(Yicai Global) May 18 -- There is a strong relationship between the capital markets of China and the United States and the Nasdaq plans to enhance this bond, APAC Chairman Bob McCooey said at a recent financial forum in Beijing.

The Nasdaq is more than just a stock market in the United States, McCooey said at the 2020 Tsinghua PBCSF Global Financial Forum on May 16. Companies listed on the bourse support the global capital market and the Nasdaq has partnerships with multiple exchanges, many of which have been reinforced during the Covid-19 pandemic as investors are heavily reliant on local stock markets, he added.

Fifth Chinese companies listed on the Nasdaq between 2018 and 2019, including leading video platforms Bilibili and iQiyi, taking the total to around 150. Some of China’s most recognizable companies, such as Baidu, Trip.Com, JD.Com and NetEase are included in the Nasdaq 100 Index.

Despite Covid-19, Nasdaq has added 15 new companies to the exchange since mid-March and they raised around USD1.2 billion, McCooey said, adding that most were involved in bio or medical technology.

The one deal he thought was the biggest market confidence booster was the listing of Kingsoft Cloud Holdings two weeks. The firm listed at USD17 a share and raised over USD500 million on May 8, then closed the day out up 40.23 percent, he said.

Editor: James Boynton