LEAD: New Jasdaq market at OSE starts trading.
(EDS: ADDING INFO)
The new Jasdaq market, which was formed through integration of the Hercules and Jasdaq markets for start-up companies at the Osaka Securities Exchange, began trading Tuesday as one of the largest exchanges in Asia for emerging enterprises.
The exchange lists 1,005 companies, with a total market value of 8,816.3 billion yen as of the end of September.
There are two sections in the new Jasdaq market -- ''standard,'' which comprises 951 companies with assets and profits above certain levels, and ''growth,'' which covers 54 companies with prospects of future growth.
Following the launch of the new market, the Hercules index was terminated, while the Jasdaq index remains, opening Tuesday trading at 48.08, 0.27 point higher than Friday's close. Financial markets in Japan were closed Monday due to a national holiday.
The OSE said it aims to enhance its oversight over the listed companies on the new market and expand its services for investors to energize trading.
At the opening ceremony, OSE President Michio Yoneda showed readiness to support the efforts of the listed firms to expand their businesses abroad, including listing on the U.S. Nasdaq market.
Sundry goods maker Transaction Co. became the first to make its debut on the reorganized market, opening at 1,295 yen on the standard section against its public offer price of 1,400 yen.
In Tokyo, Financial Services Minister Shozaburo Jimi told a press conference he hopes the new Jasdaq market ''will play a greater role as a place for corporate fund raising while ensuring consumer protection.''
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|Publication:||Japan Weekly Monitor|
|Date:||Oct 18, 2010|
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