Nasdaq ties up with Sina to offer US stock market data to China’s growing pool of investors
The US exchange will license two of its products offering data on individual stocks as well as indices and exchange-traded funds
Nasdaq has agreed to offer Sina Corp, one of China’s largest web portals, real-time last sale data for all securities traded in the US market, eyeing the country’s growing pool of middle class investors who are hungry for asset diversification and seeking overseas investment opportunities.
Beijing-based Sina operates internet portal Sina.com and the Twitter-like social media service Weibo, which had 376 million monthly active users as of last September, more than Twitter’s 330 million.
Under the agreement, Nasdaq will make available the last traded prices of US stocks through its Nasdaq Last Sale data service, as well as the Nasdaq Global Index Data Service (GIDS), which offers data on exchange-traded funds and share indices.
“China has a growing population of sophisticated investors,” said Tomas Franczyk, Hong Kong-based managing director for Asia-Pacific at Nasdaq’s Global Information Services, in a phone interview.
“The growing pool of Chinese middle class investors is increasingly interested in diversifying their assets and looking for overseas investment opportunities.”
