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Thursday, September 07, 2000, updated at 14:49(GMT+8) | |||||||||||||
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Shanghai and Shenzhen Stock Markets May Extend Trading HoursAt the end of July, China Securities Regulatory Commission secretary general Tu Guangshao said, "In terms of the [stock market] trading system, we are using the experiences of foreign countries as a foundation to study the feasibility of extending trading hours, which will provide investors with more services and attract more investors," at the 7th Annual Asia-Pacific Finance Conference in Shanghai. Relevant departments have already polled securities traders about extending trading hours.According to sources, there are two main proposals to extend trading hours. One is to extend trading hours by two hours, from 3 o'clock to 5 o'clock in the afternoon. The other proposal is open up an after hours trading from 7 o'clock to 9 o'clock in the evenings. According to the survey, more people found the second option more acceptable. People in the industry say that extending trading hours, especially in the evenings, will have a deep impact not only on investors, securities exchange companies, IPOs and the stock markets, it will also affect people's lifestyle. The extended hour trading will allow the working class to invest in the stock market after work, which would increase the number of investors. Also, extending trading hours will increase the volume of trades and the circulation in the markets. Of course, extending trading hours will affect the fixed habits of securities markets, be they the investment habits of investors, the method of trading or the expansion of the brokerage services. Some securities traders have reportedly started researching how the extended trading hours would affect brokerage services.
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