Published : Aug. 1, 2016 - 18:58
[THE INVESTOR] The outstanding daily trading volume and its value on South Korea’s main bourse KOSPI did not record any significant changes on the first day that the country’s stock market extended trading hours by 30 minutes on Aug. 1.
Cap: A worker makes a telephone call after the stock market closed at the Korea Exchange in Seoul on Aug. 1. Korea Exchange
A total of 341 million shares traded on the day worth 4.65 trillion won (US$4.29 billion), up 1.8 percent from 4.57 trillion won, an average daily trading value of the first seven months of this year, according to data released by the country’s bourse operator Korea Exchange.
The trading volume declined 12.9 percent from 412 million shares during the same period.
The is a disappointing result for the bourse operator which expected that the 30 minute extension would boost equity-trading volumes by up to 8 percent.
For the first time in 16 years, KRX has altered its trading hours from Aug. 1.
The share, currency and gold markets close at 3:30 p.m. 30 minutes later than the current 3 p.m., while the derivatives market close at 3:45 p.m., instead of the previous 3:15 p.m.
The data also showed that the secondary bourse KOSDAQ’s trading value declined 8 percent to 3.69 trillion won from July’s average of 4.18 trillion won.
Liquidity has been stagnant over the past decade with daily trading value of around 4 trillion won to 5 trillion won.
The KOSPI added 13.09 points, or 0.67 percent to 2,029.61, marking this year’s highest while the KOSDAQ shed 2.52 points, or 0.36 percent to 703.72.
By Park Han-na (
hnpark@heraldcorp.com)