Asian Stock Market Index Performance 2012

             Country        % Gain / Loss in 2012

1.  India                         +25.19%
2.  New Zealand            +23.67%
3.  Philippines               +23.10%
4.  Japan                        +21.44%
5.  Hong Kong              +20.02%
6.  Singapore                 +17.81%
7.  Australia                  +12.26%
8.  Indonesia                 +11.89%
9.  Malaysia                  +11.59%
10.  Taiwan                     +10.75%
11.  South Korea             +9.35%
12.  China                        +4.60%   
    

Trading Hours on Christmas's Eve and New Year's Eve

Trading Hours on Christmas's Eve 2012
and
New Year's Eve 2012

Stock Exchange	Closing Hour (at local time)
Australia	Closed at 2.10 pm (Sydney time,GMT + 10) on Christmas Eve  and New Year Eve (Dec.31)
China	Trading as usual on Christmas Eve   and New Year Eve (Dec.31)
Hong Kong	Closed at 12:30 pm (GMT + 8) on Christmas Eve   and New Year Eve (Dec.31)
India	Trading as usual on Christmas Eve    and New Year Eve (Dec.31)
Indonesia	Closed on Christmas Eve and New Year Eve (Dec. 31)
Japan	Closed on Christmas Eve and New Year Eve (Dec. 31)
Malaysia	Trading as usual on Christmas Eve  and New Year Eve (Dec.31)
New Zealand	Closed at 12:45 pm (GMT + 12) on Christmas Eve   and New Year Eve (Dec. 31)
Philippines	Closed on Christmas Eve and New Year Eve (Dec. 31)
Singapore	Closed at 12:30 pm (GMT + 8) on Christmas Eve   and New Year Eve (Dec.31)
South Korea	Trading as usual on Christmas Eve but no trading on New Year Eve (Dec. 31)
Taiwan	Trading as usual on Christmas Eve  but no trading on New Year Eve (Dec. 31)
Thailand	Trading as usual on Christmas Eve   but no trading on New Year Eve (Dec. 31)
Vietnam	Trading as usual on Christmas Eve  but no trading on New Year Eve (Dec. 31)

The Stock Exchange of Thailand joins ASEAN Trading Link

The Stock Exchange of Thailand (SET) became the third member to connect to the Asean Trading Link on Monday. This is about one month later when Bursa Malaysia and Singapore Exchange (SGX) officially launched the Asean trading link (ATL) on Sept. 18, 2012.

Asean comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

ASEAN Exchanges consist of seven members, the countries are SGX (Singapore Stock Exchange, Singapore), Bursa (Malaysia Stock Exchange, Malaysia), SET (Stock Exchange of Thailand, Thailand), the JKSE (Jakarta Stock Exchange, Indonesia), the PSE (Philippine Stock Exchange, Philippines), the HOSE (Hochiminh Stock Exchange, Vietnam). 

"For the first time ever, with Bursa Malaysia, Singapore Exchange and now The Stock Exchange of Thailand connected, investors now have a single entry-point access to three of the largest equity markets of Asean," said Mr Charamporn Jotikasthira, the president of The Stock Exchange of Thailand (SET).

"Together the three markets offer investors easier access to over 2,200 listed companies with a market value of US$1.4 trillion (S$1.7 trillion), which accounts for nearly 70 per cent of the total market capitalization of Asean," he added.

"We're going from one link to three links. Now it's SGX-Bursa, Bursa-Thailand, Thailand-Singapore .... Today, 31 brokers from across Malaysia, Singapore and Thailand - including the five biggest regional brokers - are connected on the Asean Trading Link (ATL). These brokers can now offer investors seamless access across the connected ASEAN markets. In time, this infrastructure could beget more liquidity, benefiting investors and markets of this region.... The value of each becomes so much more."  said Mr. Magnus Bocker, the chief executive officer (CEO) of Singapore Exchange.

How the trade is done? For example, to trade Thai shares,  Singapore investors who wants to buy Thai shares will place their orders through their local broker. The order goes directly into the Singapore Exchange(SGX) via the Asean Trading Link (ATL) instead of having to be routed to another broker in Thailand.
 
The ATL would eventually include the bourses of Vietnam, Indonesia and the Philippines in an effort to raise the profile of Asean as a highly-investable asset class.

The link to the other exchanges are expected to follow in the coming months or early next year.

The ASEAN Exchanges, a collaboration of the seven stock exchanges of ASEAN, also unveiled an website www.aseanexchanges.org  - which now provides aggregated Asean market data and analytics in a single location allowing investors to view the performance of the seven ASEAN exchanges individually as well as providing a single, integrated view of the ASEAN market. 

