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The Hong Kong and Singapore stock markets have cautiously embraced SPAC listings, eager to emulate the success enjoyed by U.S. markets. (Source photos by Getty Images and Akira Kodaka) 
Market Spotlight

Hong Kong, Singapore investors tread carefully on SPAC listings

Financial centers look unlikely to recreate U.S. boom in shell company IPOs

CISSY ZHOU and DYLAN LOH, Nikkei staff writers | Hong Kong

HONG KONG/SINGAPORE -- The race between Singapore and Hong Kong to attract special-purpose acquisition companies (SPACs) is off to a cautious start, damping hopes the phenomenon could quickly produce a juicy revenue stream for Asia's top stock exchanges.

The two exchanges spent last year preparing new rules to encourage SPAC listings after seeing hundreds of such flotations in the U.S. and worrying that Asian companies would be lured away to list in New York.

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