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Six Asean bourses plan trading board

 
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September 25, 2008

Six Asean bourses plan trading board
The Philippine Stock Exchange (PSE) said on Thursday it has signed an agreement with five other Southeast Asian bourses to set up electronic links and create an Asean trading board, reported Reuters.

"It is an agreement in principle," Francis Lim, PSE president told Reuters. "The details still need to be worked out, particularly the cost and the feasibility of the project."

Apart from the PSE, others who signed the agreement were Bursa Malaysia Ho Chi Minh Stock Exchange, Indonesia Stock Exchange, the Singapore Exchange and Stock Exchange of Thailand.

Southeast Asian stocks have taken a beating recently as risk averse investors move away from the region on worries about the economic fallout from the US financial crisis.

All six bourses in the region have sustained double-digit falls so far this year, with the Ho Chi Minh Stock Exchange as the worst performer with a near 50 percent drop
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