"The ASEAN Exchanges website can do what geography cannot - let the world see the ASEAN capital market in a single page." said Hans B Sicat, president and chief executive officer of The Philippine Stock Exchange (PSE).
 
A FTSE/Asean Indices Weekly Report will also be made available on the above-mentioned website.
The website is built around 180 Asean blue-chip stocks which represent the 30 most exciting companies of each Asean country as ranked by investability in terms of market capitalization and liquidity.

"ASEAN Exchanges has made significant progress in meeting several key milestones in our effort to promote the integration of the ASEAN capital market....We are focused on delivering on our four implementation pillars which are: driving cross border collaboration; streamlining access to Asean; creating Asean-centric products and implementing targeted promotional initiatives," said Mr. Ito Warsito, the chief executive officer (CEO) of Indonesia Stock Exchange.

China Market will be closed for a long holidays

China Market will be closed from October 1st (Monday) to October 5th (Friday) to celebrate long National Day holidays.

Although mainland China is celebrating super long 5-days holidays but Hong Kong is celebrating on Oct. 1 (for Mid-Autumn / Moon Festival, a day in lieu of Sept. 29 and 30) and Oct. 2 (National Day, a day in lieu of Oct.1)

SGX Singapore and Bursa Malaysia are expected to link on Sept 18

[Singapore] Singapore Exchange (SGX) and Bursa Malaysia are expected to link their stock exchanges on Sept. 18 as the full system testing has already been completed under the Asean Trading Link (ATL).  Investors should be able to trade all-stocks through the ATL. Originally, it was planned to be ready by end-June, but system testing are only fully tested recently.

SGX-Bursa was previously connected through the Central Limit Order Book (CLOB). CLOB was an over-the-counter (OTC) market set-up in Singapore in 1990 but was suspended abruptly after the 1998 Asian financial crisis. Singapore investors' were obviously stunned of this sudden frozen of their equities around September 1998. During 1998, if I remembered correctly, Malaysia ex-PM Mahathir shocked and stunned Singapore's shares investors by putting the 'death' of 8-years old CLOB International forcing the SES (now it known as SGX) to shut down the CLOB market for Malaysian shares, leaving in limbo shares close to S$5 billion held by more than 160,000 investors. Although many migration of frozen shares was transferred and completed by broking houses to help their clients around year 2000 but the pains of going through these processes was quite traumatic time for these investors. So, these Singapore investors were left with a rather traumatic and unforgettable experience when KL, Malaysia ordered all Malaysian-listed companies in Singapore be delisted from SES (Singapore Stock Exchange), so I think it will take some times for them to get over the 'old-injuries'. I think initial take-up likely to be slow. I really don't know? We'll see  when SGX Singapore and Bursa Malaysia resume their trading links on Sept. 18. 2012 (Tuesday). 

The ATL plans to connect seven bourses across six countries in the region, involving some 3,600 public-listed firms with a combined market capitalisation of US$2 trillion.

The ATL would eventually include the bourses of Vietnam, Indonesia and the Philippines in an effort to raise the profile of Asean as a highly-investable asset class.

SGX and Bursa Malaysia will be the first two stock exchanges to connect on the ASEAN Trading Link (ATL), followed by the Stock Exchange of Thailand (SET). 

The link to Stock Exchange of Thailand (SET) is set to go online sometime in October. Actual date is not available yet. Once that is up, investors from Singapore and Malaysia can buy Thailand's shares directly from their local brokers.

For instance, a Singapore investor who wants to buy Thai shares will place their orders through a local broker. The order goes directly into the SGX via the Asean Trading Link(ATL) instead of having to be routed to another broker in Thailand.

The link to the other exchanges are expected to follow in the coming months.
 
SGX said it will introduce new rules that will allow market players to have direct access to its securities trading system. SGX is also introducing new rules on the participation criteria and compliance requirements for its members in relation to the ASEAN Trading Link (ATL). The new rules will take effect on 18 September 2012.

Asean comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Philippines, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

ASEAN Exchanges consist of seven members, the countries are SGX (Singapore Stock Exchange, Singapore), Bursa (Malaysia Stock Exchange, Malaysia), SET (Stock Exchange of Thailand, Thailand), the JKSE (Jakarta Stock Exchange, Indonesia), the PSE (Philippine Stock Exchange, Philippines), the HOSE (Hochiminh Stock Exchange, Vietnam). 

The idea to allow seamless trading among Southeast Asia's bourses came up about four years ago as ASEAN sought to attract portfolio investors drawn to the larger Asian markets of China and India.

