S'pore-Australia bourse tie up threatens Tokyo
Friday, 29 October 2010
TOKYO, Oct 28 (AFP): Japan's top exchange will seek its own alliances if a planned multi-billion dollar merger of the Singapore and Sydney stock exchanges goes ahead, the bourse's head said in a report Wednesday.
Atsushi Saito, chief executive of the Tokyo Stock Exchange, told the Financial Times that if SGX’s 8.2 billion dollar offer for ASX went ahead, it would not be "a good story" for Tokyo.
"If Japan becomes isolated on the international stage -- that is not good," he said. "There are many options. There could be a combination of TSE and others on an international basis."
Saito’s remarks illustrate how the proposed offer by Singapore’s SGX for ASX has ruffled the region.
Atsushi Saito, chief executive of the Tokyo Stock Exchange, told the Financial Times that if SGX’s 8.2 billion dollar offer for ASX went ahead, it would not be "a good story" for Tokyo.
"If Japan becomes isolated on the international stage -- that is not good," he said. "There are many options. There could be a combination of TSE and others on an international basis."
Saito’s remarks illustrate how the proposed offer by Singapore’s SGX for ASX has ruffled the region.