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Asian Stock Markets Trading Hours

Normal Trading Hours
Current time (GMT+8)
Country Morning Lunch Break Afternoon
AUSTRALIA
10:00am to 04:10pm
CHINA
9:30am to 11:30am 11:30am to 1:00pm 1:00pm to 3:00pm
HONG KONG
9:30am to 12:00pm 12:00pm to 1:00pm 1:00pm to 4:15pm
INDIA
9:15am to 3:30pm
INDONESIA

Note: For Friday, due to praying, trading hours change slightly.
(see in blue)
9:00am to 12:00pm
9:00am to 11:30am
12:00pm to 1:30pm
11:30am to 2:00pm
1:30pm to 4:00pm
2:00pm to 4:00pm
JAPAN
9:00am to 11:30am 11:30am to 12:30pm 12:30pm to 3:00pm
MALAYSIA
9:00am to 12:30pm 12:30pm to 2:30 pm 2:30pm to 5:00pm
NEW ZEALAND
10:00am to 4:45pm
PHILLIPINES
9:30am to 12:00pm 12:00pm to 1:30pm 1:30pm to 03:30pm
SINGAPORE
9:00am 12:00pm to 01:00pm 5:00pm
SOUTH KOREA
9:00am to 3:30pm
TAIWAN
9:00am to 12:30pm 12:30pm to 1:40pm 1:40pm to 2:30pm
THAILAND
9:55am to 12:30pm 12:30pm to 2:25pm 2:25pm to 4:35pm
VIETNAM
9:00am to 11:30am 11:30am to 1:00pm 1:00pm to 03:00pm

Note:
1. Time indicated above are in GMT+8 format, for Daylight Saving Time, please set the time 1 hour ahead.

2. There are no trading on weekends and public holidays. Typically, when a holiday falls on Sunday, the following Monday will be a public holiday, and if this day is already a holiday, then the next day shall be a public holiday.

3. Typically, trading on Christmas Eve (24 December 201x) and New Years Eve (31 December 201x) will be closed in the afternoon session unless these day is on the weekend.

»  Click here for Trading Hours on Christmas' Eve and New Year's Eve
»  Click here for Trading Hours on Chinese (Lunar) New Year's Eve
»  Click here for Asian Stock Market Holiday in 2018


Thursday, May 24, 2018

How To “Hyflux-Proof” Your Portfolio?

News emerged on the evening of 22 May 2018 that the Singapore-based water treatment firm, Hyflux Ltd, has applied to the High Court to commence a court-supervised process to reorganise its liabilities and businesses.

As part of the reorganisation process, the board will only make payments that are critical to the continued operation of Hyflux’s businesses. One of the payments that are affected by the reorganisation is the upcoming distribution on Hyflux’s S$500 million, 6% perpetual capital securities, which is due on May 28 this year – holders of the perpetual securities will not be paid at this point.
 
As highlighted by my colleague Chong Ser Jing in a May 2016 article of his on Hyflux’s aforementioned perpetual securities, the company had “some areas of concern” in terms of its financial condition. One problematic aspect Ser Jing pointed out was Hyflux’s inability to generate cash.

Hyflux has also voluntarily suspended trading of its shares and securities since 23 May 2018 (before the market opened).

Could Hyflux’s investors have known, before they had invested in it, that such a sorry fate (the need to proceed with a court-supervised reorgnisation of its business) would befall on the company? How can stock market investors prevent a similar case from damaging their portfolio?
 
Before I answer the questions above, let’s look at some of the key financial figures from Hyflux from 2010 to the first quarter of 2018 that can help to determine how resilient its business is:Source: S&P Global Market Intelligence (note: debt-to-equity ratios are as of the date given while cash flow from operation figures are for the 12 months to the date given)

From the above table, we can see that Hyflux had net-debt-to-equity ratios and total-debt-to-equity ratios that had exceeded 80% in most years for the period under study. This suggests that Hyflux had been operating with a weak balance sheet. The table also shows that Hyflux did not manage to generate any cash flow from operations from 2010 to 2017, as well as the first quarter of this year.
 
Companies with highly leveraged balance sheets and an inability to produce any cash flow for a long period of time are very likely to run into serious trouble at the very least, or go bankrupt at the very worst. In the business world, the phrase, “Cash is king,” exists for a reason.

Now, back to the questions:

a) Could Hyflux’s investors have known, before they had invested in it, that such a sorry fate (the need to proceed with a court-supervised reorgnisation of its business) would befall on the company? 

Answer: The answer is “Yes”. 2017 was the first time Hyflux had suffered a full-year’s worth of losses in its operating history. But, the disaster has been long in the making, and the company’s balance sheets and cash flow statements were the telltale signs. As I had mentioned earlier, Hyflux has had trouble producing cash from its business since 2010. The last time it had positive cash flow from operations was in fact, in 2009.

b) How can stock market investors prevent a similar case from damaging their portfolio?

