Singapore Exchange will likely benefit in the short to medium term from government measures aiming to boost the local equities market, CGS International analysts say in a note.

Tax incentives were introduced in the Singapore budget announced Tuesday. These include tax rebates and concessionary tax rates for companies looking to list on SGX, as well as tax incentives for fund managers that invest substantially in Singapore-listed equities, they write.

These measures could raise net new money inflows, local market trading turnover, liquidity and overall regional interest in the Singapore market, they say.