call it world-class (I think we still significantly lag those of New York or London, but those are high bars). In my view, the missing piece has been the interface between these two: to ensure that the startups and scale-ups are able to tap into a deep pool of private equity, and eventually make the call to list in the secondary board here. Indeed, those of us of a certain vintage will also recall when we did have a very active secondary board, albeit much of the trading there had been by punters and speculators, in penny stocks. Still, nobody will deny that it had liquidity. Here’s the rub: I believe that the recent boost we’ve enjoyed in the SGX is an opportunity that has been granted by geopolitical and policy-induced turmoil in the rest of the world, as funds flee to safe-haven plays. But such flows will only persist into the future if we don’t squander the window that has opened up, especially if we just content ourselves with enjoying what could well be a temporary shot in the arm. Rather, we should take bold steps that these new flows enable. Such steps include structural reforms, like roping in Temasek to become an anchor investor in the local market, and making the SGX part of the impending CPF Lifetime Retirement Investment Scheme. It includes expanding the scope of mandatory disclosure requirements for listed firms, and providing stronger tax incentives for SMEs to IPO on Catalist, and for family offices based here to allocate a part of their portfolio to the local stock market. That’s why, while I didn’t object to the principle of easing the procedures associated with cross-listings between the SGX and Nasdaq, I am less convinced that it is a move that will materially improve local market liquidity. If anything, there’s quite a bit of evidence that suggests that the opposite may occur; after the cross-listing is launched, most trading volumes are concentrated in the larger market, leaving the smaller one little better off (https://doi.org/10.1111/j.1540-6261.2007.01272.x). The bottom line is simple: cross-listings, while potentially useful at the margin, aren’t a panacea. If we want to take stock market reform seriously, there are other levers that we’ll have to pull. #workingforsingapore

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