Yahoo Finance Moomoo Singapore introduces 24-hour US stock trading
Retail investors can capitalise on short-term price movements and trade without needing to adhere to US time zones.
Moomoo Singapore is offering 24-hour, five days a week trading for over 100 US stocks and exchange-traded funds (ETFs) at zero commission.
The feature aims to level the playing field for retail investors to engage in round-the-clock trading of both US securities and ETFs at times that are convenient to them.
With the launch, retail investors can capitalise on short-term price movements and trade without needing to adhere to US time zones.
According to Moomoo Singapore’s latest trading data, 26.5% of US stocks trades on the platform this year as at end May are placed after-hours, equivalent to 19.6% of the total trading volume.
In the first quarter, Singapore investors gained more appetite for US mega-cap tech stocks, with Tesla, Apple, Nio, Amazon and Alibaba being the top-traded stocks by transaction volume, the platform finds.
“We have observed a strong interest among our local investors in round-the-clock trading of US securities, and we have responded. I hope they can now catch up on some sleep and capture opportunities at their preferred hours,” says Moomoo Singapore managing director Gavin Chia.
The company continues to serve Singapore’s appetite for investing, with average client assets up 22% q-o-q in 1Q2023.
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