Prime Minister Datuk Seri Najib Razak delivers his keynote address at the World Capital Market Symposium 2018 in Kuala Lumpur on February 6, 2018. (Source: Bernama)

Kuala Lumpur (VNA) – Malaysia and Singapore have agreed to establish a market corridor to connect their stock markets this year in order to spur further mutual benefits and fully tap economic potential.

Addressing the World Capital Market Symposium 2018 in Singapore on February 6, Malaysian Prime Minister Najib Razak said that this “Malaysia-Singapore Connect” will provide investors of both sides with easier and seamless access to each other’s market with a combined capitalisation of more than 1.2 trillion USD and 1,600 public listed companies.

The PM reported the establishment of the market corridor followed discussions he had with his Singaporean counterpart Lee Hsien Loong.

He said Malaysia and Singapore agreed that both stock exchanges had reached a sufficient level of sophistication and degree of maturity for the establishment of the market corridor.

Following the decision, a regulatory arrangement will be worked on by the countries’ relevant authorities, to pave the way for the establishment of the trading link.-VNA