Perfect solution to the stock market farce
Asian stock markets are being coerced to cut down their lunch breaks, and better, no lunch breaks to increase their productivity and facilitate cross border trades. The latest victim is Hongkong halving its lunch break from 2 hours to one hours. Tokyo too will have its lunch break cut. Singapore is contemplating of doing away with the lunch break completely, which is likely to happen on 1 March. One of the solid reasons given is to reduce the advantage/disadvantage of differences in trading hours. By doing away with lunch breaks and to extend the trading hours, stock exchanges will now operate with at least similar trading hours or overlapping hours. That will ease off a lot of the disadvantages. To me this is a little foolish. As long as the stock markets across the world are operating at different hours because of the different time zones, no amount of time adjustment or no lunch breaks can be of any great help. The advantage is minimal but the price paid by the stockbrokers is not small. There is a perfect solution to all the farce about different trading hours and trying to bring them as close as possible. Actually there are two answers. One is to operate stock markets on a 24 hour basis. The second is to use Greenwich Time and all stock markets shall operate at the same hours. See, all the farce will go away. Stupid problems need to be solved by stupid solutions. Red herring problems can be solved by applying twisted logics.