The stock exchanges of seven members of the Association of Southeast Asian Nations (ASEAN) at the same time joined the ASEAN Exchange.
The website`s launching was witnessed by ASEAN Secretary General Surin Pitsuwan and CEOs of the seven stock exchanges that joined the ASEAN Exchange. On the same occasion, an ASEAN Exchange logo was unveiled.
ASEAN financial ministers held their 15th meeting here on Friday, which was opened by President Susilo Bambang Yudhoyono and attended also by the World Bank`s executive director, Sri Mulyani, Asian Development Bank president Kuroda Haruniko and the International Monetary Fund deputy executive director Naoyuki Shinohara.
Indonesia Stock Exchange CEO Ito Warsito said in his speech representing his colleagues that the ASEAN Exchanges was not a common stock exchange as it came out of collaboration based upon regional interest.
"This is one of the stepping stones to realize ASEAN 2020 Vision according to the blueprint of the ASEAN Community key to movement of goods, services, investment and skilled workers," he said.
His colleagues who attended the event were CEOs of the Philippine Stock Exchange, Hans B Sicat, of Thailand Stock Exchange, Charamporn Jotikashtira, of Singapore Stock Exchange, Gan Seow Anum and of Bursa Malaysia, Tajuddin Atan.
In the ASEAN Exchanges each stock exchange presents the top 30 of its listed companies, selected based upon their performance for the past six months and LQ-45-based indicators and liquidity determined upon soundness parameters.
These indicators are later known as ASEAN Connect replacing its former name ASEAN Linkage.
So, investors could see 210 companies in the website. A total of 3,000 companies have been listed in stock exchanges in the ASEAN region of 538 million population with combined gross domestic product of US$2 trillion in 2010.
"So we will together promote ourselves. This were world-class assets that could be offered for investment to boost investment activities in the region," Warsito said.
Gan meanwhile said the main thing about the ASEAN Exchange was that "the collaboration among the seven stock exchanges will mean much higher effectiveness as it provides easy accessiblility, emphasis on products and boosts promotion."
The website would also facilitate promotional activity and make it possible to reach out directly to would-be investors together, he said.
(SYS/H-YH/B003)
Editor: Suryanto
Copyright © ANTARA 2011
