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…
Nasdaq plans to extend trading hours for US equities, launching a new overnight session from 9pm to 4am Eastern Time from December 6. This move, approved by the US Securities and Exchange Commission in April, aims to cater to growing Asian investor demand. The overlapping trading window with Hong Kong and Beijing will allow prices to be transmitted "instantly during Hong Kong trading hours" according to Wang Gang, chairman of asset manager Jiangyue Fund.
The change could impact intraday price correlations, particularly in sectors like internet technology, semiconductors, electric vehicles, and biotechnology. While some market observers believe the shift won't significantly divert liquidity to US equities, Hong Kong's main exchanges are preparing to extend their after-hours derivatives trading session to further enhance competitiveness.
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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