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