Market Chatter: Singapore Exchange to Launch Hong Kong SDRs

MT Newswires11-04

The Singapore Exchange has outlined plans to launch Singapore Depository Receipts of five Hong Kong-listed mega-cap companies, according to a report by The Business Times on Oct. 30.

Through this initiative, SGX aims to create more opportunities to diversify the portfolio of Alibaba (HKG:9988), Tencent (HKG:0700), BYD (HKG:1211, SHE:002594), HSBC (HKG:0005) and Bank of China (HKG:3988, SHA:601988), according to the report.

Through these SDRs, investors can make lower minimum investment in Singapore dollars, ranging from 2% to 20% of the underlying stocks, the report said.

The SDRs can be traded through local brokers, effectively saving costs on overseas trading, foreign exchange and management fees, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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