DR trading turnover at record highs
Fresh data from Bank of New York Mellon show DR trading turnover increased by 85% in the first half of this year, despite thin issuance volumes.
Equity markets across the globe may have been under pressure for most of the first six months of 2008, but the turnover of depositary receipts increased by 85% year-on-year to $2.4 trillion, according to fresh data published by Bank of New York Mellon. And with US-listed DRs known as American depositary receipts accounting for 86% of the total turnover, this suggests US investors are still keen on buying non-US paper.
This should be encouraging for the two Chinese companies...
To continue reading, please login or register for free