April 20, 2024

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South Korea’s financial regulator said on April 3 that it has approved a plan to shorten premarket trading time by 30 minutes from later this month.

Off-hour block trading, which aims to cut price fluctuations due to block deals, occurs between 7:30 a.m. and 9 a.m. From April 29, such trading will occur between 8 a.m. and 9 a.m., the Financial Services Commission said in a statement.

The revision will affect three bourses -- Kospi, Kosdaq and Konex -- the FSC said.

Currently, about 93 percent of off-hour block trading occurs between 8 a.m. and 9 a.m., the FSC said.

By Ram Garikipati and newswires (ram@heraldcorp.com)