Longer trading hours won't fix ills of Asia bourses: report

Exchanges in Hong Kong, Japan and Singapore have lengthened their trading hours in recent months to attract greater liquidity and volume. But such moves will not be sufficient to achieve their aims, argues agency broker Instinet in a report to be released today. The central issue is a lack of competition among trading venues of the sort seen in Europe and the US in recent years. Without true competition – for both execution and clearing – exchanges have no incentive to build low-l…