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Western and eastern stock exchanges are not the same: Vice Chairman of Samruk Kazyna

05 october 2011, 14:18
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©AFP
©AFP
Samruk Kazyna Sovereign Wealth Fund Vice Chairman of the Board Aidan Karibzhanov called not to try setting western and eastern stock exchanges against each other, Tengrinews.kz reports.

According to him, a reasonable balance has to be found instead. “Especially since Kazakhstan has always tries to find these balances between eastern and western worlds,” he said after the first Asian forum on attraction of investments and capital held in Hong Kong. “Nobody denies the role of the western financial markets and this doesn’t mean that we are switching to the eastern ones entirely. The current situation in the world is that the money supply available in the markets in South-East Asia, particularly Hong Kong and Singapore, is already apposed
to the one in New York and London,” Vice Chairman said.

Karibzhanov also spoke about differences between Hong Kong and Singapore stock exchanges. According to him, there are certain tactical issues. For example, Singapore is further from Kazakhstan, but more medium-sized companies are listed there, while there are largercompanies at the Hong Kong Stock Exchange. “The chief criteria for evaluation of stock exchanges is their liquidity, i.e. the trade volume, requirements to issuers and corporate management. That’s why I think that each of our issuers will have to decide for themselves,” he added.

Summarizing the results of the forum, Samruk Kazyna Vice Chairman also noted that the event was attended by quite influential people from Hong Kong side, who once again expressed their wish to see Kazakhstan companies in Hong Kong. “There were representatives of Samruk-Kazyna and major companies from our side. They realized this and Hong Kong will be one of the top priorities next time we have a problem on where to get listed,” Karibzhanov noted.

The first Asian forum on investments and capital was held in Hong Kong on September 30. The event covered listing opportunities of Kazakhstan companies in Asian stock markets, as well as attraction of investors in Asia. The forum was attended by representatives of government bodies and business community of Kazakhstan and Hong Kong, as well as representatives of Singapore and Hong Kong stock exchanges and Asian investors. The forum was organized by SB Capital.

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