Philippines, Vietnam bourses to share information

[phuocpham]

The Philippine Stock Exchange (PSE) will sign an agreement with the Ho Chi Minh Stock Exchange (HOSE) next month to share “information and experience,” Philippine media reported Thursday.

“We intend to pursue this accord with HOSE to foster international cooperation and mutual collaboration and communication between our exchanges. In these uncertain times, we remain keen about opportunities our neighboring markets have to offer,” Philippine-based multi-media conglomerate ABS-CBN quoted PSE president Francis Lim as saying in a statement.

Both bourses will sign the agreement on September 25, 2009 in Vietnam, the report said.

The value turnover of HOSE stood at US$7 billion as of the end of last year, while domestic capital was over $9 billion, it said, citing the statement.

The PSE inked a memorandum of understanding (MOU) with the Shenzhen Stock Exchange last April, with both bourses agreeing to share information and experience on volumes, market price indicators, market data management and market regulation practices.

In February, the PSE also signed an agreement to create a trading linkage among ASEAN countries, allowing investors to buy or sell ASEAN-listed securities through their local brokers.

Some of the ASEAN bourses that teamed up with the PSE to set up the electronic linkage are Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, and the Stock Exchange of Thailand. The ASEAN electronic link is expected to be launched next year.

“We should not be contented with staying local. By partnering with our peer exchanges in the ASEAN region, the PSE is moving beyond its shores to draw strength from the successes of other markets,” the report quoted Lim as saying.