3 minutes a day
Accompany you to make money in Hong Kong stock market!
Hello, everyone, I am the representative of Niuniu class!
Today is a series of courses "20 lectures on Hong Kong Stock Investment".
Lecture 3 "understanding the complete Guide to Hong Kong Stock Trading in 3 minutes"
Niu friends, please pick up the small bench and come to class together.
Starting from today, this course will officially enter the "practical practice of Hong Kong Stock Investment". This article will interpret the introduction of Hong Kong stock trading from the perspective of trading time, trading rules and transaction fees of the HKEx.
I. Trading time
Except general holidays and market closures due to inclement weatherThe Hong Kong stock market usually trades from Monday to Friday.
Do you guys remember the last time the market was closed for special reasons?
Just last Wednesday.Due to the influence of Typhoon signal No. 8, HKEx suspended trading on the morning of the 19th and resumed trading at 01:30 in the afternoon.
The specific trading hours of Hong Kong stocks are as follows:
1. [pre-opening session]
09am / 09am / 09am / 09am
| Period of time | Transaction rules |
|---|---|
| Bidding period 9:00-9:15 | You can submit, modify and cancel bidding market price orders and bidding limit orders. |
| Pre-market session 9:15-9:20 | You can only submit the bidding market price order, and you are not allowed to withdraw or change the bidding market price order and the bidding price limit order. |
| Matching session 9:20-9:28 | For matchmaking during the bidding period, the unmatched market order will be automatically cancelled; the unmatched price limit order will be automatically converted into a limit order and will continue to wait for the transaction when the transaction continues. |
What deserves the attention of all cattle friends is thatHKEx will launch pre-opening session optimization measures in October this year.。
The pre-opening period optimization adopts the relevant bidding design mode of the closing bidding trading period, which aims to improve the pre-opening price discovery and increase the trading circulation.
-HKEx said
First of all,Introduce two-stage price restrictions to prevent excessive price fluctuations after the opening of the market。
In addition, the optimized pre-opening period allows the entry of buying and selling period, irrevocable period and random matching period to input and refute (non-bilateral customer trading) non-automatic matching trading, and endow different stages with corresponding price restrictions.
meanwhile,HKEx will release new market dataFor example, with reference to prices, price restrictions in the first and second stages, and order difference information (direction and quantity) to enhance the transparency of the market.
Last,The optimized pre-opening period covers equity securities, funds, leverage and reverse products.Transactions of structured products, debt securities, equity warrants and equity options are not allowed to be declared.
Note: for more information, please seeInterpretation video released by HKEx
2. [continuous trading period]
That is, during normal trading hours, 9 am, 30 am, 12 am, 13 pm, 00 pm, 16%, 00 am.
| Period of time | time |
|---|---|
| Morning market | 9:30-12:00 |
| Close the market at noon | 12:00-13:00 |
| Noon market | 13:00-16:00 |
Note: order change is not allowed during the noon closed period, and order withdrawal is allowed from 12:30 to 13:00.
3. [closing auction trading period]
Afternoon 16 purse 00 minutes 16 purl 08
Closed on Saturdays, Sundays and public holidays.
| Period of time | Transaction rules |
|---|---|
| Closing auction period 16:00-16:01 | Calculate and publish reference price; non-submissible order |
| Enter order 16:01-16:06 | Bidding market orders and bidding limit orders can be submitted, modified or cancelled, and the price limit of bidding limit orders shall not exceed ±5% of the reference price. |
| 16:06-16:08 cannot be cancelled | Bidding market order and bid limit order can be submitted and cannot be cancelled or changed; the input price of the bid limit order must be between the lowest selling order and the highest buying price |
| Random close 16:08-16:10 | During the random closing period, the bidding market order and the bidding limit order can still be submitted and cannot be cancelled or changed; the input price of the bidding limit order must be between the lowest selling price and the highest buying price. |
II. Trading rules:
1. Transaction mechanism
Hong Kong stocks areTitled 0 transactionStocks bought (short sold) can be sold (bought back) on the same day.
After buying (short selling), investors find mistakes in judgment and can sell (buy back) in time to avoid the expansion of risks and losses.
two。 Settlement mechanism
The settlement mechanism for Hong Kong stocks isT+2That is, for the stocks traded today (T0), the securities company and the clearing house will complete the settlement of funds and stocks on the second trading day (Tunable 2) after liquidation.
For example: T0 is Monday, settlement will be completed on Wednesday; T0 is Thursday, settlement will be completed next Monday.
Note: the above times are all trading days.
3. Cooling-off period
The Hong Kong stock market does not have a 10% suspension system. In a particularly stable market, the trend of Hong Kong's blue chips and H shares is more stable than that of A shares.
But since August 22nd, 2016,Hong Kong Exchanges and Clearing introduced a market volatility regulation mechanism (cooling-off period) to prevent extreme price fluctuations caused by major trading errors or other abnormal events and maintain the normal order of the market.
The so-called "cooling-off period", that isIf 81 constituent stocks of Hang Seng Index and National Index rise or fall 10% within 5 minutes, they will enter a 5-minute "cooling-off period".Investors can only trade within the specified price range, and the market will resume normal trading after a 5-minute cooling-off period, as shown in the following figure:
Note: comprehensiveIntroduction of transaction rules
III. Transaction costs
For more information, please click on the right:Fees for Hong Kong stocks (securities products)Hong Kong stock fees (stock options)
Supplementary knowledge: materials needed to open an account
The second generation ID card of mainland China
Debit cards of the same name for banks in mainland China (it is recommended to use debit cards of ICBC, Agricultural Bank Of China, Bank of China, CCB, Bank of Communications, China Merchants Bank and other banks, only for real name authentication and have nothing to do with the entry and exit of funds)
Email address for receiving Futu-related notices and documents (such as account opening notice, daily statement, monthly statement, etc.)
Do you guys have a good idea of the Hong Kong stock trading rules?
Welcome to the message area for interaction!
In addition, if you have any thoughts on the current and future courses, please don't hesitate to tell us!
The class representative will select 8 participants in the discussion area and give 188 Niuniu points!
Tomorrow to continue the practical class, the fourth lecture "Hong Kong stock information disclosure of the correct unlocking posture" waiting for you!
Don't break up until we see you!
Attached: course link"20 lectures on investing in Hong Kong stocks"
