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Finance

KRX to launch after-hours market, trading until 8 p.m. from Sept. 14

The Korea Exchange (KRX) will operate an after-hours market from Sept. 14, allowing real-time stock trading until 8 p.m. after the regular session ends. The exchange said it revised rules for its KOSPI and KOSDAQ markets and that 38 brokerages, representing 95.2 percent market share, plan to participate. Existing after-hours single-price trading will be abolished and replaced by continuous matching from 4 p.m. to 8 p.m.

Finance

Single-stock leverage regulation starts; how far will additional measures go?

South Korea is tightening regulation of single-stock leveraged products, including setting per-investor limits and raising transaction costs to curb excessive trading. Asset managers and securities firms agreed to spread rebalancing trades beyond the close and reduce liquidity provider volume while managing ETF price-to-NAV gaps. The government raised the minimum deposit for single-stock leveraged ETFs and ETNs to 30 million won, effective July 31, and outlined further steps including investor education and legal grounds to adjust leverage in emergencies.

Finance

Mirae Asset Securities lists leveraged single-stock ETNs on Samsung Electronics, SK hynix

Mirae Asset Securities will newly list 2 leveraged single-stock exchange-traded notes (ETNs) that track twice the daily returns of Samsung Electronics and SK hynix, it said. The ETNs follow daily moves in the KRX Samsung Electronics TR Leverage Index and the KRX SK hynix TR Leverage Index calculated by Korea Exchange. Mirae Asset said the ETN structure can track index returns more precisely after expenses. It cautioned the products are high-risk.