Singapore shares edged higher by midday on Wednesday as investors wait on the sidelines for the full-year results of companies, despite the regional rally that took its cue from Wall Street gains and hopes for more robust U.S. earnings.

Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse operator, was one of the leading gainers, rising as much as 2.7% on plans to start all-day trading on March 1 and the potential US$6 billion ($7.7 billion) listing of Hutchison Whampoa’s port trust unit in Singapore.  

 

At midday, SGX shares were up 2.2% at $8.69 on a volume of 7.5 million shares.

 

Phillip Securities said other exchanges that removed or reduced the timing of lunch breaks reported an increase in earnings by 6-12%, adding that exchanges in Hong Kong and Japan have lengthened their market hours.  

 

“More and more exchanges in the world are implementing longer trading hours...because the participants of the market are not just based in where the market is now,” said Kenneth Ng, head of CIMB Research in Singapore.

 

“The success in getting big reputable listings will not only do well for trading values, but also help to improve the perception of the exchange as a preferred listing,” he added.