The global financial market never sleeps – somewhere in the world, there is a stock market that is open for trading – and market opportunities don’t always keep business hours.
Supported by advances in technology, the global financial ecosystem has essentially embraced a “follow-the-sun” model, giving traders and investors in South Africa the ability to keep getting their share of global markets even after the JSE goes dark.
Known as after-hours trading, these capabilities mean investors in South Africa can purchase US stocks during our daylight hours, or use the overlap with the US pre-market to react to US earnings and news in real time.
Three Types of After-Hours Trading
After-hours trading refers to buying and selling assets – primarily stocks and currencies – after the regular market session closes (typically between 4:00 pm and 8:00 pm).
Extended hours trading can also include pre-market sessions before the market opens, which typically run from 4:00 am to 9:30 am.
Trading platform technology is also helping to bridge the gap between the post-market and pre-market period, enabling overnight trading by matching buy and sell orders internally or through alternative venues rather than a central exchange.
From Business Hours to 24/7 Markets
While after-hours trading was mostly used by institutional investors initially, app-based trading platforms have made it possible for retail investors to get in on the action as well.
Currency trading (FX) was the pioneer of 24/5 trading. As a decentralised, over-the-counter (OTC) market, trading begins Sunday evening in Sydney and runs continuously until Friday evening in New York.
In contrast, stocks have been historically rigid, but exchanges and platforms are now entering the 23/5 and 24/7 era. In late 2025 and early 2026, the NYSE and Nasdaq filed to extend sessions to 22 or 23 hours a day to meet demand from global investors across time zones.
The newest evolution involves blockchain-based platforms where synthetic or tokenised versions of stocks trade 24/7 with instant settlement, bypassing the traditional T+1 (trading day + 1 business day) clearing cycle.
While these platforms offer continuous trading, they may carry additional regulatory, counterparty, or pricing risks that differ from traditional exchanges.
After-Hours Trading Opportunities and Risks
Traders and investors mainly leverage after-hours trading to react to global breaking news or earnings reports, which are typically released after normal business hours.
After-hours trading allows DIY investors to potentially benefit from price movements without waiting for the next business day.
For example, if a major US tech company releases earnings at 10:00 pm South African Standard Time (SAST), its share price may move sharply before the next trading day. After-hours access allows investors to react immediately rather than waiting for the market open.
However, the after-hours market is not without its perils. Lower volume and limited liquidity during extended hours introduce significant risks; heightened volatility, wider bid-ask spreads, and price uncertainty mean that liquidity can evaporate instantly, causing prices to gap sharply between trading sessions.
Big price swings can also happen following a global event, like a war, the announcement of a CEO resigning, or a trading update that beats or falls short of market expectations.
DIY investors can manage the risks associated with after-hours trading with stop-loss orders and limits, which automatically close a trade when the price hits a pre-determined level.
