什么是拆分股？
本文将为您介绍拆分股（拆股与合股）的概念，以及美股和港股市场中拆分股的处理时间。了解这些内容，有助于您在投资过程中更好地理解股票数量和价格的变化，以及相关市场操作规则。
1. 拆股
拆股，又称分割。当一只股票的价格较高，影响股票的交易量影响投资人（尤其是散户）的购买欲望，这时股份公司就会考虑将股票拆股，分割股票后，股东权益不变，公司的总市值也不变，但是持仓数量会发生变化。在拆股过程中有可能会产生一个临时股票代码，但最后都会恢复到一个股票代码。
举例：
00700 腾讯控股曾经在 2014-05-15 由 1 股拆分为 5 股，持有 100 股，那么就会被拆成 500 股，市场价格会下降，总市值不变。
拆股前，100 股 *120HKD=12000 价值
拆股后，500 股 *24HKD=12000 价值
市场价格降到 24 港币一股了，就会方便散户投资参与，增加市场流动性。
2. 合股
合股是拆股的相反过程，当股票价格较低时，为了提升公司形象，上市公司会将已发行的股票按比例进行合并，即由多股合并为 1 股。合股后，股价按照相应比例提高，股东权益不变，公司的总市值也不变，但是持仓数量会发生变化。
3. 处理时效
- 美股：根据交易所提供的拆合股生效时间（effective date），交易日盘前开盘前会完成整个拆合股过程，盘前交易会交易已经过拆合的股票。
- 港股：根据交易所提供拆合股生效时间（effective date）收市后完成拆合股及临时交易代码的变更。下一个交易日开市时段可以交易已经过拆合的股票。
本文内容仅供参考，不构成任何投资建议。
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