Singapore Exchange Suspends Trading
- Share via
SINGAPORE — The Stock Exchange of Singapore on Sunday announced an indefinite suspension of trading to prevent panic selling after a major industrial venture was put into receivership.
Exchange Chairman Ong Tjin An told reporters that the suspension, an unprecedented move, was expected to last a few days to allow a cooling-off period for “the people to digest the situation.”
The decision came after banks and other creditors failed to work out a financial rescue package for Pan-Electric Industries, which has debts of more than $160 million.
Ong said the stock exchange, which operates Monday through Friday, had to suspend trading because “shares might fall and that’s what we’re trying to prevent.”
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
