Karachi Stock Exchange

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Karachi Stock Exchange
Type	Stock Exchange
Location	Karachi, Pakistan
Owner	Karachi Stock Exchange Limited
Key people	Adnan Afridi, CEO
Currency	PKR
No. of listings	671
MarketCap	US$ 73 billion
Volume	US$ 12 billion
Indexes	KSE 100 Index KSE-30 Index
Website	www.kse.com.pk

The Karachi Stock Exchange or KSE is a stock exchange located in Karachi, Sindh, Pakistan. Founded in 1947, it is Pakistan's largest and oldest stock exchange, with many Pakistani as well as overseas listings. Its current premises are situated on Stock Exchange Road, in the heart of Karachi's Business District.

Contents 1 History 2 Business 2.1 Trading 3 Growth 4 2008 Karachi Stock Exchange Crisis 5 See also 6 References 7 External links

History

Karachi Stock Exchange is the biggest and most liquid exchange in Pakistan. It was declared the “Best Performing Stock Market of the World for the year 2002”. As on May 30, 2008, 654 companies were listed with a market capitalization of Rs. 3,746.203 billion (US$ 56.334 billion) having listed capital of Rs. 705.873 billion (US$ 10.615 billion). The KSE 100TM Index closed at 12130.51 on May 30, 2008.

Business

Trading

The exchange has pre-market sessions from 09:15am to 09:30am and normal trading sessions from 09:30am to 03:30pm. It is the second oldest stock exchange in South Asia.^[1] The karachi stock exchange has undergone a considerable deal of downturn partly due to global financial crisis and partly on account of domestic troubles. It remained suspended in excess of 4 months and resumed normal trading only on December 15,2008. The KSE 100 Index and KSE 30 Index after hitting the low around mid january has now rebounced and recovered 20-25% till March 12th 2009.

Growth

The KSE is the biggest and most liquid exchange in Pakistan and in 2002 it was declared as the “Best Performing Stock Market of the World” by Business Week. As of December 20, 2007, 671 companies were listed with the market capitalization of Rs. 4364.312 billion (US$ 73 Billion) having listed capital of Rs. 717.3 billion (US$ 12 billion). On December 26, 2007, the KSE 100 Index reached its ever highest value and closed at 14,814.85 points.

Foreign buying interest had been very active on the KSE in 2006 and continued in 2007. According to estimates from the State Bank of Pakistan, foreign investment in capital markets total about US$523 Million. According to a research analyst in Pakistan, around 20pc of the total free float in KSE-30 Index is held by foreign participants.

KSE has seen some fluctuations since the start of 2008. One reason could be that it is the election year in Pakistan, and stocks are expected to remain dull. KSE has set an all time high of 15,000 points, before settling around the 14,000 mark.

Karachi stock exchange Board of Directors has recently (2007) announced plans to construct a 40 story high rise KSE building, as a new direction for future investment.

Disputes between investors and members of the Exchange are resolved through deliberations of the Arbitration Committee of the Exchange.

KSE began with a 50 shares index. As the market grew a representative index was needed. On November 1st, 91 the KSE-100 was introduced and remains to this day the most generally accepted measure of the Exchange. Karachi Stock Exchange 100 Index (KSE-100 Index) is a benchmark used to compare prices overtime, companies with the highest market capitalization are selected. To ensure full market representation, the company with the highest market capitalization from each sector is also included.

In 1995 the need was felt for an all share index to reconfirm the KSE-100 and also to provide the basis of index trading in future. On August the 29th, 1995 the KSE all share index was constructed and introduced on September 18, 1995.

