Markets
Tiger Trade Launches SGX Trading, Meeting Demand from Asian Investors
Access to the Singapore Exchange (SGX) adds to Tiger Brokers’ current menu of stock exchanges, such as the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ), the world’s two largest stock exchanges, as well as the Hong Kong Stock Exchange (HKEX).
SINGAPORE (ACN Newswire) – Tiger Trade, a one-stop mobile and online trading application by Tiger Brokers, has launched access to the Singapore Exchange (SGX).
This adds to Tiger Brokers’ current menu of stock exchanges, such as the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ), the world’s two largest stock exchanges, as well as the Hong Kong Stock Exchange (HKEX).
About 25% of the platform’s users are outside Singapore, mainly in Malaysia, Indonesia and India.
SGX strengthens Tiger Trade’s online and mobile share offering for its customers, who now have the ability to invest in financial instruments including A-Shares, Equities, Exchange-Traded Funds (ETFs), Futures and Stock Options.
Tiger Trade’s mobile app launched in February 2020 and has seen increasing traction among retail investors since. From March to April 2020, Tiger Brokers saw a doubling of accounts opened in one month, with a transaction volume increase of 345% in the same period, a testament to the strong interest and financial-savviness of Asian retail investors.
Tiger Brokers is integrating SGX trading on the back of surging investment interest even in the midst of a global economy affected by COVID-19. SGX has seen the total securities market turnover higher by 35% year-on-year in April this year, per its data.
Mr Wu Tianhua, CEO of Tiger Brokers, said: “Despite the economic uncertainty, Singapore’s financial markets remain competitive and well positioned for sustained growth. We saw recent market announcements from banks and US-based tech companies, as well as the recent AGM from Warren Buffet, showed increased interest and appetite for investing.
Tiger Brokers believes this is a good time to expand it’s services. Our goal is to offer our users the options to manage or diversify their portfolio while providing them with the latest news updates around trading behaviour globally on our platform.”
About 25% of Tiger Trade’s users are based around the region and outside of Singapore, who are taking advantage of the platform’s online account opening feature and ability to trade in US and HK equities through a mobile platform. Most of these users come from Malaysia, Indonesia and India.
The launch of SGX on the platform will also allow them access to one of the most vibrant exchanges in the world, alongside the current access to the NYSE, NASDAQ, and HKEX.
Mr Eng Thiam Choon, CEO of Tiger Brokers (Singapore), said, “Many retail investors are hearing about share prices and global markets on the news, which have helped increase their interest in trading. However, we generally advise our users and retail investors to do a lot more research on what they are about to purchase and on how companies fared a few months before the pandemic.”
Our app provides our users with up-to-date stock quotes, market data and news as well, information which keeps them abreast of the economic landscape in trading, aiding them in making informed decisions.
Mr Eng Thiam Choon, CEO of Tiger Brokers (Singapore)
The easy-to-use app also provides complimentary real-time stock quotes, 24/7 news updates, artificial intelligence-driven data screeners, and easy-to-analyse trading charts. Users can easily add in an account, linking to their preferred local banks for deposit and withdrawals and reducing the brokerage fees when trading on the US and Hong Kong markets. Tiger Brokers also plan to provide access to Contract for Differences (CFDs) by Q1 2021.
The Tiger Trade mobile application is available for download from the Apple App store and Google Play.
Apple App store: https://apps.apple.com/sg/app/id1023600494
Google Play: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock
About Tiger Brokers (Singapore) Pte Ltd
Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade, offers commission rates for as low as S$2.80 (US$1.99) per trade, complimentary real-time stock quotes, dedicated multilingual customer service during trading hours, and 24/7 finance news updates.
The company launched the mobile version of Tiger Trade in February 2020 – accessible from Apple App Store and Google Play. Both online and mobile app users have access to the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX).
Tiger Brokers Singapore is the Singapore entity of UP Fintech Holding Ltd, known as Tiger Brokers in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in U.S. equity trading by volume among platforms catering to Global Chinese investors in less than two years. The company was listed on NASDAQ under “TIGR” in 2019. With offices in China, United States, Australia, New Zealand and Singapore, Tiger Brokers had over 743,300 customers worldwide and a total trading volume of more than US$44.1 billion in Q1 2020. The company is backed by well-known investors such as Xiaomi. For more information, please visit https://www.tigerbrokers.com.sg
Business
China’s Travel Surge: Expanded Visa Exemptions Enhance Tourism and Business Prospects, Improving Access for Travelers and Strengthening Global Connectivity – Travel And Tour World
China has improved travel access by expanding visa exemptions, attracting millions of international visitors and fostering cultural exchanges, while enhancing global connectivity and positively shifting perceptions of the country.