The start of the Singapore-Malaysia electronic trading link will mark the first key milestone  towards breaking down the barriers to cross-border trade in Southeast Asia. Brokers are required to pay some cost to connect the trading link.

Through the trading link, investors in Asean will enjoy a new ease of access to a wider investment selection as well as tap the region's growth opportunities.

Hari Raya Puasa (Eid-ul-Fitri) Holiday

Following stock exchanges will be closed on August 20, 2012 (see table below) to celebrate Hari Raya Puasa / Aidilfitri (Eid-ul-Fitri). Hari Raya literally means ‘celebration day’. Hari Raya Puasa is considered one of the two most important celebrations for Muslims, the other being Hari Raya Haji. (will be celebrated on Friday, Oct. 26, 2012).

This is the day where Muslims celebrate the conclusion of dawn-to-sunset fasting during the entire month of Ramadan / Islamic holy month of fasting. Muslims around the world celebrate this significant occasion to show a common goal of unity. This is one of the biggest holidays for Muslims to balik kampung / pulang (go home for people who are working far away), they will drive, take a train or flying home for a couple of days before the festive to be with their families and loved ones.

The celebration is determined by the appearance of the new moon. Hari Raya Aidilfitri is commonly referred as Hari Raya Puasa or just Hari Raya. It is a ecstatic occasion for the Muslims all over the world as it evidences a personal jubilation and accomplishment, a moral victory of self-control and abstinence from drink, food, smoking and sex during the day light hours.

Stock Exchange	Hari Raya Puasa Holiday
India	August 20, 2012  (Mon.)
Indonesia	August 20 to 22, 2012  (Mon. to Wed.)
Malaysia	August 20 to 21, 2012  (Mon. to Tues)
Philippines	August 20, 2012  (Mon.)
Singapore	August 20, 2012  (Mon.)

Stock Exchange of Thailand (SET) announces trading rules adjustment

The Stock Exchange of Thailand (SET) is adjusting its ceiling and floor prices, improving the calculation of opening and closing prices and increasing categories of market orders.

Details of the adjustments are as follows:

1 Ceiling and floor prices: To increase convenience for investors and broker members in coping with international standards, on their first trading day, the ceilings and floors of IPO prices and warrants, derivative warrants (DWs) and transferable subscription rights (TSRs) have to move in symmetric price bands.

For equities and investment units, the ceiling will be set at 300 per cent of IPO price, while the ceiling for warrants, DWs and TSRs must be no more than double the previous closing price of their underlying security multiplied by the exercise ratio. Floors of all mentioned securities must be no lower than Bt0.01.

2 Opening and closing prices: The opening and closing prices will be those which yield the highest volume of trading. But if there is more than one price, the new system features a more precise searching mechanism to seek the price that more accurately reflects supply and demand.

3 Market orders: Market orders will be divided into categories in order to meet various demands from investors, such as special market orders, market orders and market-to-limit orders. For instance, in market orders, bids and offers are matched by the trading system at market prices, and any unmatched orders left will be automatically cancelled.

4 Order amendments: the bid amount can be reduced before the trading system matches the bid with an offer without losing the bid's place in the queue. Previously, an investor had to cancel and resubmit the bid. However, this amendment doesn't apply to increasing the bid amount. 

Click on the SET website www.set.or.th for more details.

Singapore Exchange toughens rules to lure big listings

SINGAPORE - Singapore Exchange Ltd (SGX) is toughening its listing rules for initial public offerings (IPOs) to woo bigger brand name companies to list on its bourse.
 
"The new rules would allow the city-state to capitalise on the anticipated explosion in stock market launches coming to Asia in the next decade given the region's economic rise." said Singapore Exchange (SGX) chief executive Magnus Bocker.

By imposing more stringent admission rules, the bourse hopes investors will be convinced of the veracity and viability of the companies who are allowed to list, making the IPO a safer bet for them.

Under the new rules, to take effect on August 10, companies looking to list must have a market capitalisation of at least S$150 million based on the issue price if the firm have made a profit in its latest financial year and have an operating track record that stretches back at least three years.

The issuers must have operated for at least three years and recorded a minimum consolidated pre-tax profit of S$30 million for the latest financial year.

Firms with a shorter operating track record must have a market capitalisation of at least S$300 million based on the IPO issue price. All companies are also required to price their shares at a minimum of S$0.50 each.

The SGX, whose year has been marked by the delay of an up to S$3 billion listing by Formula One motor racing and the loss of football club Manchester United's IPO to New York, said the tighter rules would make it more attractive for larger firms to go public in Singapore.

Despite the loss of the high-profile Manchester United listing, SGX Chief Executive Magnus Bocker said there were no plans to make listing rules more flexible to accommodate sports teams or football clubs.

