Can Hong Kong hold its ground as Nasdaq brings Wall Street into Asian hours?
Nasdaq is preparing to extend trading in US equities on its exchange to nearly 23 hours a day from next month, a landmark shift that will bring Wall Street into real-time competition with Asian markets. The expansion, slated for launch on December 6, introduces an overnight window running from 9pm to 4am Eastern Time. During US winter time, that corresponds to 10am to 5pm in Hong Kong and…
The Nasdaq exchange is set to extend trading hours for US equities, introducing a new overnight window from 9pm to 4am Eastern Time, starting December 6. This move aims to compete with Asian markets, especially Hong Kong and Beijing, which will overlap with normal trading hours. The Securities and Exchange Commission approved the plan in April, pending further rule changes and market data systems.
Hong Kong, operating as an open financial hub, is expected to feel immediate effects. Market participants anticipate tighter intraday price correlations across sectors such as internet technology, semiconductors, electric vehicles, and biotechnology. Overnight price swings may be reflected in Hong Kong trading within hours, while moves in Hong Kong-listed tech stocks could influence US-listed Chinese peers during Asian hours.
While some market observers believe this change won't significantly divert liquidity from Hong Kong, others remain cautious. Hong Kong's main sources of US equity exposure remain outside Asian daytime hours, and the Stock Connect scheme already allows mainland Chinese investors to invest in Hong Kong. To counteract potential losses, the Hong Kong Exchanges and Clearing plan to extend derivatives trading hours to 4.15am from 3am starting March 2027, aiming to maintain market competitiveness.
Written by urgent.news from SCMP Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