Answer: Invest only in companies with healthy balance sheets, strong cash flows, and solid long-term growth potential. Such businesses have a very high chance of surviving harsh economic conditions. And the last I heard, no company that has lots of cash and negligible debt ever went bankrupt.

I hope Hyflux can turn around its situation for the sake of its shareholders. As the next line of action, I would strongly encourage everyone to look at the businesses in their stock portfolios and see if the companies they own are producing enough cash flows and have manageable leverage on their balance sheets.

Click here for more info.!

Others related info.

Hyflux seeks court supervision on cash flow woes

What went wrong?

Trading of Hyflux shares, perpetual securities halted

Hyflux restructuring ...

High Court gives Hyflux 6-month break from creditors...

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Asian Markets Index Yearly Performance Comparison

At a Glance



 From Beginning of January to End of December


Number Country Gain / Loss
1 Philippines +3.72%
2 Indonesia +2.53%
3 Malaysia -0.18%
4 New Zealand -1.04%
5 South Korea -11.80%
6 Australia -15.23%
7 Singapore -18.22%
8 Japan -18.68%
9 Hong Kong -21.34%
10 Taiwan -21.64%
11 China -22.90%
12 India -24.83%

 From Beginning of January to End of December


Number Country Gain / Loss
1 India +25.19%
2 New Zealand +23.67%
3 Philippines +23.10%
4 Japan +21.44%
5 Hong Kong +20.02%
6 Singapore +17.81%
7 Australia +12.26%
8 Indonesia +11.89%
9 Malaysia +11.59%
10 Taiwan +10.75%
11 South Korea +9.35%
12 China +4.60%

 From Beginning of January to End of December


Number Country Gain / Loss
1 Japan +52.45%
2 New Zealand +16.50%
3 Australia +13.35%
4 Malaysia +11.50%
5 Taiwan +10.70%
6 India +7.39%
7 Philippines +0.49%
8 Hong Kong -0.02%
9 South Korea -0.97%
10 Singapore -1.07%
11 Indonesia -1.66%
12 China -6.75%

 From Beginning of January to End of December


Number Country Gain / Loss
1 China +39.27%
2 India +30.08%
3 Thailand +22.29%
4 Philippines +21.56%
5 Indonesia +20.79%
6 New Zealand +17.55%
7 Taiwan +8.07%
8 Vietnam +7.96%
9 Japan +7.12%
10 Singapore +6.09%
11 Hong Kong +0.69%
12 Australia +0.35%
13 South Korea  -2.62%
14 Malaysia  -4.95%

 From Beginning of January to End of December


Number Country Gain / Loss
1 New Zealand +13.58%
2 China +9.41%
3 Japan +9.07%
4 Vietnam +6.12%
5 Pakistan +2.13%
6 South Korea +1.81%
7 Australia -1.30%
8 Malaysia -3.45%
9 Philippines -3.85%
10 Sri Lanka -5.54%
11 India -6.35%
12 Hong Kong -7.62%
13 Taiwan  -10.41%
14 Indonesia  -12.39%
15 Thailand  -14.00%
16 Singapore  -14.47%

 From Beginning of January to End of December


Number Country (Index) Gain / Loss
1 Pakistan (KSE100) +45.68%
2 Thailand (SET) +19.79%
3 Indonesia (JCI) +15.32%
4 Vietnam (VNINDEX) +14.82%
5 Taiwan (TWSE) +10.98%
6 Bangladesh (DSEX) +10.21%
7 New Zealand (NZX50) +8.81%
8 Australia (AORD) +7.01%
9 South Korea (KOSPI) +3.32%
10 India (SENSEX) +1.95%
11 Japan (N225) +0.42%
12 Hong Kong (HSI) +0.39%
13 Singapore (STI)  -0.07%
14 Philippines (PSEI)  -1.60%
15 Malaysia (KLCI) -3.00%
16 Sri Lanka (CSE)  -9.66%
17 China (SSEC)  -12.31%

 From Beginning of January to End of December


Number Country (Index) Gain / Loss
1 Vietnam (VNINDEX) +48.03%
2 Hong Kong (HSI) +35.99%
3 India (SENSEX) +27.98%
4 Philippines (PSEi) +25.11%
5 Bangladesh (DSEX) +24.05%
6 New Zealand (NZX50) +22.04%
7 South Korea (KOSPI) +21.76%
8 Indonesia (JCI) +19.99%
9 Japan (N225) +19.10%
10 Singapore (STI) +18.13%
11 Taiwan (TWSE) +15.01%
12 Thailand (SET) +13.66%
13 Malaysia (KLCI)  +9.45%
14 Australia (AORD)  +7.84%
15 China (SSEC) +6.56%
16 Sri Lanka (CSE)  +2.26%
17 Pakistan (KSE100)  -15.53%