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Seven stock exchanges in the ASEAN region collaborated on Friday with the launch of ASEAN Brand Identity, ASEAN Exchanges Web site and ASEAN Stars, with the aim of jointly developing regional capital market estimated worth $1.8 trillion.
The launch event was announced on Friday at the 15th ASEAN Finance Ministers' Meeting in Bali, Indonesia, and was attended by ASEAN Finance Ministers and ASEAN Exchanges.
The collaboration would promote the growth of the ASEAN capital market with the intent of bringing more ASEAN investment opportunities to more people, Singapore Exchange said in a statement here.
The ASEAN capital market has a combined market capitalisation of approximately $1.8 trillion and participation of more than 3,000 companies.
Some of these companies are the largest and most dynamic companies in the world including leaders in finance and banking, telecom, commodities, automotive manufacturing and other industrial sectors.
Members
The ASEAN Exchanges collaboration members are Bursa Malaysia, Hanoi Stock Exchange, Hochiminh Stock Exchange, Indonesia Stock Exchange, The Philippine Stock Exchange, Singapore Exchange and the Stock Exchange of Thailand.
ASEAN Brand Identity encompasses a logo representing the spirit of cooperation between South East Asia Nations, based on a common element among these nations — the colours of each nation's flags.
The ASEAN Exchanges Web site ( www.aseanexchanges.org ) would feature the ASEAN Stars and other ASEAN centric products and initiatives, giving investors an integrated single—window view into the ASEAN capital market.
Renowned stocks
ASEAN Stars are made up of a selection of the 30 most exciting stocks from each exchange, ranked in terms of market capitalisation and liquidity.
These two initiatives are expected to serve as a tool for the promotion of ASEAN investment opportunities, a statement from the ASEAN Exchanges said.
The Exchanges would jointly promote the development of ASEAN as an asset class through a collaborative framework with the intent of increasing liquidity to member exchanges.
This would be achieved through a focused strategy, including driving cross border collaboration, streamlining access to ASEAN, creating ASEAN centric products and implementing targeted promotional initiatives, it said.
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