Hong Kong faces pressure to speed up trading hours review after South Korea’s move
Hong Kong’s stock market is facing fresh pressure to accelerate its review of longer trading hours after South Korea’s main bourse extended its session by four hours on Monday, according to an industry player. The Korea Exchange, South Korea’s bourse operator, launched a real-time after-market from 4pm to 8pm in addition to regular trading from 9am to 3.30pm. It also signalled ambitions to expand…
Hong Kong's stock market is under scrutiny to expedite its review of extending trading hours, following South Korea's decision to introduce a real-time after-market. The Korea Exchange extended its trading session from 4pm to 8pm, complementing regular trading hours from 9am to 3:30pm. This move has prompted South Korea's market to operate for nearly 10.5 hours daily, more than double Hong Kong's current 5.5 hours from 9:30am to 4pm, including a one-hour lunch break.
Hong Kong Exchanges and Clearing (HKEX) and the Securities and Futures Commission (SFC) have separately indicated to the South China Morning Post that they are exploring longer trading hours, but without providing specifics. Kenny Ng, a representative of Everbright Securities International, suggested that the latest South Korean development could prompt Hong Kong to expedite its consultation process.
Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers, noted that South Korea's after-hours launch is part of a broader trend of extending trading sessions globally, reinforcing the argument for Hong Kong to consider improving accessibility to attract global investors. An HKEX spokesperson emphasized the exchange's commitment to enhancing its competitiveness as an international financial center and its regular review of opportunities to improve market accessibility.
However, stockbrokers are cautious about the potential impact of longer trading hours. Robert Lee Wai-wang, a lawmaker for the financial services sector and chairman of Grand Finance Group, stressed the importance of obtaining sufficient consensus and feedback from the market before making any hasty decisions. He acknowledged that HKEX will adjust its trading hours based on local market conditions and demand, rather than solely following changes in other markets.
Despite the concerns, many believe this could be an opportune time to holistically review the benefits and challenges of extended trading hours and consult stakeholders for the way forward.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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