Australia's ASX Stock Market, known formally as ASX Limited, is currently in merger talks with Singapore's Stock and Derivatives Exchanges (SGX), subject to approval by Australia's Foreign Investment Review Board. The intent is to create the largest exchange in Asia by volume.
Trading begins at pre-market open at 7:00 a.m. Sydney time and a formal opening at 10:00 a.m. Stock orders are entered into the system during premarket opens with best-priced orders to trade first. The 10:09 a.m. full opening occurs about the same time as the 10:00 a.m. Australian dollar fix. This dual-purpose opening can forecast valuable information as to direction of Australian dollar/U.S. dollar as well as Australian dollar/New Zealand dollar.
The equity ...