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Article: Hong Kong stock exchange to seek stake in US market

Article from:
Xinhua News Agency
Article date:
September 11, 2002
Copyright

Hong Kong stock exchange to seek stake in US market

HONG KONG, Sept. 11 (Xinhua) -- Hong Kong Exchange & Clearing Ltd. is seeking to acquire a stake in the US stock market to build a global stock trading platform, a local media reported Wednesday.

The Asian Wall Street Journal said Wednesday that the company, Hong Kong's sole stock exchange operator, is in discussion of acquiring a controlling stake in the New York-based American Stock Exchange (Amex), the third largest stock market in the United States after the New York Stock Exchange and the Nasdaq.

The Amex, which was valued at 500 million US dollars to 700 million US dollars this year, would put a controlling stake within ...

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