2008 Karachi Stock Exchange Crisis

• April 20 : Karachi Stock Exchange achieved a major milestone when KSE-100 Index crossed the psychological level of 15,000 for the first time in its history and peaked 15,737.32 on 20 April, 2008. Moreover, the increase of 7.4 per cent in 2008 made it the best performer among major emerging markets.^{[2] [3]}
• May 23: Record high inflation in the month of May, 2008 resulted in the unexpected increase in the interest rates by State Bank of Pakistan which eventually resulted in sharp fall in Karachi Stock Exchange.^{[4] [5]}
• July 17 :Angry investors attacked the Karachi Stock Exchange in protest at plunging Pakistani share prices. ^{[6] [7]}
• July 16 : KSE-100 Index dropped one-third from an all-time high hit in April, 2008 as rising pressure on shaky Pakistan's coalition government to tackle Taliban militants exacerbates concern about the country's economic woes. ^[8]
• August 18: KSE 100 Index rose more than 4% after the announcement of the resignation of President Pervez Musharraf but Credit Suisse Group said that Pakistan's Post-Musharraf rally in Stock Exchange will be short-lived because of a rising fiscal deficit and runaway inflation. ^{[9] [10]}
• August 28 :Karachi Stock Exchange set a floor for stock prices to halt a plunge that has wiped out $36.9 billion of market value since April. ^[11]
• December 15: Trading resumes after the removal of floor on stock prices that was set on August 28 to halt sharp falls. ^[12]

See also

• KSE 100 Index.
• Lahore Stock Exchange.
• Islamabad Stock Exchange.
• Economy of Pakistan
• Economy of Karachi
• List of Pakistani companies
• List of stock exchanges

References

1. ^ Market Hours, Karachi Stock Exchange via Wikinvest
2. ^ Karachi Stock Exchange reaches record high - Gulf News
3. ^ Monster & Critics
4. ^ Pakistan Stocks Slump, Led by Banks, After Unexpected Rate Rise - Bloomberg
5. ^ Billions wiped off on KSE’s ‘black Friday’ - Dawn.com
6. ^ Protest over Pakistan share slump - BBC News
7. ^ Pakistani Investors Stone Exchange as Stocks Plunge - Bloomberg
8. ^ Forbes.com
9. ^ Pakistan shares up on resignation - BBC News
10. ^ Pakistan's Post-Musharraf Rally Will Falter, Credit Suisse Says - Bloomberg
11. ^ Pakistan Stock Index Is Little Changed; Trading Limits Remain Bloomberg
12. ^ Pakistan’s Stock Index Falls to 2-Year Low After Lifting Curbs - Bloomberg

External links

• Karachi Stock Exchange Website
• Fund Managers Resource
• A Memorable Year for Pakistani bourses, Dawn, Dec. 31, 2002
• Who parented the stock market boom?, Dawn, Jan. 20, 2003

Osaka Securities Exchange

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Osaka Stock Exchange
大阪証券取引所

Type	Privately-held K.K.
Founded	June 1878
Headquarters	Osaka, Japan
Key people	Michio Yoneda (Chairman/CEO)
Industry	Financial
Products	Securities exchange
Employees	207
Website	http://www.ose.or.jp/e/index.html

Osaka Securities Exchange Building in Chuo-ku, Osaka

The Osaka Securities Exchange Co., Ltd. (株式会社大阪証券取引所 ,Kabushiki-gaisha Ōsaka Shōken Torihikijo^?, OSE) (Hercules: 8697) is the second largest securities exchange in Japan, in terms of amount of business handled. As of 31 December 2007, the Osaka Securities Exchange had 477 listed companies with a combined market capitalization of $212 billion.^[1] The Nikkei 225 Futures, introduced at the Osaka Securities Exchange in 1988, is now an internationally recognized futures index. In contrast to the Tokyo Securities Exchange, which mainly deals in spot trading, the Osaka Securities Exchange’s strength is in derivative products today OSE is the leading Derivatives Exchange in Japan and it was the largest futures market in the world in 1990 and 1991. According to statistics from 2003, the Osaka Securities Exchange handled 59% of the stock price index futures market in Japan, and almost 100% of trading in the options market. Osaka Securities Exchange Co., which listed on its Hercules market for startups in April 2004 is the only Japanese securities exchange which went public on its own market.

In July 2006 OSE launched their newest futures contract the Nikkei 225 mini which is one tenth of the size of the original Nikkei 225 Futures contract and highly popular among Japanese individual investors. In September 2007 OSE established evening session for Stock Index Futures and Options.The trading hours is from 16:30 to 19:00 (JST. 7:30-10:00 in UTC).^[2]

Contents

• 1 History
• 2 Chronology
• 3 See also
• 4 References
• 5 External links

New York Stock Exchange

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This article is about the stock exchange itself. For its parent company, see NYSE Euronext.

