MANILA, Oct 3 (Reuters) - Trades at the Philippine Stock Exchange will be extended by an hour beginning Monday, part of a two-phase programme by the bourse as it prepares to link up with other Southeast Asian markets.
Trading will now run up to 1:00 p.m. [0500 GMT] in the local bourse, which has one of the shortest trading sessions in Asia. Previously, the stock market was open only for 2-1/2 hours, from 9:30 a.m. up to 12 noon [0130 to 0400 GMT], excluding a 10-minute run off period.
Trading hours will be stretched further from January 2, 2012 with trading to run up to 3:30 p.m. [0730 GMT], including a break from 12pm to 1:30 p.m. [0530 GMT].
Philippine stocks have fallen about 5 percent this year, mirroring falls in other regional equities markets, as concerns over the European debt crisis and a faltering U.S. economy prompt investors to trim risky investments in emerging markets.
Cross-border trading among Southeast Asian markets is set to be launched in March 2012. The Thai bourse , Singapore Exchange , Bursa Malaysia and the PSE are currently working to set up a regional trading network.
The 10-member Association of Southeast Asian Nations plans to transform itself into a unified trading bloc with free flow of capital by 2015.
The region also includes Indonesia, Cambodia, Brunei Darussalam, Laos, Myanmar and Vietnam. (Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)
Source: Yahoo
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