Singapore's Straits Times at once responded by printing photographs of Malay officers on its front page.

ECONOMIST: Malaysia and Singapore

Indonesia's benchmark index has gained 12% this year, making it one of the region's best performers, while Singapore's Straits Times Index has risen 4.15%.

WSJ: CVC to Start Pitching Matahari Share Sale Next Week

It's to signify the launching of Singapore's first homegrown exchange-traded fund, the streettracks Straits Times Index Fund.

FORBES: Can the exchange-traded fund replace the mutual fund?

In Singapore, as the name of the new ETF implies, it tracks the benchmark Straits Times Index.

FORBES: Can the exchange-traded fund replace the mutual fund?