Seoul Aims to Make KRX a 24-Hour Forex Hub as Profits Surge for Financial Firms
Seoul is aiming to transform the Korea Exchange Market (KRX) into a 24-hour forex trading hub to align with MSCI's standards. Meanwhile, financial holding firms have seen a significant boost in profits, with a 10 percent increase in the first half of the year. This surge in earnings is set to benefit investors with substantial payouts. However, the stock market has witnessed a slowdown in trading activity despite a rise in account numbers, as the price rally has eased.
The Korean government is eager to make the KRX a global player by extending its trading hours to match international markets. This move is in response to MSCI's requirements for inclusion in its indices.
Financial holding firms have enjoyed a bumper first half, with net profits surging by 10 percent. This windfall is expected to translate into generous dividends for investors. The increased earnings can be attributed to various factors, such as improved market conditions and strategic business decisions.
In the stock market, while the number of accounts has grown, trading activity has slowed down. This shift can be linked to the waning price rally, which previously drove enthusiasm in the market.
Seoul's initiative to make the KRX a 24-hour stock market is set to enhance Korea's global financial standing. Meanwhile, financial holding firms' robust profits are poised to deliver significant returns to investors. Despite the stock market's account growth, a slowdown in trading activity suggests a more cautious approach from investors.
