[Infostock Daily= Reporter An Hoe Hyun] Preferred stocks with less than 500,000 listed stocks will be converted into single-price trading every 30 minutes from the out-of-hours market after the end of the regular market.
The Korea Exchange announced on the 15th that it will change the method of trading for preferred stocks with less than 500,000 listed stocks to single-priced trading from the 28th.
Low-fluidity stocks that are currently being sold at single prices every 10 minutes will also be subject to regular single-priced trading(30-minute cycle) if they meet the requirement of less than 500,000 shares listed.
If this system is implemented, the total number of eligible stocks is 31 as of the 11th, with 30 KOSPI and 1 KOSDAQ. The Korea Exchange plans to evaluate the number of listed stocks as of the 25th and finalize the target stocks.
This is a follow-up to the Financial Services Commission's plan to protect investors related to preferred stocks announced in July. Due to the low volume of preferred stocks, the stock price can fluctuate even with a small amount.
Reporter An Hoe Hyun ahh@infostock.co.kr
