From Wikipedia, the free encyclopedia
Trading board of Korea Exchange
KOSDAQ
(acronym of
Korean Securities Dealers Automated Quotations
,
Korean
:
코스닥
) is a trading board of
Korea Exchange
(KRX) in
South Korea
established in 1996. Initially set up by
Korea Financial Investment Association
as an independent
stock market
from the Korean Stock Exchange, it was benchmarked from the American counterpart,
NASDAQ
.
KOSDAQ is an electronic stock market, just like NASDAQ. The open hours for the market are 09:00AM to 03:30PM
KST
.
It is now operated as SME Market Division of KRX. As of February 2021, 1476 companies are listed on KOSDAQ for trading.
[1]
History
[
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]
The
South Korean Government
, in July 1986, passed the "Market Organization for Vitalization of Publicly Traded Assets for Small Businesses Act" in order to provide a way for small and intermediate businesses to raise capital through
publicly traded shares
, and to provide investors with new routes of investments. In April 1987, the Market Organization was achieved, and the first three companies were registered.
In May 1996, the KOSDAQ Securities Exchange (코스닥證券市場) was established in order to vitalize, modernize and fully computerize the market. KOSDAQ went into fully service on July 1, 1996.
During the
1997 Asian financial crisis
, KOSDAQ market indexes plummeted and investors suffered heavy losses, but due to the quick recovery of the South Korean Economy, KOSDAQ saw rapid recovery and increase in market capitalization through the early 21st century.
See also
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References
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External links
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