Analysts welcome SGX-Nasdaq dual-listing bridge, other new moves

They say initiatives will help sustain positive momentum in equities market

- Benjamin Lim Correspondent

Positive results from February’s reforms have lifted confidence in Singapore’s equities market, and analysts believe new initiatives, such as a Singapore Exchange (SGX)-Nasdaq dual-listing tie-up and deployment of fresh funds into the market, will help sustain the momentum into 2026.

The measures were revealed at a Nov 19 press conference, where a review group set up by the Monetary Authority of Singapore (MAS) in 2024 to revive interest in the Singapore stock market also announced the completion of its work throughout 2025.

Analysts largely welcomed the new moves, saying they would hugely improve firms’ access to capital and widen their investor base.

The SGX-Nasdaq partnership - a first of its kind for both bourses — opens up more opportunities to companies with listing ambitions, allowing them to go on two stock exchanges concurrently with a single set of offer documents. This significantly reduces regulatory friction and makes the listing process easier.

Ms Jenny Sofian, chief executive of Fullerton Fund Management, said the new dual-listing option strengthens Singapore's position as a gateway for Asian and US companies with global ambitions.

Access to diversified pools of capital and participation in high-growth, innovation-driven companies will help foster a dynamic, globally competitive environment in which asset managers can grow and thrive, said Ms Carmen Wee, CEO of the Investment Management Association of Singapore.

Ms Jenny Lee, senior managing partner at venture capital firm Granite Asia, said the option to concurrently list on both bourses also broadens investor reach without requiring firms to shift their centre of gravity away from Asia.

Maybank’s head of research Thilan Wickramasinghe said the partnership comes at a time when Southeast Asia is seeing unicorns — startups valued at over US$1 billion (S$1.3 billion) - emerge at an exponential rate, from just five in 2016 to over 60 in 2025.