Seoul bourse urged to extend trading to overlap region
Seoul
TRADING hours at the South Korean stock market should be extended by an hour at least so that they overlap with other regional markets to encourage more foreign investment, the head of the Korea Financial Investment Association (Kofia) said. The market currently closes at 3 pm local time (0600 GMT), an hour earlier than mainland Chinese markets and two hours earlier than Hong Kong.
Hwang Young-key said the organisation's members had asked for the longer trading hours and that he "strongly agreed to the idea". Kofia has 163 members including brokerages and asset management companies. "Other markets such as Hong Kong remain open until 4 pm local time, and so extending trading hours here will give foreign investors an opportunity to better trade between markets in the region," said Mr Hwang.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
ADB agrees to US$5 billion funds replenishment with donors
Dollar drops as employers add fewer jobs than expected in April
HSBC has no plans to dispose of further businesses, chairman says
JPMorgan unveils IndexGPT in next Wall Street bid to tap AI boom
Morgan Stanley, Frasers settle UK lawsuit over US$1 billion margin call
Danske’s net income rises 9% helped by higher interest rates