It has been two years since Laos and Cambodia set up their stock markets but the development of capital markets in these two small emerging economies of Asean has been very limited so far.
On an average day, the combined trading turnover from the three companies listed on the Vientiane and Phnom Penh exchanges might reach the equivalent of 5 million baht, equivalent to a few minutes’ activity on the 560-company Stock Exchange of Thailand, where turnover this year has been averaging 60 billion baht.
The market capitalisation of the Lao Securities Exchange (LSX) at the end of 2012, according to its annual report, was 8.1 trillion kip or about 32.7 billion baht, compared with 13 trillion baht for the SET. Daily turnover last year in Vientiane averaged 510 million kip, or just under 2 million baht.
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