Market Chatter: Singapore Lands Among Top Five Finance Hubs Globally

MT Newswires07-03

Singapore has emerged as one of the top five finance hubs in the world along with the U.S., UK and Hong Kong, according to a Bloomberg report on Friday, citing the latest rankings of UK-based think tank New Financial.

The city-state has been steadily attracting foreign bank assets and direct investment, which propelled it from the ninth place it secured in 2015, the report said.

Singapore has surpassed economic giants like China and investment fund center Luxembourg, based on international activity in sectors such as assets under management, foreign bank holdings, and private and public fundraising, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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