SGX

SGX will be launching ADRs of 19 major Asian companies on its new GlobalQuote board from 22 Oct. Many of these ADRs are not listed on their Asian home exchanges & SGX ADRs will enable investors to trade these companies on Asian time. The 19 ADRs are fully fungible with US-listed ADRs. Bank of NY Mellon will act as the depositary bank for SGX’s new ADR programme.

The 19 SGX ADRs are: Baidu, Ctrip.com, Changyou.com Home Inns & Hotel, Mindary Medical, Netlease.com, Shanda Interactive, Suntech Power, Trina Solar, Aluminium Corp of China, China Eastern Airlines, China Mobile, China Southern Air, China Telecom, China Unicom, Huaneng Power, Petrochina, Sinopec, Yanzhou Coal. These are all A-list China stocks with strong insti following & will definitely give a lift to the S-chips here as well as improve the trading volumes on SGX.