Daily Briefing: Singapore creates group to improve market stability; Change sweeps debt markets

And MAS won’t ease property cooling measures anytime soon.

Singapore Exchange Ltd. said it has formed a committee to look at ways to improve the operational resiliency of its markets. SGX created the Securities Industry Working Group in consultation with the Monetary Authority of Singapore, it said in a statement Tuesday. The group will be led by Ho Tian Yee, a DBS Group Holdings Ltd. board member. Read more here.

The recent woes of Hanjin Shipping Co. underscore a sea change blowing through the Asian debt market as companies, lenders, and investors come to grips with a 'new normal' in corporate financing: banks appear less inclined to prop up national champions in oversupplied sectors. That's the conclusion from analysts at HSBC Holdings Plc, who say high private-sector leverage combined with stubborn over-capacity in trade- and commodity-orientated sectors, are propelling Asian banks in mature markets to become more conservative in their lending practices. Read more here.

The Monetary Authority of Singapore (MAS) will not ease the property cooling measures which have caused home prices to drop by almost 10 percent anytime soon, reported Bloomberg. MAS Managing Director Ravi Menon explained that last week’s relaxation of mortgage refinancing rules by the central bank is aimed at easing the debt burdens of homeowners, and not create demand for new home loans. Find out more here.