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

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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.
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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.
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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.
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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>Even as economies around the world pursue economic growth, these efforts cannot be isolated from a focus on sustainability.</li><li data-start="0" data-end="136">Growth must be paired with sustainability to unlock future opportunities while managing large-scale climate and environmental risks.</li><li data-start="0" data-end="136">ASEAN’s dense urban centers and coastal exposure make it highly vulnerable to cyclones, floods, heatwaves and droughts.</li></ul>

Even as economies around the world pursue economic growth, these efforts cannot be isolated from a focus on sustainability.Growth must be paired with sustainability to unlock future opportunities while managing large-scale climate and environmental risks.ASEAN’s dense urban centers and coastal exposure make it highly vulnerable to cyclones, floods, heatwaves and droughts.

Green ASEAN: Nurturing Sustainable Growth

<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

<ul><li>China’s rise as a global manufacturing hub was fueled by WTO accession in 2001, supported by export-friendly policies, low-cost labor, and rapid infrastructure development.</li><li>A 1994 currency devaluation and a shift to value-added goods boosted productivity as labor costs increased.</li><li>Since the mid-2010s, rising costs and geopolitical factors have driven supply chains to Southeast Asia.</li></ul>

China’s rise as a global manufacturing hub was fueled by WTO accession in 2001, supported by export-friendly policies, low-cost labor, and rapid infrastructure development.A 1994 currency devaluation and a shift to value-added goods boosted productivity as labor costs increased.Since the mid-2010s, rising costs and geopolitical factors have driven supply chains to Southeast Asia.

The Shift Of Supply Chains From China To Southeast Asia