There are only three weeks left until NASDAQ in the United States implements "23-hour trading," and the impact of this new regulation on the South Korean stock market is also receiving a great deal of attention.

The major exchanges in the United States are making every effort to attract global funds, including those from Asia. There are varying opinions regarding whether Korean investors will further increase their holdings in U.S. stocks and what impact this will have on the capital situation in the Korean stock market.

Financial investment industry news on the 15th: NASDAQ in the United States will implement a trading system of 5 days a week and 23 hours a day starting from next month's 6th, local time.

This time, a new night trading session has been added. Calculated according to Korean time, the trading session is from 11 a.m. each day to 10 a.m. the next day; there is a market closure from 10 a.m. to 11 a.m. for system maintenance.

Platforms such as NYSE Arca under the New York Stock Exchange and EDGX under the Chicago Options Exchange also plan to introduce a 23-hour trading mechanism, and the competition for liquidity among American exchanges is expected to intensify.

Li Chengfu, a senior researcher at the Capital Market Research Institute, stated: "A major reason why NASDAQ and the New York Stock Exchange have switched to 23-hour trading is that they have seen a strong demand for night trading in the Asian market and hope to attract global investors, especially those from Asia."

He explained, "In the past, night trading in the US stock market mainly took place through alternative trading platforms like Blue Ocean, which were primarily used by individual investors; now that regular exchanges have extended trading hours, institutional investors can also participate."

He also stated, "The uncertainty in the South Korean stock market has not yet been resolved, and with the U.S. stock market now trading 23 hours a day, there is reason to believe that the scale of South Korean investors' investment in U.S. stocks is likely to further expand."

However, some analyses suggest that merely extending trading hours will not lead to a large-scale flow of funds from the South Korean stock market to the US stock market.

Gao Taifeng, the director of the Securities Research Center, stated: "Investors who want to invest in US stocks are already doing so. The final decision on where to allocate their funds depends on the investment value of the companies themselves, rather than whether there is sufficient trading time."

Shen Chonghao, the director of the Securities Research Center, also stated: 'Although investors can trade on NASDAQ during their daytime hours, which does improve convenience, this will not have a significant impact on the capital situation of the Korean stock market. Just imagine, if NASDAQ introduced 24-hour trading in the first half of the year when the Korean stock market was performing well, would Korean investors flock to the US stock market? In the end, market sentiment is the decisive factor.'

However, against the backdrop of the South Korean stock market falling from its highs and showing a sluggish trend in the second half of the year, the extended trading hours in the U.S. stock market may also exacerbate concerns about the outflow of local funds.