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KUALA LUMPUR, Feb 6 (Reuters) - Prime Minister Najib Razak said on Tuesday that Malaysia and Singapore are working on establishing a trading link between the exchanges of both countries.
“A regulatory arrangement will be worked on by the countries’ relevant regulatory authorities, to pave the way for the establishment of this trading link,” Najib said in his speech to investors and business leaders at the World Capital Markets Symposium in Kuala Lumpur.
He said this ‘Malaysia-Singapore Connect’ will provide investors in both countries easier and seamless access to each other’s markets with a combined market capitalisation of more than $1.2 trillion and 1,600 public listed companies.
No further details or timeline for this project were immediately available.
Najib Razak also announced that margin financing rules would be liberalised and intraday short selling allowed for all investors in Malaysia’s market to make it more attractive.
New investors would also be given a fee waiver on trading and clearing fees for six months to encourage trade, Najib said. (Reporting by Joseph Sipalan; Writing by Praveen Menon; Editing by xxxx)