Australia may become Asia's financial hub.

[GoFlyKiteNow]

Singapore and Hong Kong may have to make way for Australia
Malaysia Sun
Monday 19th October, 2009

The World Economic Forum, which ranked Australia second in its annual survey of world financial systems earlier this month, has said Australia could become Asia's financial hub.

The World Economic Forum, which ranked Australia second in its annual survey of world financial systems earlier this month, has said Australia could become Asia's financial hub.

Australia's market is ranked ahead of those of Singapore and Hong Kong.

The forum found that Australia had performed better than the strongest Asian economies, with its financial sector withstanding the shocks of the last two years.

The Australian government has been pushing for the country's financial services sector to become an Asian hub, with the financial crisis serving as an opportunity.

Australia's equity market is now the eighth largest in the world.

 

[zuoom]

what's the main reason for their strength?

taxes issues? or because of commodities?

 

[annexa]

what's the main reason for their strength?

taxes issues? or because of commodities?

Easy women.

 

[Leongsam]

I thought singapore is number one in everything.

 

[shOUTloud]

the Aussie market will run while the commodities market is running. Given their time zone, I do not see them being a bigger market than Shanghai, Mumbai and HK in future.

 

[longbow]

Silliest article I have seen. I think just by amount of IPO and billions needed to be raise in China alone will make it the top 3 markets in the world.

Question is where Shanghai will steal the limelight of HK. Australia will at best be a commodities exchange

 

[GoFlyKiteNow]

what's the main reason for their strength?

taxes issues? or because of commodities?

Matured open banking system, non-restrictive liquidity flow regime, backed with a varied pool of financial instruments and a good legal system.

 

[makapaaa]

I thought singapore is number one in everything.

This cannot be further from the truth where ministerial pay is concerned. In fact, it's out of the world!

 

[longbow]

If that were the case Singapore would be a leader. I think it is more then just what you mentioned. Ask yourslef main purpose of stock market? A place for companies to raise money. Why would a Jap company raise money in Australia? Just look at Toronto, they too have a huge resource based company. They too have open banking system, non restrictive liquidity flow etc etc

Matured open banking system, non-restrictive liquidity flow regime, backed with a varied pool of financial instruments and a good legal system.

 

[Watchman]

what's the main reason for their strength?

taxes issues? or because of commodities?

Citizens ' Mandatory compulsory purchase of state's stocks/bonds !

 

[GoFlyKiteNow]

If that were the case Singapore would be a leader. I think it is more then just what you mentioned. Ask yourslef main purpose of stock market? A place for companies to raise money. Why would a Jap company raise money in Australia? Just look at Toronto, they too have a huge resource based company. They too have open banking system, non restrictive liquidity flow etc etc

The report says Asian financial hub.
Toronto is not in this geography.

Secondly..stock market is not the only factor for a financial center.
There are more important cash flow streams than stock market and
its inherent gambling / speculative stability.

Eg: The Aussie dollar is an international float within the G8.
i.e: closely interlinked to the other seven majors.

The Yen Aussie carry forward trade..is immense with
hundreds of billions flowing into Australia from Japan.

The list is long....better you read up some...