PSE eyes partnership with Shenzhen bourse

MANILA, Philippines — The Philippine Stock Exchange (PSE) is  in talks with the Shenzhen Stock Exchange for a possible partnership in line with efforts to attract more Chinese investments into the country.

“We have been talking to a regional exchange, specifically the Shenzhen Stock Exchange to invest in the Philippine Stock Exchange,” said PSE president and chief executive officer Ramon Monzon during the annual membership meeting of the Shareholders Association of the Philippines (SharePhil).

“I don’t think our brokers are ready to invest in other markets. But again China being very liquid as far as investors are concerned, will readily invest in the Philippine market,” Monzon said.

On the sidelines of the SharePhil meeting, Monzon told reporters that talks with the Shenzhen Stock Exchange are very preliminary, but noted that the two exchanges already had a memorandum of understanding signed way back in 2009.

The MOU that both parties entered into called for the sharing of information and experience on volumes, market price indicators, market data management, annual reports, auditors’ reports and financial statements of listed companies and rules and regulation for listing and trading.

Monzon said the PSE is trying to convince the Shenzhen Stock Exchange to invest in the local bourse.