SINGAPORE, June 16: Singapore Exchange (SGX) said on Friday it was looking forward to a closer collaboration with the Tokyo Stock Exchange following its acquisition of a stake in the local stock exchange operator.

“We welcome this investment,” said SGX chief executive Hsieh Fu Hua. “We understand that it is long-term in nature, and endorses our role as an Asian gateway.

“We look forward to exploring opportunities for closer collaboration with TSE.” The TSE said on its website it had purchased 53.051 million shares in SGX, or about 4.99pc of its issued share capital, and had informed the exchange after the close of trade.

“TSE initiated this purchase recognising the importance of having closer collaboration with SGX,” the Tokyo bourse said.

—AFP