While some other Asian bourses are forging cross-border links to grab market share, it is reported that Tokyo Stock Exchange has indefinitely suspended a plan to hold a two-hour evening session.

While some other Asian bourses are forging cross-border links to grab market share, it is reported that Tokyo Stock Exchange has indefinitely suspended a plan to hold a two-hour evening session. The idea had been to make the exchange more competitive against rivals in Europe and the US.

Officials in Tokyo in January established a round table to discuss the idea of reopening from 9pm to 11 pm (1200-1400 GMT), according to AFP. Tokyo's bourse is open for a total of five hours per day with an hour midday break - less than six and a half hours on Wall Street and also behind London and Singapore.

But domestic brokers and institutional investors opposed the idea, citing extra staff costs that would outweigh the benefits, the news report said.

"While many retail investors who trade through the Internet expressed a preference for night-time trading, the idea did not garner sufficient support from other retail investors, as well as domestic and international institutional investors. TSE has decided that it is not appropriate to being night-time trading at the moment,” it said.

“This conclusion, however, does not necessarily mean that night-time trading will not be feasible in the future. TSE will continue to monitor developments and changes in the securities industry and reconsider the issue at an appropriate time,” it added.

Atsushi Saito, chief executive of the TSE's parent Japan Exchange Group, is quoted by media as saying: "I regret the conclusion this time and I'm sorry for individual investors who had been expecting" the extension.

Earlier in November, the Hong Kong and Shanghai stock exchanges started their planned “through train” link, seen as a move by China to open its doors more to international investors. Other Asian exchanges, such as that of Singapore, are said to be examining cross-border links.