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You mean rather up to 8? :-)

Since Japan has no daylight saving time, for us German investors it means that the stock exchange is open from 2:00 to 4:30 and 5:30 to 8:00 in the summer. In winter, it is one hour earlier, from 1:00 to 3:30 and from 4:30 to 7:00.

For domestic investors, this means that the traditional stock exchanges have no overlap with the Japanese stock market. But there is a gap: The LS Exchange and also Lang & Schwarz in over-the-counter trading start trading as early as 7:30 am. This means that we have a 30-minute overlap with Japan from 7:30 to 8:00. During this time, the broker knows the reference rates in Tokyo and offers correspondingly lower spreads. You can see this here with an example:
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@Dreamliner using the example of Ebara:

8:00-8:30: Price: 84.25€ Buy: 84.44€
Spread: 0.225%
8:30-9:00: Price: 84,25€ Buy: 85,00€
Spread: 0.89%
9:00-9:30: Price: 84,25€ Buy: 85,00€

My spread was usually between 1.5% and 2%. But you could be right that the spread is not lower until 9:00, but only until 8:30.

Unfortunately, I can no longer provide concrete evidence for MHI, as there was a stock split on April 1st.
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@MrMister always depends on the value. About trade Republic it was always best at 7.30 - 8
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