|26 March, 2020

Tadawul cuts trading hours to curb spread of coronavirus

Trading hours for all listed securities will be from 10 am to 1 pm

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

The Saudi Stock Exchange (Tadawul) has reduced the trading hours temporarily to slow the spread of coronavirus.

Starting today, Thursday, trading hours for all listed securities will be from 10 am to 1 pm, the exchange said in a statement. Tadawul’s trading hours were from 10 am to 3 pm prior to the announcement.

Tadawul provided the below timings for the trading sessions:

  • First session: Opening auction from 9:30 am to 10 am
  • Second session: Market opening – Trading from 10 am to 1 pm
  • Third session: Closing auction (except for debt instruments and exchange traded funds (ETFs)) from 1 pm to 1:10 pm
  • Fourth session: Trade at last (except for debt instruments and ETFs) from at 1:10pm to 1:20pm
  • Fifth session: Market closing (except for debt Instruments and ETFs) from 1:20pm to 2pm - Debt instruments and ETFs: from 1 pm to 2 pm

Saudi Arabia’s Health Ministry announced on Wednesday a second coronavirus death and 133 new infections, taking the total number of cases in the kingdom to 900, while 29 people have recovered from the virus so far.

Worldwide, the number of cases has reached more than 450,000.

(Writing by Gerard Aoun; Editing by Cleofe Maceda)

( Gerard.Aoun@refinitiv.com )

#SAUDI #TADAWUL #CORONAVIRUS #STOCKEXCHANGE

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020

More From Equities