ASEAN KEY DESTINATIONS
Baiduri Capital gives local investors access to US bourse
Brunei: LOCAL investors can now use Baiduri Capital’s online portal to trade in the US bourse.
Baiduri Bank CEO Pierre Imhof said giving Brunei-based investors access to US stock markets - the New York Stock Exchange (NYSE), NASDAQ and the NYSE MKT (AMEX) - will give Baiduri’s clients more options to diversify their portfolios.
“No other international financial market comes close to the size, accessibility, transparency and liquidity of US stock markets and this is true also in terms of market capitalisation. It represents the biggest single concentration of wealth in history,” he said in a speech delivered at yesterday’s securities trading seminar.
Gavin Chia, manager of corporate development, securities and wealth management at the Singapore-based Phillip Securities, said many clients are keen to trade in the US bourse owing to its volatility and high activity.
“It gives clients choices especially because the Singapore and Malaysia markets can be quiet sometimes. The US stock market gives people an alternative and is the most active market in the world,” he said.
Baiduri Capital’s stock trading portal started operations in June 2015 and gave clients access to trade in Singapore, Malaysia and Hong Kong exchanges. Chia said opening the US stock markets to local investors will also help Baiduri Capital attract more clients.
“Some of the clients say that they wouldn’t open an account with Baiduri until they have access to the US stock market. So that’s why we are working closely with them and now we managed to make this possible,” he said.
From today until September 18, clients can get a 20 per cent discount for tariff charged for trades done on US stock exchanges.
About 150 Baiduri Capital customers attended the seminar that was held at The Empire Hotel & Country Club. Baiduri Capital Directors Ti Eng
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