3 Things You Need to Know About the Singapore Stock Market Today

Hello, everyone. Here are three things about the local stock market and investing in general that you might be interested in today.

1. The Straits Times Index (SGX: ^STI) ended Tuesday at 3,543.2, inching down 0.1% or 5.1 points.

Venture Corporation Ltd (SGX: V03) lost the most ground in the 30-stock index as its shares tumbled 2.7% to S$21.17.

On the other hand, the biggest winner of the lot was Jardine Matheson Holdings Limited (SGX: J36); the conglomerate’s shares increased 3.1% to US$64.87.

2. The National Stock Exchange of India (NSE) has made an application in the Bombay High Court for an interim injunction on Singapore Exchange Limited’s (SGX: S68) new India equity derivative products. This was announced slightly after the stock market opened today.

The local bourse operator had earlier made public its plans to list the new derivative products in June 2018.

Singapore Exchange (SGX) said that it has full confidence in its legal position and “will vigorously defend this action”.

Michael Syn, the exchange’s head of derivatives, commented:

“SGX has a responsibility to provide risk management tools for our global clients and ensure there is no disruption to the marketplace. Our new India equity derivative products are essential to enable institutional investors to maintain their current portfolio risk exposure to the Indian capital markets. We have, from the onset, expressed to NSE that there is a need to maintain liquidity in the international India equity derivatives market, in order to connect international participants to GIFT IFSC. We remain open to working with NSE and other relevant stakeholders to develop a solution that meets the risk management needs of global market participants.”

For the day, SGX shares fell 2.1% to S$7.48.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares in Singapore Exchange Limited.