Singapore has been ranked third in Asia Pacific as a listing destination behind China's Hong Kong and Shanghai -- in a survey by law firm Norton Rose, local media reported Thursday.
China's Hong Kong stock exchange has attracted a number of high profile listings of late, local daily The Business Times reported.
But Singapore came out on top for having a regulatory environment that encourages financial institutions to do business.
The survey polled 314 bankers, insurers, fund managers and other professionals around the world between July and September to track market sentiment after the global financial crisis. Of these respondents, 62 were from Asia Pacific.
Asked to rank stock exchanges "in order of likely priority as a listing exchange in the Asia-Pacific" over the next five years, most respondents said that China's Hong Kong will be the most important, followed by Shanghai's. The exchanges of Singapore, Sydney and Tokyo rounded the top five.
Singapore's regulations won the support of a greater proportion of respondents - as the results show that 'strong regulation can be compatible with increased business dealings as long as the regulatory regime is clear, transparent and predictable". (PNA/Xinhua)
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