The Shift in China’s Travel Landscape
China is experiencing a travel boom driven by a significant reduction in visa restrictions. Starting December 1, 2023, travelers from 38 countries, including major European nations, can visit visa-free for up to 30 days. This change reflects China’s commitment to enhance global mobility and revitalize its tourism industry post-pandemic. As a result, international arrivals increased to over 8.1 million by the third quarter of 2024, marking a 48.8% rise from the previous year.
Exploring Beyond Traditional Destinations
The new access has prompted travelers to seek immersive experiences, venturing beyond iconic sites like the Forbidden City. Tourists increasingly explore local cultures and markets, enhancing their understanding of daily life in China. Guides have adapted, offering tours that include cultural hotspots and local culinary experiences, thereby enriching the overall visitor journey and promoting authentic engagement.
Broader Implications for Global Connectivity
China’s visa-free initiatives foster greater international connectivity and cooperation in trade. As foreign travelers find it easier to engage with Chinese businesses, reciprocal visa easings may follow globally. The improved perceptions of safety and hospitality, highlighted through social media, contribute to a renewed interest in China’s diverse cultural landscape and its potential as a primary travel destination.
Business
Procter & Gamble’s Stock Upgraded to Buy on Stronger Performance in China – MarketWatch
Procter & Gamble’s stock received a “buy” upgrade due to improvements in its China business, indicating positive market sentiment and potential for growth.
Procter & Gamble’s Stock Upgrade
Procter & Gamble (P&G) has received an upgraded stock rating, now classified as a "buy" due to promising developments in its China operations. Analysts have observed a rebound in sales within the Chinese market, which has been a significant factor in the company’s overall performance. The resurgence in consumer demand is expected to bolster P&G’s growth trajectory.
Positive Market Sentiment
The positive sentiment surrounding P&G’s stock can be attributed to its strategic initiatives aimed at reinforcing market presence in Asia. The company’s commitment to enhancing its product offerings and aligning with local consumer preferences has proven effective. As P&G continues to adapt, investors are optimistic about its profitability and sustainability in the competitive landscape.
Future Prospects
Looking ahead, P&G’s focus on innovative marketing and product diversification is likely to sustain its growth momentum. The upgrade reflects confidence in the company’s ability to navigate market fluctuations and leverage emerging opportunities. Overall, P&G appears well-positioned for continued success in both domestic and international markets.
Source : Procter & Gamble’s stock upgraded to buy as its China business is perking up – MarketWatch
Business
News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
Asian markets showed mixed trends amid China’s stimulus measures and disappointing inflation data. Meanwhile, Indian equities remained stable, with mutual fund inflows rising. Bitcoin surged following Trump’s presidential win.
Business Hook Daily News Podcast
Good evening! Welcome to Business Hook’s daily news podcast. I’m Avni Raja, and today is November 11, 2024. Let’s dive into the day’s top business stories.
Market Reactions and Economic Data
Asian markets experienced a mixed session as investors digested new economic data and stimulus measures from China. The Chinese government announced a $1.4 trillion package targeting local government debt, although analysts deemed it underwhelming. October’s inflation rate of 0.3% fell short of estimates and declined for the second month in a row. As a result, the CSI 300 saw a slight gain, while Hong Kong’s Hang Seng dropped over 1.5%. In India, the Sensex closed below 74,500, and the Nifty ended above 24,100, with a majority of Nifty stocks declining.
Mutual Fund Inflows and Upcoming IPOs
There’s encouraging news in the mutual fund sector, with October seeing net inflows of 2.4 lakh crore rupees, reversing the previous month’s outflows. Record equity inflows have risen to nearly 42,000 crore rupees, reflecting robust domestic investor confidence. In the IPO space, LG Electronics prepares to raise $1.5 billion by listing its Indian arm, with banks like Axis Capital involved in the process, potentially leading to an IPO as early as 2025.
Cryptocurrency Surge
In cryptocurrency news, Bitcoin has achieved new highs, surpassing $82,000. This surge is attributed to Donald Trump’s recent presidential victory, which has favored cryptocurrencies compared to more cautious Democratic approaches. Experts speculate that Bitcoin could surpass $90,000 soon. That’s all for today’s wrap-up. Join us again tomorrow, and check out the Business Hook YouTube channel for more updates.
Source : News Wrap | China Stimulus Disappoints; Sensex & Nifty Slip; Bitcoin Soars Past $82,000
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