.SGX RegCo to drop minimum trading price rule on June 1
Non-recurrent income or income from activities outside the ordinary course of business will no longer count towards the profitability requirement to get off the financial watch list, Singapore Exchange Regulation has announced.
This is even though SGX RegCo said last month that it would not put firms on the financial watch list this year, as the Covid-19 pandemic roiled business and economic conditions. Compared with other weapons in its arsenal, such as"trade with caution" alerts, SGX RegCo said that the minimum trading price framework"has turned out to be a blunt tool in addressing risk of manipulation" in the Singapore stock market.
That was even though the share prices of most of these counters were not found to have been manipulated, as SGX RegCo acknowledged.
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