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| • EXCH RATES |
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Baht/$ 33.51/56
Bid/Ask
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GOLD |
14,350
+ 350
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STOCKS
NUNTAWUN POLKUAMDEE
The Stock Exchange of Thailand is considering opening a new trading session for online investors from 7 to 9 pm.
Sources said the proposal would be limited to electronic, internet trading only. Changes in share prices and sector indices would be calculated before the start of the next day's morning trading session.
Share trading now runs from 10 am to 12.30 pm in the morning session, and 2.30 pm to 4.30 pm in the afternoon.
The special trading session would likely have reduced price ceilings from normal hours, to limit possible share manipulation. Share prices now are restricted to a maximum gain or fall of 30% from the previous day's closing price.
"A number of western stock exchanges allow for off-hour trading. We will probably allow for a run-off period of 30 minutes to allow for the auto-matching system to complete all transactions," said one SET official.
The SET would be the first exchange in the region to offer evening trade, he added.
SET senior executives have expressed support for the concept, viewing extended trading hours as possibly appealing to investors with no time to trade the market during normal working hours.
"With an evening session, investors would be able to continue trade from home through the internet," an official said.
Brokers have also expressed support for the concept, given the opportunity to help generate additional trading transactions and commission fees.
But one concern is the impact on derivative products on the Thailand Futures Exchange, such as SET50 index futures and options. Authorities would look to harmonise trading hours between the two markets. According to the SET, 146,555 online accounts were registered with local brokers as of May.
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