As Bocker told a press conference, "There is no way we will compromise the integrity of our market for any brand."

The English Premier League powerhouse is expected to raise $300 million in New York this month, where it will be allowed to have a dual-class structure of shares.

Singapore Exchange, LSE sign cross-trading agreement

SINGAPORE, July 11 (Reuters) - Singapore Exchange and London Stock Exchange said on Wednesday they have signed a memorandum of understanding to enable cross-trading of some of their largest and most actively traded securities.

Under the Agreement, SGX members will be able to trade FTSE100 securities on the Singapore bourse's GlobalQuote Board. LSE members will get to buy and sell 36 securities of Singapore's indices on the London exchange's newly-created International Board.

The proposed collaboration will occur in stages. Subject to regulatory approvals, the SGX securities will be quoted on LSE by early next quarter while the LSE securities will be quoted on SGX's GlobalQuote by the first half of 2013.

Source : Reuters

Tokyo and Osaka exchanges merger approved

Japan's Fair Trade Commission has approved the merger of Tokyo Stock Exchange (TSE) and Osaka Securities Exchange (OSE). However, the merger is still subject to approvals from the respective shareholders of the two bourses. The shareholders of the two bourses may meet this autumn or near the end of the year to vote on the merger.

The objective of this merging is to make TSE and OSE as Tokyo’s trading center for large corporations like Sony and Toyota, with Osaka’s strength in derivatives-trading. Following the approval, TSE will takeover of the smaller Osaka Securities Exchange (OSE) under the terms announced in November 2011.

The new tentative name for their merger is 'Japan Exchange Group'. If approved from shareholders of TSE and OSE, the two exchanges are scheduled to merge on early January 2013 and it will close much of the gap between Japan’s stock market and Nasdaq, ranked currently second in the world.

Once completed, it will create the world's third-largest and Asia's largest stock exchange.

The move comes as demand for new share sales in Japan has been falling amid an overall slowdown in its economy. Japan's growth has been slowing in recent years and it lost its position as the world's second largest economy to China last year. The slowdown in its economy has also resulted in a decline in the number of companies looking to list on stock exchanges in Japan.

Singapore Exchange (SGX) ready to trade yuan securities

Singapore - Singapore Exchange (SGX) announced on Friday it is ready to list, quote, trade, clear and settle securities denominated in Chinese yuan or Renminbi (RMB) to capitalise on the rapid growth of the offshore yuan market.

The initiative enhances opportunities for issuers and investors keen to participate in the internationalization of the RMB and the robust Chinese economy. SGX’s addition of RMB securities trading complements the offshore RMB bonds already listed on the exchange. Singapore Exchange (SGX) is also the world’s first exchange to offer the clearing of OTC FX forwards for RMB.

Issuers listing RMB securities on Singapore Exchange (SGX) can also choose to offer dual currency trading, giving their investors the flexibility to trade the security either in RMB or Singapore dollars.

“SGX, as the Asian Gateway, is committed to being the exchange of choice for issuers with RMB fund-raising needs and for investors who are keen to participate in the China growth story. The listing and trading of RMB securities on SGX will also extend Singapore’s position as an offshore RMB centre,” said Mr Magnus Bocker, CEO of Singapore Exchange (SGX).

The initiative expands the suite of foreign currencies supported by the Singapore Exchange (SGX), which currently includes the Australian dollar, Hong Kong dollar and the U.S. dollar.

Property firm ARA Asset Management Ltd had been planning to list a yuan-denominated real estate investment trust (REIT) in Singapore, sources told Reuters in March. But a first yuan-denominated IPO for the city-state is yet to come to the market.

HK bourse joint venture with China stock exchanges

HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEx), Shanghai Stock Exchange (SHSE) and Shenzhen Stock Exchange (SZSE) signed an agreement yesterday (Thursday) to establish a joint venture (JV) in Hong Kong with an aim to develop financial index-linked and equity derivative products, such as exchange-traded funds(ETF) and related services. The Joint Venture will have an initial paid-up capital of HK$300 million, with HKEx, SHSE and SZSE each contributing HK$100 million (US$12.9 million).

The new company will develop a series of benchmark stock indexes covering big Chinese companies listed on the three exchanges based on products that can be traded on all three exchanges and are expected to be launched by year end. By the way, dozens of Hong Kong-listed Chinese companies, known as H shares, are already listed in Shenzhen or Shanghai with A-share stocks.

Hong Kong Exchanges has been seeking to expand its status as China's international bourse, diversifying beyond stock trading and initial public offerings in recent years.

