New Straits Times, 1 June 2000
Global liquidity for Nasdaq firms
The alliance between the Hong Kong Stock Exchange and Nasdaq in the US will help boost liquidity for shares of companies that do business globally, said the president of the Malaysian Investors' Association Dr.PHS Lim.
"The programme provides worldwide, instant price quotations and trade executions in a fair, orderly, low cost and well regulated environment without time-zone limitations," Dr Lim said in a statement here in reaction to the latest move towards forging a global stock market.
Seven Nasdaq-listed US companies namely Cisco Systems, Intel, Microsoft, Dell Computer, Applied Materials and biotechnology company Amgen and coffee retailer Starbucks, were traded yesterday for the first time on the Hong Kong Stock Exchange.
He also said that the programme between the two exchanges had come amid a series of international financial alliances.
The US House of Representatives last week passed a legislation to normalise trading relations with China and last month, the stock exchanges in London and Frankfurt linked up with Nasdaq to form a new Pan-European exchange.