Singapore Exchange to trade without lunch break

Singapore Exchange said trading would be continuous trading from 9am to 5pm on Monday to Friday

The Singapore Exchange (SGX) said it will scrap the 90-minute lunch break for trading from 1 August 2011 to help investors respond to regional market movements and news flow.   

It said trading would be continuous trading from 9am to 5pm 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 1st March, but that needed regulatory approval and the exchange wanted to give the market more time to adapt.

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HDFC Mutual Fund unveils 92 days fixed maturity plan

HDFC Mutual Fund new issue closes on 5th July

HDFC Mutual Fund has launched HDFC FMP 92D July 2011 (1), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 92 days.

The new issue closes on 5th July. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.

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HDFC Mutual Fund introduces 370 days fixed maturity plan

HDFC Mutual Fund new issue closes on 6th July

HDFC Mutual Fund has launched HDFC FMP 370D July 2011 (1), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 370 days.

The new issue closes on 6th July. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.

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