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New York Stock Exchange
Type	Stock exchange
Location	New York City, New York, United States
Coordinates	40°42′24″N 74°00′41″W / 40.70667°N 74.01139°W / 40.70667; -74.01139
Owner	NYSE Euronext
Key people	Duncan Niederauer (CEO)
Currency	United States dollar
No. of listings	2,773
MarketCap	US$25 trillion (2006)
Volume	US$22 trillion (2006)
Indexes	NYSE Composite Dow Jones Industrial Average
Website	www.nyse.com

New York Stock Exchange
U.S. National Register of Historic Places
U.S. National Historic Landmark
Front Elevation of New York Stock Exchange
Location:	New York, NY
Coordinates:	40°42′24.21″N 74°0′41.6″W / 40.706725°N 74.011556°W / 40.706725; -74.011556
Built/Founded:	1903
Architect:	Trowbridge & Livingston; George B. Post
Architectural style(s):	Classical Revival
Governing body:	Private
Added to NRHP:	June 2, 1978[1]
Designated NHL:	June 2, 1978[2]
NRHP Reference#:	78001877

New York Stock Exchange is an equity (stock) exchange located at 11 Wall Street in lower Manhattan, New York, USA). It is the largest stock exchange in the world by dollar value of its listed companies' securities.^[3] As of October 2008, the combined capitalization of all domestic New York Stock Exchange listed companies was US$10.1 trillion.^[4]

The NYSE is operated by NYSE Euronext, which was formed by the NYSE's 2007 merger with the fully-electronic stock exchange Euronext. The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978,^[5] as was the 11 Wall Street building.^[2][6][7]

Contents 1 History 1.1 Events 1.2 Timeline 2 Trading 2.1 NYSE Composite Index 3 See also 4 References 5 Bibliography 6 External links

Istanbul Stock Exchange

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Istanbul Stock Exchange

Type	Public
Founded	1866-1986
Headquarters	Istanbul, Turkey
Key people	Hüseyin Erkan,CEO-Chairman
Industry	Financial
Products	Stocks
Website	ise.org

The Istanbul Stock Exchange (ISE)[1] (Turkish: İstanbul Menkul Kıymetler Borsası, İMKB) is the only corporation in Turkey for securities exchange established to provide trading in equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities. The ISE was founded as an autonomous, professional organization in early 1986. It is situated in a modern building complex in Emirgan, on the European side of Istanbul since May 15, 1995. The Chairman and Chief Executive Officer of the ISE is Hüseyin Erkan who was appointed by the government on November 2, 2007.

ISE is home to 320 national companies. Trading hours are 09:30-12:00 for the first session and 14:00-17:00 for the second session, on workdays. All ISE members are incorporated banks and brokerage houses.

ISE price indices are computed and published throughout the trading session while the return indices are calculated and published at the close of the session only. The indices are: ISE National-All Shares Index, ISE National-30, ISE National-50, ISE National-100, Sector and sub-sector indices, ISE Second National Market Index, ISE New Economy Market Index and ISE Investment Trusts Index. The ISE National-100 Index contains both the ISE National-50 and ISE National-30 Index and is used as a main indicator of the national market.

Hong Kong Stock Exchange

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Hong Kong Stock Exchange
Type	Stock exchange
Location	Central, Hong Kong
Currency	Hong Kong dollar
Indexes	Hang Seng Index
Website	hkex.com.hk

The Hong Kong Stock Exchange (traditional Chinese: 香港交易所, also 港交所 (HKEX), SEHK: 0388) is the stock exchange of Hong Kong. The exchange has predominantly been the main exchange for Hong Kong where shares of listed companies are traded. It is Asia's third largest stock exchange in terms of market capitalization, behind the Tokyo Stock Exchange and the Shanghai Stock Exchange. As of 31 December 2007, the Hong Kong Stock Exchange had 1,241 listed companies with a combined market capitalization of $2.7 trillion.^[1] Hong Kong Exchanges and Clearing is the holding company for the exchange.

1 History 2 Business 2.1 Regulatory role 3 Trading Characteristics 4 40 Largest Stocks by Market Capitalisation 5 See also 6 References 7 External links

History

Hong Kong Exchange Trade Lobby

The history of the securities exchange began formally in the late 19th century with the first establishment in 1891, though informal securities exchanges have been known to take place since 1861^[2]. The exchange has predominantly been the main exchange for Hong Kong despite co-existing with other exchanges at different point in time. After a series of complex mergers and acquisitions, HKSE remains to be the core. From 1947 to 1969 the exchange monopolized the market.

