At present, the world is increasingly interconnected and
cross-border investment is much more convenient and faster than before. This is
partly because of the relaxation of the rules and regulations pertaining to
capital movement and securities trading technological development which
facilitate faster and efficient trading enabling investors to have alternative
investment choices. Stock exchanges in many countries, on the other hands, are
competing for investments while new capital market environment will be faced
with unavoidable and intensifying volatility and competition.