Japan funds are to suspend dealing for over a week from tomorrow as the country begins an unusually long 10-day national holiday, as traditional Golden Week celebrations this year coincide with the coronation of a new emperor.
Japan's 10-day national holiday will begin on Saturday and last until 6 May. As Japan's stock market will be closed over that period, most major funds investing in the country will suspend dealing for the period.
Online stockbroker Hargreaves Lansdown flagged in a note to investors that customers wanting to trade the funds before the suspension would need to submit orders before 8am tomorrow.
Hargreaves also cautioned that where funds were planning to remain open for dealing, they could suspend dealing in the event of significant outflows over the period.
The rare lengthy national holiday is to mark the abdication of emperor Akihito and his succession by his son Naruhito. Japan's government granted three days of holiday, from 30 April to 2 May, to mark the event. With 29 April, 3 May and 6 May already assigned public holidays to mark Golden Week, Japan will embark on a 10-day break, including weekends, from Saturday.