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
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
Business
AstraZeneca Stock Declines Amid Reports of Possible Probe Fallout in China – Reuters
AstraZeneca shares declined following reports of potential repercussions from a probe in China, highlighting concerns over regulatory scrutiny and its impact on the company’s operations and financial performance.
AstraZeneca Under Scrutiny
AstraZeneca faces potential fallout from a reported investigation in China, leading to a noticeable decline in its share price. Investors reacted sharply to the news, reflecting concerns over possible regulatory pressures that could impact the pharmaceutical company’s operations in the region. The drop in shares has prompted analysts to scrutinize the implications of this development for the company’s future prospects.
Market Reactions
The market’s immediate response indicates significant unease among shareholders as they weigh the risks associated with the potential probe. Financial analysts suggest that if the investigation leads to strict regulations or penalties, AstraZeneca could face challenges in maintaining its market position. This uncertainty highlights the fragile nature of investor confidence in the pharmaceutical sector, particularly in international markets like China.
Future Implications
As AstraZeneca navigates this turbulent situation, it remains to be seen how the investigation will unfold and what direct impact it will have on the company’s strategic direction. Keeping a close eye on the developments will be crucial for stakeholders. The pharmaceutical giant’s ability to respond effectively to these challenges will determine its future stability in the competitive global market.
Source : AstraZeneca shares fall on report of potential China probe fallout – Reuters
Business
Apple’s Growth Revived by Surge in iPhone 16 Sales in China – Thailand Business News
Dan Ives of Wedbush Securities highlights strong demand for Apple’s iPhone 16, predicting it will drive significant growth and consumer interest, reinforcing Apple’s competitive position in the tech market.
Strong Initial Sales for iPhone 16 in China
Dan Ives, a senior equity analyst at Wedbush Securities, reports that Apple has seen a 20% rise in iPhone 16 sales during the initial launch phase in China. This surge demonstrates strong consumer demand and suggests a promising performance in one of Apple’s key markets, despite existing economic challenges. The iPhone 16’s launch is a positive indicator for Apple’s growth prospects in the region.
The iPhone 16: A Catalyst for Growth
Ives believes the iPhone 16 is poised to ignite Apple’s growth renaissance. Its innovative features and advanced technology are expected to attract both loyal customers and newcomers alike. With enhancements like augmented reality capabilities and improved camera systems, the iPhone 16 positions itself as a pivotal element in securing Apple’s competitive edge in the tech industry.
A Bright Future for Apple
Ives asserts that the iPhone 16 represents just the beginning of Apple’s growth trajectory. As the company expands its services and product lines, it is well-positioned for sustained success. Observers, including investors and consumers, are eagerly anticipating this launch, which may pave the way for a brighter future for Apple.
Source : Apple’s Growth Rekindled by iPhone 16 Sales Surge in China – Thailand Business News
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