One of prerequisite condition for an efficient stock market is frictionless market. This prerequisite contradict with normal human activity such as lunch break and market close. Reason, lunch break and market close are market friction that prohibited continuous transaction in stock market. Since, new information arrival is a random event, it also mean their arrival also random, it may arrive in the lunch break, or may arrive when the market close. When new information arrive when the market close, price tend to experience significant slippage, or price jump, up or down, from previous price close. This phenomenon also not desirable from risk management perspective.
Currently stock market operator around the world, i.e. Singapore Stock Exchange, Australia Stock Exhange, etc., tries to eliminate this friction with reducing lunch break and extending trading hour, and if we extrapolate further, no more time for breakfast, lunch, and dinner, stock market need to operate 24/7.
While it seem right and needed from theoretical finance perspective, I do not believe it is right from human nature perspective. We, as human, need a break and rest, contradict may it seems, break and rest reduce human error and increase human capabilities to process information and make good decision.
Some may argue using algorithmic trading atau computer aided trading, trading can be executed 24/7, computer do not need to eat breakfast, lunch, dinner, do not need to sleep, and the most important do not need to socialize.
Now it's up to you, do you want to be more humanlike creature or more roboticlike creature?
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