The Asian session refers to the period of time when the Asian markets are open. It is the earliest session of a given trading day and the first to open after the weekend. The term is often interchangeably used with the Tokyo session; however many countries including China, Australia, New-Zealand and Russia are also present during these hours. Therefore, the Asian session is longer than the Tokyo session, running between 11pm and 8am GMT. These hours change when daylight savings time is observed.