The Philippine Stock Exchange (PSE) approved the extension of trading hours at the bourse to be implemented in two phases starting October explaining the move was timely as the global economy is improving while it is expected to improve liquidity at the Exchange.
The extension was approved by the PSE board in its meeting held last Wednesday. Effective Oct. 1, trading hours will be from 9:30 a.m. to 1 p.m. while on Jan. 1, trading hours will be from 9:30 a.m. to 12 noon and will resume 1:30 to 3:30 p.m. Pre-open is at 9 a.m.
PSE president Hans Sicat said the move will align the PSE with its peers in the region and is a positive signal that the local market is ready to take off.
“Afternoon trading is also expected to boost liquidity as it enhances the ability of investors to react to developments in other markets in a different time zone,” he said.
Value turnover year-to-date is averaging P5.30 billion daily. The PSE index or PSEi reached a new all time high last July 5 at 4,439.61.
“We are cognizant of the benefits of extended trading, and we are also well aware of the challenges that it provides. We are optimistic that with the initiatives we have put in place prior to this move such as a new trading system, introduction of new products to boost volume, regulatory approvals, and more listings and follow-ons, we will be able to enhance investor interest in the stock market,” Sicat said.
He added that this initiative requires the help and participation of all stakeholders and we are grateful for the active support of the trading participants.
Currently, trading in the PSE is a continuous session from 9:30 a.m. to 12:10 p.m. daily.
On Feb. 20, 2002, the PSE has extended trading hours after the Securities and Exchange Commission (SEC) en banc approved the proposal. Based on the new trading schedule, there will be a one-hour market recess from 12 noon to 1 p.m. before trading resumes for an additional one and half hours, or until 2:30 p.m.
In 2008, the PSE has also approved the extension of trading hours upon the launch of a new trading system on or before June 30 next year in line with efforts to boost turnover volume, give foreign investors a bigger window to enter and leave the country’s stock market and put the local bourse at par with other exchanges worldwide. As approved by the PSE board, the local bourse will resume trading from 2 up to 4 p.m. after a two-hour break from 12 noon. –Danessa O. Rivera, Daily Tribune
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
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