Hong Kong is a Special Administrative Region (SAR) of China with its own financial system and currency. There has been little cooperation between stock markets in Hong Kong and the mainland until now.

Click on the HKEx website www.hkex.com.hk for more details.

Dragon Boat Festival Holiday in Asian Countries

In China, it is known as the Duan Wu Jie ( Jie in Chinese means festival), but in  Hong Kong, it is known as the Tuen Ng Jit (literally translated in local Cantonese language).

Dragon Boat Festival or Duan Wu Jie is a Chinese festival celebrated on the fifth day of the fifth month based on Chinese calendar. Therefore, it also known as the 'Double Fifth Festival'.

This day is celebrated to commemorate the death of Qu Yuan in 287BC. Qu Yuan is a legendary Chinese patriotic poet who drown himself out of sadness when his home state fallen to a conqueror’s hand who is very corrupted.

In the past, Chinese rice dumplings largely made of glutinous rice was originally made and thrown into the river to prevent fishes from eating the body of Qu Yuan. Glutinous rice supposed to be a hard to digest food. So people hopes the fishes will get 'full feeling' and not eating the body of Qu Yuan.

Today, no rice dumplings are throw into the river instead dragon boats racing are organized to make heavy drum beating to scare away the fishes. Hence, it is also known as Dragon Boat Festival.

Nowadays, Chinese prepare the rice dumplings as a delicacy, typically made of glutinous rice, pork meat, duck yoke, chestnuts, spicy powders and many varieties which made this festival more like a 'Chinese Dumpling Festival'. The focus of the celebrations includes eating rice dumplings and racing dragon boats.

By the way, this year, the actual day for Dragon Boat Festival should be on June 23 (Saturday) but China and Hong Kong celebrated one day ahead as a holiday except Taiwan which stick on the actual day. (see table below)

The festival has also celebrated by the local Chinese in Singapore, Malaysia and Vietnam but it is not an official holiday there.

Asian countries celebrating Duan Wu Jie / Dragon Boat Festival  this week are shown below.

Stock Exchange	Dragon Boat Festival
China	June 22 (Friday)
Hong Kong *	June 23 (Sat.)
Taiwan *	June 23, 2012 (Sat.)

* Although it is an official holiday in Hong Kong and Taiwan, but they never bring it one day ahead except China.

Indonesia to move to single time zone so as to match Singapore and Malaysia Clock

JAKARTA - According the Indonesia’s trade ministry in a statement on Wednesday.  Indonesia plans to switch to a single time zone on Oct. 28, allowing Southeast Asia’s biggest economy to align clocks same as Singapore and Malaysia if slow-moving bureaucracy does not prevent it from doing so. The committee, which is chaired by President Susilo Bambang Yudhoyono, had proposed that the change take effect at mid-night on Saturday, when business is usually low, before deciding on Oct. 28, a Sunday.

The Indonesian archipelago now has three time zones and Jakarta lies in the western time zone, which is one hour behind Asean neighbours like Singapore, Malaysia, Taiwan, China, Hong Kong and Philippines. Jakarta’s clocks are two hours behind cities in eastern Indonesia like Fakfak and Papua.

The change will put Indonesia eight hours ahead of Greenwich Mean Time (GMT). Currently, Jakarta is seven hours ahead of GMT which is GMT+7 (Same time zone with Thailand and Vietnam).
 
The move will help accelerate economic development across the country. After the change in clocks, Indonesia’s stock market will open 30 minutes after bourses in Singapore and Malaysia, from 90 minutes at present.    

“The benefit will be in synchronized trade and financial transactions with regional markets.” said Mr. Anton Gunawan, chief economist at PT Bank Danamon Indonesia.

A unified time zone will help improve communication and productivity of Indonesia’s bureaucracy and help the spread of information through medium such as television broadcasts, also it will spur foreign exchange trading and tourists will find it more convenient to travel within a country that operates on one time zone instead of three.

Singapore Exchange launches MSCI Indonesia equity futures from June 11, 2012

Singapore Exchange Limited (SGX) said on Tuesday that it will launch the world's first offshore Indonesia Index Futures from 11 June 2012.

This new contract will be based on the MSCI Indonesia index which is a widely followed Indonesian benchmark for institutional investors.

"SGX currently offers the widest suite of Asian equity index derivatives. We are confident that the SGXMSCI Indonesia Index Futures provides a unique value proposition to regional and international investors from both portfolio and risk management perspectives," said Mr Michael Syn, Head of Derivatives at SGX.

SGX has launched a string of equity derivative contracts in recent years, including popular ones tracking Japan's Nikkei 225 index and the Taiwanese stock market. Others though, such those tracking the Hong Kong and European stock markets have struggled to attract as much volume.

