11 Jul '11, 9am

Cambodia launches bourse without trading

Cambodia launches bourse without trading

PHNOM PENH: Cambodia launched its long-awaited national stock exchange on Monday, aimed at boosting economic growth -- but trading is not set to start for months because of a string of delays. During the opening ceremony for the exchange, Economy and Finance Minister Keat Chhon said the event was "an important historical day for the Cambodian financial sector" and a new source of "national pride". "It clearly reflects that Cambodia has been moving forward to another stage of financial sector development," he said, describing the Cambodia Stock Exchange (CSX) as "a new instrument" for saving and investment. Full operation will start before the end of the year, Keat Chhon said. Cambodia signed an agreement to set up the stock market -- a joint venture between the government and South Korea's stock exchange -- in 2008 and planned to open it in 2009. However, the launch date w...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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