Singapore Exchange launches ADRs, brings US-listed Asian companies to Asia 14 September 2010 – Singapore Exchange (SGX) today said it will quote American Depositary Receipts (ADRs) of 19 major Asian companies on its new GlobalQuote board from 22 October 2010.
Many of these companies, including Baidu and Suntech Power Holdings, do not have Asian home exchanges. For the first time, SGX-quoted ADRs enable investors to act on news-flow about these companies during Asian hours. ADRs quoted on GlobalQuote also provide investors with round-the-clock trading opportunities as they are fully fungible with US-listed ADRs.
The launch of the trading of these 19 ADRs marks the start of cooperation between SGX and NASDAQ OMX to bring ADR quotations to GlobalQuote, thereby linking up market participants across both trading pools. GlobalQuote is SGX’s quotation board for international securities such as ADRs, depositary receipts and depositary shares of companies already listed on other exchanges. Bank of New York Mellon acts as the depositary bank for SGX’s new ADR programme.
As a result, SGX is flying now(Live chart), up 29c as I'm typing.
And below are the counters will be listed in SGX, some of the counters including Baidu, Aluminum corp of China, China Mobile China Telecom, Petrochina are very popular picks among investors.
Below is the full list of counters:
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