Asia’s companies have long traipsed to either the New York Stock Exchange or the NASDAQ for their public debuts. Southeast Asian tech giant Sea, for example, listed on the New York Stock Exchange in 2017. More recently, Hong Kong- and Singapore-based travel platform Klook recently filed for a listing on the NYSE.

“Historically, we’ve been dominated by one major capital market, i.e. the U.S. and Wall Street,” said Vikram Lokur, chief executive officer (Singapore) for Morgan Stanley Investment Management, said at the Fortune Innovation Forum in Kuala Lumpur, Malaysia, on Tuesday.

But that might be changing, as companies explore the possibility of listing in non-U.S. markets. “I think we’re coming into an era of what we would like to call the re-globalization of regional hubs,” Lokur said.

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