Trading Rules

Hong Kong Stock Trading Hours

Except for public holidays and the market closure due to bad weather, the Hong Kong stock market generally trades from Monday to Friday. The trading hours are as follows:

1. Pre-opening Session

Periods	Full Day Trading & Half Day Trading*	Trading Rules
Order Input Period	9:00am - 9:15am	Orders can be entered, amended, or canceled.
No-cancellation Period	9:15am - 9:20am	Only at-auction limit orders (ALO) and at-auction orders (AO) can be entered, and no orders can be amended or canceled.
Random Matching Period	9:20am - up to 9:22am	Matching orders during the auction period. (orders can be entered, but cannot be canceled or amended)
Blocking Period	After matching - 9:30am	Oders can no longer be entered, amended, or canceled.

*Eves of Christmas, New Year, and Lunar New Year.

2. Continuous Trading Session

Periods	Full Day Trading	Half Day Trading*	Trading Rules
Morning Session	9:30 - 12:00	9:30 - 12:00	Orders can be entered, amended, or canceled. Enhanced limit orders (ELO) are supported.
Lunch Break	12:00 - 13:00		Orders entered during the Lunch Break can be canceled or amended; orders that have not been executed during the Morning Session cannot be amended during the Lunch Break, order cancel is available to submit after 12:30.
Afternoon Session	13:00 - 16:00		Orders can be entered, amended, or canceled. Enhanced limit orders (ELO) are supported.

*Eves of Christmas, New Year, and Lunar New Year.

3. Closing Auction Session

Periods	Full Day Trading	Half Day Trading*	Trading Rules
Reference Price Fixing Period	16:00 - 16:01	12:00-12:01	The Reference Price is calculated and set; no orders can be entered.
Order Input Period	16:01 - 16:06	12:01-12:06	At-auction limit orders (ALO) and at-auction orders (AO) within the ±5 percent price limit can be entered, amended, or canceled.
No-cancellation Period	16:06-16:08	12:06-12:08	At-auction limit orders (ALO) and at-auction orders (AO) can be entered but cannot be canceled or amended; the prices must be between the lowest ask and highest bid.
Random Closing Period	16:08-16:10	12:08-12:10	At-auction limit orders (ALO) and at-auction orders (AO) can still be entered but cannot be canceled or amended; the prices must be between the lowest ask and highest bid.

*Eves of Christmas, New Year, and Lunar New Year.

Hong Kong Stock Trading and Settlement Mechanism

1. Day trading

Day trading is a mode of trading where a client buys or sells a certain stock or stock option position on the same trading day. Day trading is often referred to as T+0 trading. Longbridge accounts can engage in unlimited day trading.

2. Short-Selling Rules

Short-selling of Hong Kong stocks is currently not supported

3. Clearing Rules

Hong Kong stocks are subject to a T+2 closing system under which the clearing and closing process is not completed until the second business day after the transaction.

4. Minimum Board Lot Size and Price Limits for Hong Kong Stocks

The minimum board lot size for Hong Kong stocks is 1 lot, while stocks with less than one lot are odd lots, and there is no single-day price limit.

5. Minimum Stock Tick Size

Minimum stock tick size:

Stock price (HKD)	Tick size (HKD)
0.01 - 0.25	0.001
0.25 - 0.50	0.005
0.50 - 10.00	0.01
10.00 - 20.00	0.01
20.00 - 50.00	0.02
50.00 - 100.00	0.05
100.00 - 200.00	0.1
200.00 - 500.00	0.2
500.00 - 1,000.00	0.5
1,000.00 - 2,000.00	1
2,000.00 - 5,000.00	2
5,000.00 - 9,995.00	5

Minimum ETF tick size:

Stock price (HKD)	Tick size (HKD)
0.01 - 1.00	0.001
1.00 - 5.00	0.002
5.00 - 10.00	0.005
10.00 - 20.00	0.01
20.00 - 100.00	0.02
100.00 - 200.00	0.05
200.00 - 500.00	0.1
500.00 - 1,000.00	0.2
1,000.00 - 2,000.00	0.5
2,000.00 - 9,999.00	1