OSAKA – The Osaka Securities Exchange will extend its trading hours by 30 minutes starting Nov. 21 in a bid to spur market activity, bourse officials said Wednesday, a move in line with the Tokyo Stock Exchange.
The morning stock trading session, which opens at 9 a.m., will be extended to 11:30 a.m. from the current 11 a.m., while the afternoon session, 12:30 to 3 p.m., will remain unchanged.
The two bourses had initially aimed to extend trading hours starting in May to give market participants more time to trade, but following the March 11 disaster and ensuing nuclear crisis the extension was put off until fall to cope with anticipated power shortages in the summer.
Trading hours at the TSE will be extended starting Nov. 21.
Meanwhile, Michio Yoneda, president of Osaka Securities Exchange Co., emphasized during a shareholders’ meeting the same day the importance of an early agreement on the bourse’s merger with Tokyo Stock Exchange Group Inc. amid a delay in talks.
“It’s important to realize (a merger) quickly when the time is right,” Yoneda said.
He also said an urgent task for the Japanese market is to increase its international competitiveness and the integration would be a “great advantage” as it would boost the convenience and efficiency of the bourse, adding that the merger would aim to boost the OSE’s corporate value.
As for the talks, Yoneda said, “I can’t say anything as nothing has been decided yet.”
Talks between the two bourses have been delayed as the TSE is seeking an early listing on the Tokyo bourse, while the OSE is calling for a merger before listing.
By subscribing, you can help us get the story right.