Nasdaq(US:NDAQ) Zhi Tong Cai Jing·2025-12-16 00:15Core Viewpoint - Nasdaq plans to submit a proposal to the SEC for 24/5 stock trading to meet the growing global demand for U.S. stocks, marking a significant shift in trading hours [1][2]. Group 1: Trading Hours Expansion - Nasdaq will extend daily trading hours from 16 to 23 hours, operating five days a week, with a new schedule that includes a day session (4:00 AM - 8:00 PM) and a night session (9:00 PM - 4:00 AM) [2]. - The new trading week will start on Sunday at 9:00 PM and end on Friday at 8:00 PM, with a one-hour break for system maintenance [2]. Group 2: Market Demand and Globalization - There is a significant increase in demand for night trading, particularly from international investors, as they seek to participate in the U.S. market according to their own time zones [4]. - Nasdaq's move reflects a broader trend of globalization in the U.S. market, with foreign investors holding $17 trillion in U.S. stocks as of last year [1][4]. Group 3: Industry Response - While proponents believe that 24/5 trading will allow quicker responses to market dynamics outside regular hours, major Wall Street banks express caution, fearing potential liquidity decline and increased volatility [3]. - Nasdaq has built a resilient and high-throughput system to handle increased trading activity during market stress [4].