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Deal with Chinese consortium

Capital market to boom: Economists

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17th-May-2018       
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Kazi Zahidul Hasan :
Economists on Tuesday expressed optimism about the future growth in capital market after the Chinese Consortium become the strategic partner of Dhaka Stock Exchange (DSE), the prime bourse of Bangladesh.
They said, the deal between the DSE and the Chinese Consortium comprising the Shanghai Stock Exchange and the Shenzhen Stock Exchange will boost investors' confidence, attract new investors and improve operation of the bourse to have a positive impact on the Bangladesh's capital market.
"The partnership between the DSE and the Chinese consortium will have a huge positive impact on the capital market in the long-run," Economist Dr AB Mirza Azizul Islam told The New Nation yesterday.
He said the engagement would attract more foreign and local investors, boost confidence among existing investors and help upgrade DSE operation. "All such developments are expected to help a lot for future development of the capital market.
Mirza Azizul Islam, former chairman of Bangladesh Securities and Exchange Commission (BSEC), also hoped that the development would also help much in listing multinational companies with the DSE.
"The country's stock market will be largely benefited from the partnership deal, which will create a common technology platform for buying and selling of shares and thereby it will improve transparency in the existing trading systems and prevent market manipulation," Economist Dr Ahsan H Mansur told The New Nation on Wednesday.
He said that the investors' confidence eroded after the share market crash in 2010. However, the latest development is expected to give a fresh boost in the investors' confidence. "It may act as a catalyst for the future boom of the capital market," he noted.  
 Dr Ahsan H Mansur said that the bottom line of the partnership will largely depend on the government policy support and BSEC's appropriate role in formulating rules and   
regulation to accommodate fresh investment in capital market.
"I am hopeful about the future prospect of capital market, as operation of the DSE would reach international standard in view of the strategic partnership," Economist Abu Ahmed told The New Nation.
He expressed the hope that Bangladesh's capital market will be able to attract a considerable overseas equity investment, especially from the Chinese companies, as the partnership among the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the DSE is expected to accelerate Sino-Bangladesh economic and bilateral cooperation.
On Monday, the Chinese Consortium signed an agreement with DSE to buy 25 percent stake of the country's premier bourse and became its strategic partner.

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