Singapore Exchange Ltd is pushing for Chinese fund managers to invest in Asian markets such as India through the city-state’s bourse, chief executive officer Hsieh Fu Hua (謝福華) said yesterday.
“Singapore’s exchange allows Chinese fund houses to look beyond the mainland and Hong Kong, in particular at India, where we’re making a big push, and also in Japan and Taiwan,” Hsieh said at a press briefing in Beijing.
Singapore’s exchange is also encouraging Chinese funds to invest in commodities through the bourse, said Hsieh, who met Chinese fund houses with overseas investment quotas under the so-called qualified domestic institutional investor program.
Hsieh was speaking at a briefing marking the opening of Singapore Exchange’s first office in China. The company, also known as SGX, runs Singapore’s securities and derivatives markets.
Rivals NYSE Euronext, NASDAQ Stock Market Inc and London Stock Exchange Group Plc opened offices in China following a change in regulations last year to vie for an increasing number of Chinese firms going public.
There are 141 Chinese companies listed on Singapore’s exchange with a total market capitalization of S$45.1 billion (US$33 billion).
Of the 40 new initial public offerings by foreign companies in the nine months since July 1, 27 of them are from China, SGX said on Monday.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday obtained the government’s approval to inject an additional US$7.5 billion into its US subsidiary, the Department of Investment Review said in a statement. The department approved TSMC’s application of investing in TSMC Arizona Corp, which is engaged in the manufacturing, sales, testing and design of IC and other semiconductor devices, it said. The latest capital injection follows a US$5 billion investment for TSMC Arizona approved in June. The chipmaker has broken ground on two advanced fabs in Arizona with aggregated investments approved by the department totaling US$24 billion thus far. According to TSMC, the first Arizona
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