curiouser and curiouser, TSE

boring stock market related entry!

I mentioned a couple oddities regarding the Tokyo Stock Exchange earlier, but I was missing out on the biggest one. On days when the market is open, trading is in some sense (I'm still trying to parse out what sense) is interrupted from 11:00 to 12:30. Consequently, there are two opening and closing prices each day.

Also, in lieu of the regular after-hours trading I was used to in the states, there's a strange "auction" that occurs at both opening and closing. For all I know, this also occurs in the US stock markets, but it sure as hell doesn't ring any bells.

Since I know my regular readers are very enthralled with the machinations of the Japanese stock market (sarcasm-face!), I'll try to update this entry when I finally parse out what's really going on with these two phenomenon.

Update!
Well, the auction question is answered here... about as enlightening an answer as I could hope for. And, yes, the stock market really does just stop. That auction system is used at both of the market openingS, at 9:00 and at 12:30 to determine stock prices.

I think the stock tradin' folks need extra time to go stand in rilly long lines for the popular ramen-ya of the week.