For the Indonesian contract, SGX has signed up three market makers: Barclays PLC , Credit Suisse and Amsterdam-based firm Optiver to provide both on screen and off screen liquidity. The contract will begin trading on June 11.

For more information, please visit www.sgx.com.

HKEx to tighten short-selling rules on 3 July 2012

The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), Asia's biggest bourse operator, said it will implement changes to the short selling criteria for designated securities available for short selling to reflect development in the securities market following a review conducted earlier this year.
 
As a result of the review, the eligibility criterion related to the market capitalization and turnover velocity will be increased from $1 billion to $3 billion and from 40 per cent to 50 per cent respectively.   
Therefore, Stocks eligible for short-selling must have a market capitalization of HK$3 billion from July 3, up from HK$1 billion now, the Hong Kong Exchanges and Clearing Limited (HKEx) said on Thursday.

The change reflects the fact that the average market capitalization of listed companies in Hong Kong has grown by around three times and the market turnover velocity has increased from around 40 per cent to over 50 per cent in the past decade.

Had the new short selling eligibility criteria been adopted in the last quarterly review in April this year, 82 out of the existing 646 designated securities would have become ineligible for short selling.

The new Regulation for short selling eligibility criteria has been approved by the Securities and Futures Commission and will take effect on 3 July 2012 (Tuesday).  

Investors and Exchange Participants may refer to Regulation 18 of the Eleventh Schedule of the Rules of the Exchange available on the HKEx website www.hkex.com.hk for more details. 

Singapore Exchange and Bursa Malaysia to link stock exchanges in end July 2012

Singapore Exchange (SGX) and Bursa Malaysia (Bursa) are expected to link their stock exchanges around end of July or early August this year as the finishing touches are yet to be put in place to connect the region's bourses under the Asean Trading Link (ATL).  Originally, it was planned to be ready by end-June, but full system testing are expected to be completed by end July.

The ATL plans to connect seven bourses across six countries in the region, involving some 3,600 public-listed firms with a combined market capitalisation of US$2 trillion.

The ATL would eventually include the bourses of Vietnam, Indonesia and the Philippines in an effort to raise the profile of Asean as a highly-investable asset class.

Bursa Malaysia, Singapore Exchange (SGX) and Stock Exchange of Thailand (SET) would be the first to establish the link as the combined market capitalization of their listed companies accounts for 70 per cent of Asean's total valuation.

Asean comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Philippines, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

ASEAN Exchanges consist of seven members, the countries are SGX (Singapore), Bursa (Malaysia), SET (Thailand), the Jakarta Stock Exchange (Indonesia), the Philippine Stock Exchange (Philippines), the Hochiminh Stock Exchange and the Hanoi Stock Exchange (Vietnam). 

The idea to allow seamless trading among Southeast Asia's bourses came up about four years ago as ASEAN sought to attract portfolio investors drawn to the larger Asian markets of China and India.

Speaking on behalf of ASEAN Exchanges, SGX Chief Executive Officer (CEO) Magnus Bocker said the start of the Singapore-Malaysia electronic trading link will mark the first key milestone  towards breaking down the barriers to cross-border trade in Southeast Asia.

'Through the trading link, investors in Asean will enjoy a new ease of access to a wider investment selection as well as tap the region's growth opportunities,' he added in the statement, at the conclusion of the 16th Asean Exchanges CEOs meeting here.

Labour Day Holiday

Labour Day Holiday

 on May 1, 2012 (Tuesday)

Stock Exchange	Labour Day
China	Closed
Hong Kong	Closed
India	Closed
Malaysia	Closed
Philippines	Closed
Singapore	Closed
South Korea	Closed
Taiwan	Closed
Thailand	Closed
Vietnam	Closed

Good Friday Holiday in Asian Market

Good Friday Holiday

 on April 6, 2012

Stock Exchange	Good Friday
Australia	Closed
Hong Kong	Closed
India	Closed
Indonesia	Closed
New Zealand	Closed
Philippines	Closed
Singapore	Closed

Qing Ming Festival Holiday

Qingming / Qing Ming Festival  (清明节) is a popular festival celebrated in China, Taiwan and Hong Kong. Although there are a lot of Chinese lived in Singapore and Malaysia but is not an official holiday there.

The Qingming Festival is held on the first day of the fifth month in the 'Chinese or Lunar' calendar.

Qingming / Qing Ming Festival  (清明节) is literally translated as 'Clear Bright Festival' [ 清(pronounced as Qing) means clear,明(pronounced as Ming) means bright,节(pronounced as Jié] means Festival.]

