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Stock Market
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2000-03-21 14:58:00-05
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SET-Tokyo Exchange form linkage
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Thai brokerage to open Tokyo office. Closer financial links between Thailand and Japan emerge in two separate developments
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The Stock Exchange of Thailand has announced that it had formed a strategic alliance with the Tokyo Exchange to share information on market conditions, regulatory actions and surveillance. Similar agreements are already in place with stock exchanges in New York, Philadelphia, San Francisco, Lima and Luxembourg. The agreements are hoped to increase the competitiveness of the SET. In a separate development, Seamico Securities, headquartered in Bangkok, announced the opening of a Tokyo office to initiate cross-border brokerage, investment banking and debt trading. The Tokyo announcement comes after the firm announced the opening of 12 local branches to expand its business. These moves come as the Stock Exchange of Thailand seems to be recovering after early-year losses. The company sees the move as facilitating business with Japanese investors and companies. In 1999, Japan was the leading investor in Thailand. Company officials also see the beginning of a period when investment within Asia will accelerate and thus, seek to capitalize on this perceived development. The Tokyo office will be headed by Hitoshi Tani, who has long experience in the Japanese investment community as president of EXE Asia Co., president of Critchley, Japan, chairman of Sakura Ventures and chairman of Hotel Nikko in Hanoi.
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