The Saudi stock market’s Tadawul All-Share Index (TASI) today traded under a single session for the first time, the Arab News reported today.
The Capital Market Authority (CMA) announced earlier this month that effective October 28, 2006, the Tadawul would trade for a single session starting at 11 am and ending at 3:30 pm, Saturday through Wednesday.
The new hours replace the previous morning and afternoon sessions and bring the Tadawul in line with the practices followed in international markets.
In addition, the Saudi Arabian Monetary Agency (SAMA) has directed banks to change the working hours of their stock trading halls from 9 am to 5 pm, effective today. Working hours at regular bank branches will continue to operate under the morning and evening sessions.