It's also known as Tomb Sweeping Day because Chinese people visit the burial grounds, tombs or graves of their ancestors to pay their respect.

Asia countries celebrating Qing Ming Festival  (清明节) next week are shown below.

Stock Exchange	Qing Ming Festival  (清明节) Holiday
China	April 2 - 4, 2012  (Mon. to Wed.)
Hong Kong	April 4, 2012 (Wed.)
Taiwan	April 4, 2012 (Wed.)

Vietnam Stock Exchange will extend trading hours from March 5

The original plan of trading hour extension to afternoon session for HoChiMinh Stock Exchange (HOSE) will be launched  on March 5, 2012(first Monday of the month).

HoChiMinh Stock Exchange will extend the trading hours in its securities market as follows:

Trading Session	Current	Effective March 5, 2012
Morning Session	08:30am - 11:30am	09:00am - 11:30am
Mid-day break	closed	11:30am - 01:00pm
Afternoon Session	closed	01:00pm - 02:15pm

The total trading time of two hours and a half in the morning for opening order-matching, continuous order-matching and put-through transactions will remains unchanged. 

The reason to extend the trading hours so as to be in line with the regional standard practices as are in China, India, Indonesia, Taiwan, Philippines, New Zealand, etc. With this in view, it is expected to make continuous order-matching in afternoon sessions longer in attempt to strengthen market liquidity.

Also, the plan suggests no newly-placed orders, amendment and cancellation of matched orders as well as put-through advertising and settlement during the mid-day trading break. 

Additional regulations will also be imposed namely all-day trading price band, determination of reference price, order cancellation and amendment.
 
Also according to Vu Bang, Chairman of the State Securities Commission, the Ho Chi Minh City Stock Exchange, the nation's main bourse, and the Hanoi Stock Exchange will likely to be merged in early 2013 if the plans to merge are approved by the government in the third quarter.

Change of Hong Kong Exchanges trading hours on March 5, 2012

With effect from March 5, 2012 (first Monday of the month). There will be a change of mid-day break in the Hong Kong Exchanges and Clearing Limited (HKEx) which will now last between 12pm and 1pm (new) instead, and the afternoon trading session will be from 1:00 pm until 4:00 pm (new) instead of 1:30pm to 4pm (old). (see table below)

HKEx will extend the trading hours in its securities market as follows:

	Current	Effective March 5, 2012
Pre-opening Session	09:00am - 09:30am	Same as Current
Morning Session	09:30am - 12:00am	Same as Current
Mid-day break	12:00pm - 13:30pm	12:00pm - 1:00pm
Afternoon Session	1:30pm - 4:00pm	1:00pm - 4:00pm

Trading in HKEx’s derivatives markets and the auction sessions of the securities and derivatives markets will also start earlier from March 7, 2012.  

More on  www.hkex.com.hk.

BSE launches Greenex, India's first energy efficient index

Today, Asia's oldest exchange, Bombay Stock Exchange launched India's first carbon efficient index to measure the performance of companies in terms of carbon emissions, aiming to provide a benchmark for socially aware investors.  

This index will enable investors take more timely and informed investment decisions about companies in the energy intensive sectors. 

The BSE-GREENEX index will have 20 companies selected from the BSE-100 index, and it will gives equal weight-age to both energy efficiency and profitability.  It should help institutional and retail investors to evaluate a particular stock on the basis of the amount of money these firms save by being energy efficient.

This 20-share BSE-GREENEX includes some of India's leading companies such as Tata Motors , Tata Steel , ICICI Bank , Larsen & Toubro , Housing Development Finance Company , Reliance Infrastructure , Dr Reddy's Laboratories and DLF .

This is the second theme based index launched by BSE after the Shariah index.

The index can be used to develop green financial products including mutual funds, exchange-traded funds and structured products, the BSE said.

Vietnam stock exchange delays extension of trading hours till further notice

The original plan of trading hour extension to afternoon for HoChiMinh Stock Exchange (HOSE) which is expected to take effect on February 20, 2012 (Monday) is delayed for one or few more weeks. According to sources, the extension of trading hours in the afternoon session will likely to begin on March 5, 2012 (Monday).
 
According to the chairman of  State Securities Commission, they are still waiting for final approval.
Chairman Bang said although all the technical issues related to the extension had been addressed but the concern of the liquidity in the market is still low and the increase of trading volumes may not meet the expectation at this moment.

Once approved, the morning sessions will open at 9:00AM (GMT+7) instead of 8:30 AM (currently) to 11:30AM (GMT+7) and close for lunch break from 11:30AM (GMT +7) to 1:00PM (GMT+7). 

