Shanghai and Brazil Stock Exchanges to form Partnership

February 17th, 2011
in econ_news

International Trade 57131757 Econintersect:  The Financial Times reports that the Shanghai Stock Exchange and the Brazilian Bovespa Exchange will sign an agreement on Monday (February 21).  Under the partnership, stocks from each country will listed on both exchanges.  While this is far short of the complete exchange mergers that are being implemented elsewhere in the world (see GEI News links at end of article), it will offer much of the same appearance to investors.

Follow up:

The cross-listing of stocks on the two exchanges will allow investors to buy Chinese stocks on the Bovespa, while Brazilian stocks will be traded in Shanghai.  The specific stocks to be listed from each country have not been identified, but it is likely that benchmark companies in Brazil, such as Petrobras, Vale and CFPL Energia will be among the first listed in Shanghai.

There have been reports that Bovespa might also enter cross-listing agreements with the Mumbai Exchange in India.  Brazilian stocks are traded as ADRs on the New York Stock Exchange, which soon will be merged with the German Stock Exchange and Brazilian mining company Vale is listed on the Hong Kong Exchange.

Source:  GEI News (here, here and here), Yahoo Finance and Financial Times 

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