Singapore Exchange (SGX) is set to add the American depositary receipts (ADRs) of eight more companies to its GlobalQuote platform.
GlobalQuote, which launched last October, allows Asia-based investors to trade ADRs during Asian trading hours.
Five of the new additions, including Toyota, hail from Japan, while two come from China and one is South Korean.
The two Chinese companies, Focus Media and JA Solar, currently have only US listings, so the move will allow them to be traded during Asian working hours for the first time.
‘Our increasingly diverse ADR suite enables customers to manage risk and trade across several time zones with ease and at competitive cost,’ says Chew Sutat, head of securities at SGX, in a statement.
‘Recent market events underline the importance of this flexibility and SGX looks forward to bringing more of such products to customers.’
The eight companies are:
- Focus Media Holdings (China)
- JA Solar Holdings (China)
- Mitsubishi UFJ Financial Group (Japan)
- Mizuho Financial Group (Japan)
- NTT DOCOMO (Japan)
- POSCO (South Korea)
- Toyota Motor Corporation (Japan)
- Wacoal Holdings (Japan)
[Article by Eleanor Harvie, IR magazine]