Japan Stock Market

Major Stock Exchange Introduction

The Tokyo Stock Exchange (TSE)

The Tokyo Stock Exchange (TSE) was established on May 15, 1878. According to the ranking made by the World Frderation of Exchanges in May 2012, TSE, is the third largest stock exchange in the world by aggregate market capitalization of its listed companies, after NYSE Euronext (first) and NASDAQ OMX(second). The Tokyo Stock Exchange had about 2,287 listed companies with a combined market capitalization of USD 3.534 trillion.

Stocks listed on the TSE are separated into the First Section (for large companies), the Second Section (for mid-sized companies), and the "Mothers" section (for high-growth startup companies). As of March 2006, there are 1,721 First Section companies, 489 Second Section companies and 156 Mothers companies.

Osaka Securities Exchange

Osaka Securities Exchange Co., Ltd. is the second largest securities exchange in Japan, in terms of amount of business handled. As of 31 December 2007, the Osaka Securities Exchange had 477 listed companies with a combined market capitalization of $212 billion.

The Nikkei 225 Futures, introduced at the Osaka Securities Exchange in 1988, is now an internationally recognized futures index. In contrast to the Tokyo Securities Exchange, which mainly deals in spot trading, the Osaka Securities Exchange’s strength is in derivative products today OSE is the leading Derivatives Exchange in Japan and it was the largest futures market in the world in 1990 and 1991.

According to statistics from 2003, the Osaka Securities Exchange handled 59% of the stock price index futures market in Japan, and almost 100% of trading in the options market. Osaka Securities Exchange Co., which listed on its Hercules market for startups in April 2004 is the only Japanese securities exchange which went public on its own market.

JASDAQ Securities Exchange

The JASDAQ Securities Exchange is a securities exchange headquartered in Tokyo, Japan. JASDAQ is not related to NASDAQ in the United States, but operates an electronic trading system similar to NASDAQ.

In 1963, the Japan Securities Dealers Association (日本証券業協會) set up an over-the-counter registration system for trading securities. This system was placed under the management of a private company. The JASDAQ automated quotation system became operational in 1991. In 2004, JASDAQ received a permit from the Prime Minister to reorganize as a securities exchange. It became the first new securities exchange in Japan in almost fifty years.

Major Index Introduction

TOPIX index

Based on the share prices of First Section companies on the Tokyo Stock Exchange

Nikkei 225 index

Based on the companies selected by the Nihon Keizai Shimbun (Japan's largest business newspaper)

Account Opening Procedures

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Trading Information

Country Trading Session(HongKong) Trade Currency Settlement Currency & Duration Earliest HK time to accept orders for next trade day
Japan Monday ~ Friday
Morning Session
08:00 - 10:30
Afternoon Session
11:30 - 14:00
JPY JPY
HKD
USD
T + 3
Monday ~ Friday
at 16:00
after previous market close

Commission

Please click here for commission details.

Daily Price Limit

TSE has established daily price limits, based on stocks' previous day's closing prices, beyond which prices may not swing. These limits protect investors from distorted price formation as a result of a speculative market or when the supply/demand balance is broken.
Please click here for details.

Depository Information

Please click here for depository steps and related depository bank account information.

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