The afternoon sessions will open at 1:00PM (GMT+7) and close at 2:30 PM (GMT+7) including continuous order-matching (1:00PM to 2:00PM), closing order-matching (2:00PM to 2:15PM) and negotiated transactions (1:00PM to 2:30PM). 

The total trading time of two hours and a half in the morning for opening order-matching, continuous order-matching and put-through transactions will remains unchanged. 

The reason to extend the trading hours so as to be in line with the regional standard practices as are in China, India, Indonesia, Taiwan, Philippines, New Zealand, etc. With this in view, it is expected to make continuous order-matching in afternoon sessions longer in attempt to strengthen market liquidity.

Also, the plan suggests no newly-placed orders, amendment and cancellation of matched orders as well as put-through advertising and settlement during the midday trading break. 

Additional regulations will also be imposed namely all-day trading price band, determination of reference price, order cancellation and amendment.

Hong Kong Bourse to Offer Volatility Index Futures

Hong Kong Exchanges & Clearing Ltd. will begin offering futures tracking the HSI Volatility Index (VHSI) of options prices today.

Futures (VHSH2) on the benchmark, which tracks expected equity- market volatility over the next 30 days, are the first of their kind based on an Asian market, according to Calvin Tai, head of trading at the Hong Kong exchange.

The Osaka Securities Exchange Co. will begin offering futures on Japan's Nikkei Stock Average Volatility Index (VNKY) on Feb. 27, according to the bourse.

Volatility index futures have been trading in the U.S. since 2004 and Europe since 2005. The products were created as alternatives to so-called variance swaps, derivatives in which investors take a position on how much a stock or index will move with a bank or dealer instead of via a public exchange...


More on Bloomberg

Two SGX futures contracts now tradeable in U.S.

SINGAPORE, Jan 30 (Reuters) - Singapore Exchange Ltd said investors in the United States can now directly trade two of its futures contracts from within the country.

The U.S. Commodity Futures Trading Commission certified on Friday that the FTSE China A50 and MSCI Asia APEX 50 futures contracts may be offered and sold to individuals in the U.S., the Singapore bourse operator said in a statement on Monday.

The FTSE China A50 futures is the only offshore contract that provides exposure to China's domestic A-shares market, while the MSCI Asia APEX 50 is a proxy to the broader MSCI AC Asia ex Japan Index, it said.
(Reporting by Charmian Kok; Editing by Anshuman Daga)

Source: Yahoo

Holidays on Chinese / Lunar New Year

Chinese / Lunar New Year 2012 (Chun Jie / 春节 2012) is the 'Year of Dragon' and it will be celebrated starting from new year eve. Since this year Chinese new year's eve falls on Sunday (Jan. 22, 2012), therefore actual holiday will start from Monday, 23 January 2012.
Although the festival will last for 15 days (till the 6 February 2012) but the Asian countries (shown below) will be celebrated their holiday(s) differently. 

Holidays

on Chinese New Year

Stock Exchange	Holidays
China	Will be closed from Jan. 23 to 27 (Mon. to Fri.)
Hong Kong	Will be closed from Jan. 23 to 25 (Mon. to Wed.)
Indonesia	Will be closed on Jan. 23 (Mon.)
Malaysia	Will be closed from Jan. 23 to 24 (Mon. to Tues.)
Philippines	Will be closed on Jan. 23 (Mon.)
Singapore	Will be closed from Jan. 23 to 24 (Mon. to Tues.)
South Korea	Will be closed from Jan. 23 to 24 (Mon. to Tues.)
Taiwan	Will be closed from Jan. 23 to 27 (Mon. to Fri.)
Vietnam	Will be closed from Jan. 23 to 27 (Mon. to Fri.)

* Note:
Since Chinese (Lunar) New Year is not an official holiday in some Asians' countries like Australia, India, Japan, New Zealand and Thailand. Therefore, trading hours will be traded as usual on Chinese (Lunar) New Year for these countries unless this day falls on weekend.

Philippine stock exchange extends trading hours on Jan. 2, 2012

The Philippine bourse, which closed on last Friday, was Asia's best-performing market last year with about 3.72 percent gain on year-to-date (YTD).

Starting today, daily trading hours at the Philippine Stock Exchange will be extended till 3.30pm (was extended to 1.00pm on Oct.3, 2011), this is 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 3:30 p.m. [GMT+8] in the local bourse. Previously, the stock market was open from 9:30 a.m. to 01:00pm, excluding a 10-minute run off period.

Trading hours will be stretched further from today with trading to run up to 3:30 p.m. , the market open remains at 9:30 a.m. with a lunch break from 12pm to 1:30 p.m.

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.

Source: Yahoo