OSE begins last day of cash stock trading

The Osaka Securities Exchange began its last day of cash stock trading Friday before its listed shares are transferred to the Tokyo Stock Exchange on Tuesday following a three-day weekend in Japan.

The OSE will converge on derivatives trading in line with an agreement between the two bourses, both now placed under the umbrella of Japan Exchange Group Inc., to integrate their derivatives operations on March 24.

The average index for 250 major shares of the OSE's First Section finished morning trading at 23,512.36, up 147.82 points from Thursday, on the back of the overnight rise on Wall Street.

The OSE yardstick hit a peak of 39,403.83 on Jan. 4, 1990, during the heyday of the asset-inflated bubble economy in Japan.

The two bourses will make a final check on the trading system during the long weekend to prepare for the merger of cash stock trading, their officials said.

Monday is Marine Day, a national holiday in Japan.