As the day begins in each part of the world, there is a flow of stock trading. The first of the major markets in the world to open are those in the countries nearest the International Date Line. New Zealand’s market opens first, followed by Sydney (Australia), Tokyo, Hong Kong, Singapore, China, Mumbai (India), and Moscow. Europe then follows, with Switzerland, France, Germany’s Frankfurt Exchange, and London, England. Then the North American markets open, in Toronto, New York, and finally Chicago.