Asian stock market consolidation and Bursa Malaysia
Following this week’s Singapore-Australia stock exchange takeover announcement, some eyes are turning to Bursa Malaysia for potential alliances. Most analysts agree the the exchange is not in a position to consider formal mergers at present, but a round of consolidations in other regional markets would be enough to prompt further speculation about Bursa’s future.
Some of the gloss has come off the Singapore-Australia deal since it was speculated last Friday, with SGX losing around S$1 billion of its market capitalization and key Australian political figures expressing concern or even outright objection to the plan. A failure to do a deal might see Singapore looking elsewhere for mergers, but Bursa Malaysia is probably not a target, given imbalances in the size and nature of the two markets. Better options for future Bursa Malaysia deals may exist in China, Thailand or Indonesia.
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