PSE extends trading hours starting January 2
- Zinnia B. Dela Peña () - December 8, 2011 - 12:00am

MANILA, Philippines - The Philippine Stock Exchange (PSE) is extending trading hours further into the afternoon starting Jan. 2, 2012 despite unstable market conditions.

In a notice to its member-brokers and the public, the PSE said it is implementing Phase 2 of the trading hour extension. The morning session will run from 9:30 a.m to 12 noon while the afternoon session will be from 1:30 to 3:30 p.m. The market currently closes at 1 p.m.

Pre-open is at 9 a.m. while pre-close will be at 3:17 p.m., with run-off to begin at 3:20 p.m.

Investor caution has kept global markets subdued ahead of the European Union summit on Friday and the European’s Central Bank’s policy meeting today (Thursday), with market players expecting a rate cut as well as expanded liquidity measures to ease strains in the banking system.

European leaders may decide to raise the combined lending limit of their temporary and permanent bailout funds to help contain the spread of the sovereign debt crisis.

The addition of more trading hours was aimed at boosting trading volumes and matching the hours of other Southeast Asian exchanges.

The Philippines, one of the few equities markets in Asia which has the shortest trading hours in the region, has been planning to extend trading hours as it prepares to link up with other Southeast Asian markets via a regional trading network to be launched in March 2012.

“A bigger window of opportunity is always good in a bear or bull market. It gives more flexibility to investors to react accordingly given any investment climate,” said Astro Del Castillo, managing director at First Grade Holdings Inc.

ASTRO DEL CASTILLO CENTRAL BANK EUROPEAN UNION FIRST GRADE HOLDINGS INC FRIDAY AND THE EUROPEAN HOURS JAN MARKET PHILIPPINE STOCK EXCHANGE SOUTHEAST ASIAN TRADING
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