Steps taken towards single Asean bourse
The prospects are huge for a common Asean stock exchange since the Asean bloc is the third biggest after the North American Free Trade Agreement and the European Union
Daily TribuneThe prospects are huge for a common Asean stock exchange since the Asean bloc is the third biggest after the North American Free Trade Agreement and the European Union
Though the steps are measured, stock exchanges in the ASEAN region are marching towards the targeted integrated capital market.
Last month, CEOs and representatives from four exchanges in the region took part in the ASEAN Investment Summit in New York City.
The event was organized in collaboration with Finanacial Times Stock Exchange's Russell and provided ASEAN bourses an opportunity to promote investment in the region to global leaders and investors through information and knowledge sharing.
The prospects are huge for a common ASEAN stock exchange since the ASEAN bloc is the third biggest after the North American Free Trade Agreement and the European Union with a consumer base of 680 million people, more than 100 million of whom are in the middle-class income level with high investment aspirations.
Also notable is the region's growing number of Unicorns reaching 46 companies in 2022.
Smooth capital flow
Investment flows to ASEAN members have been resilient as it surged to the pre-pandemic levels, rising by 42 percent to reach $174 billion in 2021, which reflects the attractiveness of the region's economy to global investors.
With a large market and solid regional integration, ASEAN remains a major foreign direct investment destination in the developing world and will play an essential role in driving global economic recovery.
Iman Rachman, president Director of IDX said "the relationship among ASEAN exchanges is a longstanding one which always looks forward to working together to explore new initiatives to support the capital market."
The social core metrics that have been set up as also the event collaboration with FTSE showed that the region's markets play an active role in developing ASEAN "as a single asset class."
The Indonesia Stock Exchange or IDX, Bursa Malaysia, the Philippine Stock Exchange, The Stock Exchange of Thailand, the Singapore Exchange or SGX Group, and the Vietnam Exchange gathered in Bali for the recent 35th ASEAN Exchanges CEOs meeting.
