Southeastern Asia bourses to be linked with Vietnam by 2013

From 2012, investors can carry out joint transactions on four markets including Thailand, Singapore, Malaysia and Philippines. By 2013, the system will be connected with Vietnam’s and Indonesia’s stock exchanges.
Reported by Channel News Asia, leaders of the stock bourses of Singapore, Thailand, Malaysia and Philippines lately agreed to appoint US-based Sungard firm as the solution provider to connect four markets. If the connection is smooth, investors can start inter-national transactions in four above markets by Q1 of 2012.

A representative of the Hochiminh Stock Exchange (HOSE) told the VnExpress on June 15 that two more markets namely Vietnam and Indonesia will be linked to the aforementioned system from 2013.

By that time, the capitalization of six joint markets in ASEAN will reach around $2.4 trillion and become the counterpoise with big Asian stock markets such as China, Japan…
The move is seen as the important step in the plan of turning 10 ASEAN members into a unity of commercial group by 2015.

The plan might have been completed by 2010 but due to economic crisis in addition to some technical barriers, the project has been delayed for many times.

General Director of Singapore Stock Exchange (SGX), Magnus Bocker said that the connection is very critical in attracting capital flows to emerging markets in the southeastern Asia countries. “The connection enables investors to easily change their investment portfolio from country to country, especially in the region where average GDP growth is expected to gain 6% in next 5 years”. – Vietbiz24

Tags: vietnam stock, Vietnam stock market, VNindex

Posted by VBN on Jun 17 2011. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry