Published : Jan. 21, 2016 - 14:19
Korea’s bourse operator said Thursday that it will seek to extend the regular trading hours by 30 minutes to go in tandem with a global trend and increase its overlap with other markets in the region.
Headquarters of KRX in Yeouido, central Seoul
“Currently, the Korean market runs for six hours from 9 a.m. until 3 p.m., which is 2-3 hours shorter than global peers,” said Choi Kyung-soo, chairman and CEO of Korea Exchange, in a press conference in Seoul. “I will strive for a 30-minute extension this year.”
The bourse operator’s previous attempts to lengthen the hours fell through in the face of resistance from local brokerage houses.
The London Stock Exchange and the Euronext have 8 1/2-hour regular trading hours. U.S. stock markets’ normal trading hours run from 9.30 a.m. to 4 p.m., with trading available on extended hours.
In Asia, Chinese markets, which Korean markets are increasingly copying, open at 10.30 a.m. and close at 4 p.m. in Seoul time
The KRX chief also said he will push for the initial public offering of the bourse operator early next year.
By Lee Sun-young (milaya@heraldcorp.com)