Clarify position on review of trading link, Singapore tells Malaysia

singapore stock exchange. (Reuters pic)

PETALING JAYA: The Monetary Authority of Singapore has asked the Securities Commission Malaysia to “clarify its position” on the proposal for a trading link between Bursa Malaysia and the Singapore Exchange.

This follows Prime Minister Dr Mahathir Mohamad’s announcement today that the government would review the proposal.

Reuters reported that the plans for the link were announced by then prime minister Najib Razak in February.

Both countries had aimed to set up the link by the end of this year.

The link would have allowed investors in both countries to trade and settle shares listed on each other’s exchanges, giving them easier and seamless access to each other’s markets with a combined market capitalisation of more than US$1.2 trillion and 1,600 public listed companies.

Malaysian shares rose 1.3% Wednesday to their highest close in nearly two weeks, led by gains in bank stocks such as Public Bank and CIMB Group Holdings.