Global X unveils Asean ETF

Global X says its fund is the first US-listed ETF to target the Association of Southeast Asian Nations (Asean) and looks to benefit from ongoing economic integration in the region. A planned cross-border trading platform between the Singapore, Malaysia, Thailand and the Philippines stock exchanges is slated for 2011, and there has already been a 111% rise in the number of merger and acquisition deals being carried out between Asean companies. The region has seen considerable growth recently and has a market capitalization of $1.75m, making the combined grouping larger than either Indi...