Myanmar's stock market cracks open door to foreigners

Lower barriers and more listings key to drawing overseas investors

YSX

New rules permit foreign residents and nonresidents to open accounts at domestic brokerages, through which participants invest. (Photo by Yuichi NItta)

YUICHI NITTA, Nikkei staff writer

YANGON -- Foreign investors were allowed into Myanmar's fledgling stock market on Monday, stoking hopes that the infusion of international funds will breathe new life into the country's economy.

"Myanmar's economic reforms have taken longer than imagined, but they're definitely advancing," said Hideki Matsushita, a Japanese national who heads a local investment company. Matsushita has applied to open a local brokerage account, required for noncitizens if they want to invest.

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