ASX will not extend trading hours

THE head of the Australian Securities Exchange has abandoned his push for trading hours to be extended so they align with key Asian markets.

ASX chief executive Elmer Funke Kupper floated the idea of Australian trading hours being extended by two hours to 6pm AEDT when he took up his role in October 2011.

But Mr Kupper said Australia's financial markets were geared to close at 4pm AEDT, and a later closing time would be "incredibly expensive" to administer.