Singapore, Hong Kong SPAC failures highlight thwarted ambitions

Singapore, Hong Kong SPAC failures highlight thwarted ambitions

FILE PHOTO: A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during "circuit breaker" measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su

Two years after Asia’s two big financial hubs, Singapore and Hong Kong, allowed so-called blank-check companies as a novel way to help fast-growing tech startups and others go public on their bourses, the results have fallen short of expectations.