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:
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.
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 canceled or amended during the Lunch Break. | |
| 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.
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
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.
Short-Selling Rules
Short-selling of Hong Kong stocks is currently not supported
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.
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.
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 | 0.02 |
20.00 - 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 |