Hong Kong Beating SGX in Bourse Battle: Chart of the Day
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A rally in Hong Kong Exchanges & Clearing Ltd. is pushing valuations to the highest relative to its Singapore rival since April 2008 amid optimism for an equity link with Shanghai and as London Metal Exchange boosts earnings.
The CHART OF THE DAY tracks performances of the Hong Kong and Singapore bourses and their benchmark equity indexes on a normalized basis this year. HKEx has surged 19 percent, with most the gains coming since Chinese Premier Li Keqiang on April 10 announced the cross-border trading plan, while the Hang Seng Index added 0.7 percent. Singapore Exchange Ltd. is down 4.4 percent amid proposed restrictions on small-cap shares, while the Straits Times Index gained 3.9 percent.