Six Asean nations eye common stock exchange

BANGKOK: Six Southeast Asian countries plan to set up a common stock exchange for easier cross-border trading in big-cap stocks, an official at the Thai bourse said yesterday.
Singapore, Thailand, Malaysia, the Philippines, Indonesia and Vietnam would jointly set up an exchange for regional trading late next year, according to Nongram Wongwanich, a senior executive vice-president of the Stock Exchange of Thailand (SET).
Under the plan, large-cap shares in each participating country could be exchanged on the new trading board.
Bid and offer prices would still be conducted in the currency of each company’s home country. Trading orders would also be executed in company’s home country, Nongram said.
“The objective in setting up this common market is to boost the attractiveness of the Asian market, where individual market sizes are still small, in order draw interest from foreign investors,” Nongram said.
“This initiative will make the Asian market a single product for investors, who currently have to take time and consume lots of capital to make their investment in each local bourse,” she sa-d. – AFP