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Australia, Singapore PMs discuss stock markets merger
Posted: 31 October 2010 1753 hrs
SYDNEY : Australian Prime Minister Julia Gillard urged critics of the planned merger between Singapore and Australia's stock exchanges not to seek to "disturb" current foreign investment laws.
Gillard said she discussed the proposed 8.2 billion US dollar takeover with Singapore Prime Minister Lee Hsien Loong during talks at the ASEAN Summit in Hanoi, and they both agreed there was community interest in the bid.
"We also both understood that there is a clear process to be gone through here, a clear process from the Australian point of view with our Foreign Investment Review Board and that that process would be gone through," she told ABC television on Sunday.
The proposed merging of the Sydney and Singapore stock exchanges faces political opposition in Australia, where Gillard heads a fragile minority government which relies on Greens party and independents to hold power.
Gillard said it would be inappropriate for her to speculate on whether the merger would be approved by the foreign investment watchdog, but called for due process to be respected.
"I certainly hope that no one would seek to criticise or disturb what have been long-standing and bipartisan arrangements to assessing foreign investment and assessing it through the prism of our national interest," she said.
"That's what the Foreign Investment Review Board does -- ask the question: is this in Australia's national interest?"
The Singapore-Sydney tie-up, which will also need the approval of Australia's parliament to go ahead, aims to create the world's fifth biggest exchange with a market capitalisation of about 12.3 billion US dollars.
never read today's bt haha
whats the article abbout!! care to share heh
soloman ( Date: 31-Oct-2010 19:39) Posted:
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GOOD ARTICLE IN TODAY BT
SINGTEL AND OPTUS - SAME AS SGX NOW
UNDERSTAND IT AND YOU WILL HUAT IN 10 YEARS .....................
iPunter ( Date: 31-Oct-2010 17:52) Posted:
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I must add that when we talk about trend,
we must also look at it from the perspective of time-frames..
Because at any one time, several trends
of varying time frames can be in operation...
(This is why I think that talking about 'scripts', without qualifying it with time frame, is not only silly, but dangerous, esp. for newbies).
orh! i indeed interpret wrongly lol.
iPunter ( Date: 31-Oct-2010 17:00) Posted:
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You have read me wrong...
I am not saying it is on a downtrend.
This is because, like I've always said...
no one knows the trend until after the event.
iknownothing ( Date: 31-Oct-2010 14:57) Posted:
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though it was downtrend but must also be ready for the uptrend!
hmm...now i gave up other counter to wait for this haha..playing waiting game
Cheers!
iPunter ( Date: 31-Oct-2010 12:12) Posted:
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You are right that it has already dropped a lot.
But what I am talking about is the trend...
merely falling a lot is different from trend.
To market veterans, trend is a real
and recognized a market phenomenon.
soloman ( Date: 30-Oct-2010 19:50) Posted:
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iPunter ( Date: 30-Oct-2010 19:41) Posted:
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If indeed is is in a downtrend, it would be definitely be agonizing for holders...
But the worst will befall those who are angry with the outcome
and who will definitely keep on averaging down as the downtrend continues...
But of course that's assuming it is on a downtrend..