ASEAN Exchanges

Gateway to ASEAN Investment

ASEAN Exchanges is a collaboration among the exchanges in the ASEAN countries with the objectives of promoting greater integration of the ASEAN capital markets, enhancing the visibility of ASEAN as an asset class, and strengthening ASEAN as an attractive investment destination for both ASEAN and global investors.

Current participating ASEAN exchanges (“Member Exchanges”) are Bursa Malaysia Berhad, Indonesia Stock Exchange, The Philippine Stock Exchange, Singapore Exchange, The Stock Exchange of Thailand, and Vietnam Exchange.

Cross Asset Strategy

<ul>
<li>
ASEAN is scaling into a top-tier economic engine, targeting a US$4.2T GDP in 2025 and cementing its position as the world’s fifth-largest bloc.
</li>
<li>
Regional exports are set for a breakout phase—BCG projects ~90% growth by 2031 to US$3.2T annually, far outpacing sub-30% global trade expansion.
</li>
<li>
The uplift is anchored by supply-chain integration across autos, electronics, apparel, agri-food, and data/IT services, supported by policy tailwinds and US–China realignment.
</li>
</ul>



ASEAN is scaling into a top-tier economic engine, targeting a US$4.2T GDP in 2025 and cementing its position as the world’s fifth-largest bloc.


Regional exports are set for a breakout phase—BCG projects ~90% growth by 2031 to US$3.2T annually, far outpacing sub-30% global trade expansion.


The uplift is anchored by supply-chain integration across autos, electronics, apparel, agri-food, and data/IT services, supported by policy tailwinds and US–China realignment.



External Trade Focus: ASEAN–China Relations in a Rebalanced World

<ul><li>Dual listings between ASEAN Markets are a relatively new concept, which allows locally listed companies to list on another exchange in the region, often under a Depositary Receipt (DR) scheme.</li><li>These instruments can be orchestrated by the companies themselves, either as a secondary listing, as depositary receipts, or the listings can be sponsored by a broker or investment bank.</li><li>Most dual listings are secondary listings rather than primary listings but will still be subject to regulations in the secondary market.</li></ul>

Dual listings between ASEAN Markets are a relatively new concept, which allows locally listed companies to list on another exchange in the region, often under a Depositary Receipt (DR) scheme.These instruments can be orchestrated by the companies themselves, either as a secondary listing, as depositary receipts, or the listings can be sponsored by a broker or investment bank.Most dual listings are secondary listings rather than primary listings but will still be subject to regulations in the secondary market.

Dual Listings In ASEAN: Trends And Drivers

<ul><li>In line with volatility seen in global financial markets, the capital markets in the ASEAN region have experienced periods of robust growth combined with significant downturns during the past several years.</li><li>The year 2023 was a year of uncertainty due to geopolitical tensions and macroeconomic uncertainties.</li><li>Despite these uncertainties, the capital markets in the region as a whole have fared well and shown several signs of recovery in 2024.</li></ul>

In line with volatility seen in global financial markets, the capital markets in the ASEAN region have experienced periods of robust growth combined with significant downturns during the past several years.The year 2023 was a year of uncertainty due to geopolitical tensions and macroeconomic uncertainties.Despite these uncertainties, the capital markets in the region as a whole have fared well and shown several signs of recovery in 2024.

ASEAN Capital Markets – 2024 Recap and 2025 Outlook

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Thematic (Sector/Industry)

<ul>
<li>The <a href="https://www.smartkarma.com/entities/singapore-exchange-ltd" target="_blank" data-smartkarma-citation="entities:1047:1" rel="noopener">SGX (SGX SP)</a> has launched Single Stock Futures (SSF) on <a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea Ltd (SE US)</a> and <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor Sp Adr (TSM US)</a> and both products starting trading on 28 February.</li>
<li>The introduction of SSF on SEA takes on added significance following the inclusion of the ADR in the <a href="https://www.smartkarma.com/entities/msci-singapore-free-index" target="_blank" data-smartkarma-citation="entities:22898:1" rel="noopener">SIMSCI INDEX</a> and the significant weight of the ADR in the index.</li>
<li>We take a look at how market participants can use the Single Stock Futures for exposure to the stock, hedging and portfolio risk management.</li>
</ul>


The SGX (SGX SP) has launched Single Stock Futures (SSF) on Sea Ltd (SE US) and Taiwan Semiconductor Sp Adr (TSM US) and both products starting trading on 28 February.
The introduction of SSF on SEA takes on added significance following the inclusion of the ADR in the SIMSCI INDEX and the significant weight of the ADR in the index.
We take a look at how market participants can use the Single Stock Futures for exposure to the stock, hedging and portfolio risk management.


Singapore

The MSCI Singapore Free Index is a free-float market capitalization weighted equity index. Since 12/01/1999, MSCI removed the "Free" designation from this index - this index now shares the same members and weights as the MSCI Singapore Index (MXSG Index), but continues to be calculated to be consistent with the index levels before this date.

MSCI Singapore Free Index (SIMSCI INDEX)

External Trade Focus: ASEAN–China Relations in a Rebalanced World

ASEAN is scaling into a top-tier economic engine, targeting a US$4.2T GDP in 2025 and cementing its position as the world’s fifth-largest...

ASEAN Exchanges

Dual Listings In ASEAN: Trends And Drivers

Dual listings between ASEAN Markets are a relatively new concept, which allows locally listed companies to list on another exchange in the region,...

ASEAN Exchanges

ASEAN Capital Markets – 2024 Recap and 2025 Outlook

In line with volatility seen in global financial markets, the capital markets in the ASEAN region have experienced periods of robust growth...

ASEAN Exchanges

SEA & TSMC ADR Single Stock Futures

The SGX has launched Single Stock Futures on SEA and TSMC ADR and the products started trading on 28 Feb. In this Insight, we take a look at the...

Brian Freitas