Korea's stock markets to operate 30 minutes longer from Monday

주식 거래시간 오늘부터 30분 연장…오후 3시30분 폐장
Investors will have an extra 30 minutes a day to trade stocks and other commodities on Korea's markets starting today.
Korea Exchange expects the extension to give a much needed boost to the country's benchmark index that has been stuck between the 19-hundred and 21-hundred mark for years.
Kim Mok-yeon has the details.
Korea Exchange has announced Korea's stock and foreign exchange markets and gold exchange will extend their trading hours by 30 minutes from August 1st.
The opening time will remain the same at 9 a.m., but the regular session for the stock and gold markets will close half-an-hour later at 3:30 p.m.
Derivatives trading will end at 3:45, instead of 3:15.
But, Korea Exchange decided to cut 30 minutes from after-hours trading, which will now run from 3:40 to 6 p.m.
The latest move marks the first change in 16 years.
In the year 2000,... the market operator eliminated the lunch hour break.
The trading hours of Asian stock markets are generally shorter than other parts of the world, with Japan operating for five hours a day and China just four.
Advanced markets such as those in the U.S. operate for six-and-a-half hours a day while Britain and Germany's markets are open for eight-and-a-half hours each.
Korea Exchange predicts the 30 minute extension will see an eight percent increase in trade volume,... raising daily transactions by up to 610 million U.S. dollars.
It's also expected to help the domestic stock market escape from the "box pattern" which the KOSPI has been locked in for more than six years.


"The extension will give investors more transaction opportunities and the chance to make use of China related products more efficiently. It will also help Korea escape from the so-called "BOXPI".

However, competition with Beijing is expected to grow, since the extended hours will allow investors to reflect market information from the Chinese market which closes at 4 p.m., Korea time.
Kim Mok-yeon, Arirang News.

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