The Fragmented Calendar: A Data Atlas of Global Stock Exchange Holidays 2025
Japan loses 99 hours of trading time to holidays each year — more than any other major exchange. India loses 87.5 hours across 14 closures. China loses only 72 hours despite having 18 holidays. Same counts, wildly different costs — because the pattern matters as much as the total. Every number below is verified from official exchange sources.
Where Every Holiday Falls
Each dot is one weekday the market is closed. Position is exact — placed by week within the year. Hover to see the holiday name.
India’s row is a dashed line — one dot almost every month, never clustered. China’s row is the opposite: six solid blocks you can plan around. Germany and LSE clear the entire mid-year with almost nothing.
What It Actually Costs
The count of holidays is misleading without session length. Germany and LSE each close 8 times but run 8.5-hour days. China closes 18 times but trades only 4 hours a day.
Japan’s 2024 extension to 5.5-hour sessions (removing the lunch break, effective Nov 5 2024) pushed its annual hours-lost above everyone else — a fact absent from most market commentary.
What Each Country Decides Is Worth Stopping For
Japan closes for 13 civic holidays and only 2 cultural ones. India is the opposite — 10 religious festivals and 3 civic days. The breakdown reveals institutional character more than any count does.
JPX has a category none of the others have: 3 exchange-declared market holidays (Jan 2, Jan 3, Dec 31) with no civic or religious basis — the exchange simply decided those days don’t trade.
How Many Weeks Are Actually Interrupted
Same holiday count can mean very different disruption rhythms. Each square below is one trading week — colored if it contains at least one closure, dark if completely clean.
China has 18 holidays but only 9 disrupted weeks — clusters compress the damage. India has 14 holidays but 12 disrupted weeks because every closure is isolated. Xetra’s 33-week uninterrupted streak (late April through November) is the cleanest continuous trading window of any major exchange.
The Data
Every date, name, type, and block grouping — verified from official exchange circulars and the open-source exchange_calendars package. No approximations.
Sources per exchange:
| Exchange | Holiday source | Hours source |
|---|---|---|
| NSE / BSE | NSE official circular (nseindia.com/resources/exchange-communication-holidays) | NSE official market timings |
| NYSE / NASDAQ | NYSE/ICE press release Dec 2022 + SEC filing Jan 2025 (Carter mourning day) | NYSE.com/trade/hours-calendars |
| LSE | londonstockexchange.com/equities-trading/business-days | Confirmed: 08:00–16:30 daily |
| JPX | jpx.co.jp/english/corporate/about-jpx/calendar | JPX press release Nov 3 2024 — extension to 12:30–15:30 |
| HKEX | hkex.com.hk/services/trading/derivatives/overview/trading-calendar-and-holiday-schedule | 9:30–12:00 + 13:00–16:00 |
| SSE | english.sse.com.cn/start/trading/schedule | 9:30–11:30 + 13:00–15:00 |
| Xetra | Deutsche Börse 2025 calendar PDF (cashmarket.deutsche-boerse.com) | “9:00–17:30 CET” — official |