The Philippine Stock Exchange (PSE) will extend trading hours starting October 1 to try to boost trading volumes and match the hours of other Southeast Asian exchanges it will be linked with next year. This latest move by the Philippine Stock Exchange (PSE) will boost turnover in the undersized market.
Trading now lasts just two hours and 40 minutes and closes at midday which is the shortest trading hours in the Asian market.
The extension from Philippine Stock Exchange (PSE) will come in 2 phases. Coming October, trading will extend from the current 9:30 a.m. to 12pm schedule to 9:30 to 1 p.m.
And starting from January 1 next year, the trading floor will be open between 9:30am and 12pm, and then from 1:30 to 3:30pm. The extension of trading hours will help smaller brokers by keeping its floor open and it will also give brokers some time for settlement, clearing and dealing with their own clients.
Thursday's announcement was the second move this year by the exchange to generate higher trading volumes.
The stock exchange decided it needed to extend trading hours to allow volume to increase rather than wait for volume before extending.
This is not the first time the stock exchange has extended its hours. Back in 2002 it was reverted to the current schedule in less than a year after volumes failed to pick up much.
In April, it ordered the 30 large companies making up its composite index to raise the proportion of their freely traded shares from 10 percent to 12 percent by September.
It said those that failed to comply with the higher free-float requirement would be excluded from the composite index.
There are just 249 companies listed on the Philippine stock market, and total daily turnover averaged only five billion pesos (US$116.3 million) this year, according to the exchange's website.
Fewer than half a million Filipinos, or 0.5 percent of the population, owned and traded stocks last year, it said.
But those few investors have done well recently.
The composite index rose to an all-time high of 4,439.61 points on July 5, up 5.68 percent this year after a rise of 37.6 percent in 2010.
Wednesday, July 13, 2011
Friday, July 1, 2011
Singapore Exchange (SGX) will commence all-day stock trading from Aug 1
The Singapore Exchange (SGX), Asia's second-largest listed bourse operator, said yesterday that it will do away with the midday trading break on its securities market from Aug 1, 2011.
With the change, SGX's securities market will trade non- stop between 9am and 5pm (GMT+8), without taking a break from 12.30pm to 2pm (GMT+8), so as to allow investors to respond faster to regional market movements and news.
SGX had originally planned to scrap the lunch break from March but delayed the move because of opposition from some traders.
Continuous all-day trading will enhance Singapore's competitiveness as an international financial centre.
The implementation will allow investors, especially those who trade pan-Asian securities, to respond to regional market movements and news flow.
Meanwhile, the SGX derivatives market is already trading continuously.
In Asia, the Korea Exchange (KRX), India's National Stock Exchange (NSE) and Australia Stock Exchange (ASX) have already embraced continuous all-day trading.
The Tokyo Stock Exchange (TSE) and Hong Kong Exchanges and Clearing Ltd. have already announced plans to increase trading hours.
The Tokyo Stock Exchange (TSE) will extend trading hours by 30 minutes in November after postponing the move in anticipation of power shortages in the summer following the March 11 disasters.
The TSE will implement the new hours, which will effectively mean a shorter lunch break, from November 21, it said in a statement Tuesday.
The morning trading session for stocks, which opens at 9 am (GMT+9), will be extended to 11:30 am from the current 11 am. The afternoon trading session, from 12:30 pm to 3 pm, will remain unchanged.
In Mar. 7, 2011 (Monday), Hong Kong Exchange has already implemented new trading hours as follows:
Current Effective Mar. 7, 2011
Pre-opening Session 09:30 to 10:00am 09:00 to 09:30am
Morning Session 10:00 to 12:30pm 09:30 to 12:00pm
Afternoon Session 02:30 to 04:00pm 01:30 to 04:00pm
The Tokyo Stock Exchange (TSE) and Hong Kong Exchanges and Clearing Ltd. cited the need to strengthen competitiveness and enhance convenience for investors.
The continuous all-day securities trading will provide more avenues for participants to invest, hedge and arbitrage their investments.
As for Indonesia Stock Exchange (JSX), JSX is seeking approval from the country’s regulators to begin market trading hours an hour earlier around this month to align itself with other Asian markets.
Once trading is continuous all day, Singapore Exchange (SGX) member firms will offer retail investors various ways to execute orders.
These include online trading services, the use of central dealing desks, and the use of mobile technology by trading representatives to execute orders when they are off-premises.
With the change, SGX's securities market will trade non- stop between 9am and 5pm (GMT+8), without taking a break from 12.30pm to 2pm (GMT+8), so as to allow investors to respond faster to regional market movements and news.
SGX had originally planned to scrap the lunch break from March but delayed the move because of opposition from some traders.
Continuous all-day trading will enhance Singapore's competitiveness as an international financial centre.
The implementation will allow investors, especially those who trade pan-Asian securities, to respond to regional market movements and news flow.
Meanwhile, the SGX derivatives market is already trading continuously.
In Asia, the Korea Exchange (KRX), India's National Stock Exchange (NSE) and Australia Stock Exchange (ASX) have already embraced continuous all-day trading.
The Tokyo Stock Exchange (TSE) and Hong Kong Exchanges and Clearing Ltd. have already announced plans to increase trading hours.
The Tokyo Stock Exchange (TSE) will extend trading hours by 30 minutes in November after postponing the move in anticipation of power shortages in the summer following the March 11 disasters.
The TSE will implement the new hours, which will effectively mean a shorter lunch break, from November 21, it said in a statement Tuesday.
The morning trading session for stocks, which opens at 9 am (GMT+9), will be extended to 11:30 am from the current 11 am. The afternoon trading session, from 12:30 pm to 3 pm, will remain unchanged.
In Mar. 7, 2011 (Monday), Hong Kong Exchange has already implemented new trading hours as follows:
Current Effective Mar. 7, 2011
Pre-opening Session 09:30 to 10:00am 09:00 to 09:30am
Morning Session 10:00 to 12:30pm 09:30 to 12:00pm
Afternoon Session 02:30 to 04:00pm 01:30 to 04:00pm
The Tokyo Stock Exchange (TSE) and Hong Kong Exchanges and Clearing Ltd. cited the need to strengthen competitiveness and enhance convenience for investors.
The continuous all-day securities trading will provide more avenues for participants to invest, hedge and arbitrage their investments.
As for Indonesia Stock Exchange (JSX), JSX is seeking approval from the country’s regulators to begin market trading hours an hour earlier around this month to align itself with other Asian markets.
Once trading is continuous all day, Singapore Exchange (SGX) member firms will offer retail investors various ways to execute orders.
These include online trading services, the use of central dealing desks, and the use of mobile technology by trading representatives to execute orders when they are off-premises.
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