 "SGX plunges most in 17 years as MSCI inks agreement with Hong Kong")
Shares of the Singapore Exchange (SGX) plunged after MSCI announced it will move licensing for derivatives products on a host of gauges to Hong Kong from Singapore.
SGX’s stock fell close to 12 per cent, the most since 2003, amid concerns over revenue loss. The MSCI has struck an accord with Hong Kong Exchanges & Clearing to sell 37 futures and options contracts based on its Asian and emerging market measures.
It will stop licensing indexes for most derivatives products with SGX early next year after the present agreement expires.
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