National Stock Exchange of India

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National Stock Exchange Limited
Type	Stock Exchange
Location	Mumbai, India
Coordinates	19°3′37″N 72°51′35″E / 19.06028°N 72.85972°E / 19.06028; 72.85972
Owner	National Stock Exchange of India Limited
Key people	Mr. Ravi Narain Managing Director
Currency	INR
No. of listings	1587
MarketCap	US$ 1.46 trillion (2006)
Indexes	S&P CNX Nifty CNX Nifty Junior S&P CNX 500
Website	www.nse-india.com

The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India in terms of daily turnover and number of trades, for both equities and derivative trading.^[1]. Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation.

NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities^[2]. There are at least 2 foreign investors NYSE Euronext and Goldman Sachs who have taken a stake in the NSE.^[3] As of 2006^[update], the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India ^[4]. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities.^[5]It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%.^[6]

Contents 1 Origins 2 Innovations 3 Markets 4 Hours 5 Indices 6 Certifications 7 See also 8 References 9 Membership 10 External links

Origins

NSE building at BKC

The National Stock Exchange of India was promoted by leading Financial institutions at the behest of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.

Tokyo Stock Exchange

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Tokyo Stock Exchange
東京証券取引所
Type	Stock exchange
Location	Tokyo, Japan
Coordinates	35°40′57.60″N 139°46′43.71″E / 35.6826667°N 139.7788083°E / 35.6826667; 139.7788083
Founded	1878
Owner	Tokyo Stock Exchange Group, Inc.
No. of listings	2,412
MarketCap	JPY 483.828 trillion (2007-12-31)
Volume	JPY 762.646 trillion/year (2007)
Indexes	TOPIX Nikkei 225
Website	www.TSE.or.jp

The main trading room of the Tokyo Stock Exchange, where trading is currently completed through computers.

The Tokyo Stock Exchange (東京証券取引所 ,Tōkyō Shōken Torihikisho^?), or TSE, located in Tokyo, Japan, is the second largest stock exchange market in the world by market value, second only to the New York Stock Exchange. As of 31 December 2007, the the Tokyo Stock Exchange had 2,414 listed companies with a combined market capitalization of $4.3 trillion.^[1]

Contents [hide] 1 Structure 2 History 2.1 Prewar history 2.2 Postwar history 2.3 I.T. issues 3 Hours 4 Alliances 5 London Stock Exchange joint venture 6 See also 7 References

[edit] Structure

The TSE is incorporated as a kabushiki kaisha with nine directors, four auditors and eight executive officers. Its headquarters are located at 2-1 Nihombashi Kabutocho, Chūō, Tokyo, Japan. Its operating hours are from 9:00 to 11:00 am, and from 12:30 to 3:00 pm. From April 24, 2006, the afternoon trading session started at its usual time of 12:30 p.m.

Stocks listed on the TSE are separated into the First Section (for large companies), the Second Section (for mid-sized companies), and the "Mothers" section (for high-growth startup companies). As of March 2006, there are 1,721 First Section companies, 489 Second Section companies and 156 Mothers companies.

The main indixes tracking the TSE are the Nikkei 225 index of companies selected by the Nihon Keizai Shimbun (Japan's largest business newspaper), the TOPIX index based on the share prices of First Section companies, and the J30 index of large industrial companies maintained by Japan's major broadsheet newspapers.

89 domestic and 19 foreign securities companies participate in TSE trading. See: Members of the Tokyo Stock Exchange

Other TSE-related institutions include:

• The exchange's press club, called the Kabuto Club (兜倶楽部 ,Kabuto kurabu^?), which meets on the third floor of the TSE building. Most Kabuto Club members are affiliated with the Nihon Keizai Shimbun, Kyodo News, Jiji Press, or business television broadcasters such as Bloomberg LP and CNBC. The Kabuto Club is generally busiest during April and May, when public companies release their annual accounts.

On 15 June 2007, the TSE paid $303 million to acquire a 4.99% stake in Singapore Exchange Ltd. [1]