Six Asian countries plan regional trading platform

HONG KONG (MarketWatch) -- The stock exchanges in six Southeast Asian countries are in talks to allow each bourse to add 30 leading listed companies to a connected electronic trading platform, the Financial Times reported in its online edition Wednesday.

The stock exchanges of Thailand, Malaysia, Singapore, Indonesia, Vietnam and the Philippines plan to create the platform, which will give domestic investors in each country easier and cheaper access to a portfolio of 150 foreign companies via their local brokerage, the report said.

It cited the chairman of Thailand's stock exchange, Pakorn Malakul Na Ayudhya.

The portfolio could also be marketed to western funds seeking new Asian investment opportunities. "What you see beginning to develop is the integration of stock exchanges in this part of the world," said Pakorn.

He added such initiatives would also boost economic development by allowing companies to raise capital and attract foreign investors.

As of Tuesday, the market capitalization of all companies listed in Singapore, Thailand, Philippines, Indonesia and Malaysia was more than $1.7 trillion, or greater than the market capitalization of Australia or India, according to FactSet Research data.

Singapore was the single largest market, with a capitalization of more than $663 billion..