The Singapore Exchange (SGX) today said it will scrap the 90-minute lunch break for trading from August 1 to help investors respond to regional market movements and news flow.
It said trading would be continuous trading from 9 am to 5 pm on Monday to Friday, making the local bourse more competitive with its Asian rivals, including the Hong Kong Stock Exchange, which expanded its trading hours earlier this year.
The Korea Exchange, India's National Stock Exchange and Australian Securities Exchange were already trading without breaking for lunch, while international exchanges such as the New York Stock Exchange, Nasdaq and London Stock Exchange operate continuous trading sessions.
The Tokyo Stock Exchange was also planning to increase its trading hours to attract more investors, noted the SGX. "Continuous all-day trading will offer all investors more opportunities to trade and manage their risks," said SGX CEO Magnus Bocker.
Singapore would make further progress as an international financial hub by embracing trading hours which are aligned with those of other key markets, he said.
The SGX had first mooted scrapping the lunch hour from March 1, but that needed regulatory approval and the exchange wanted to give the market more time to adapt.
