The move was scheduled to coincide with the Easter and May Day holidays, because many staff were due to be taking leave, they confirmed.

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May Day holidays in much of the world meant less activity and in turn increased volatility, Smith said.

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The government has mooted reforms that would reduce May Day observance to a single day and distribute the rest over a series of one-day holidays for the traditional Tomb Sweeping day, Dragon Boat festival and Mid-Autumn festival.

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