Securities Industry Latin America

In a move that highlights how closely its fortunes are tied to the U.S., Brazil's stock exchanges on Wednesday shifted trading hours so they won't be whipsawed by wild market swings before U.S. stocks start trading. The Sao Paulo stock exchange, known as the Bovespa index, and the Rio de Janeiro exchange delayed opening by two hours to noon, or 9 a.m. Eastern Standard Time, and extended closing by one hour to 6 p.m., or 3 p.m. Eastern Standard Time.

In a move that highlights how closely its fortunes are tied to the U.S., Brazil's stock exchanges on Wednesday shifted trading hours so they won't be whipsawed by wild market swings before U.S. stocks start trading. The Sao Paulo stock exchange, known as the Bovespa index, and the Rio de Janeiro exchange delayed opening by two hours to noon, or 9 a.m. Eastern Standard Time, and extended closing by one hour to 6 p.m., or 3 p.m. Eastern Standard Time.