- pre-open auction session: 930 - 1000
- morning session: 1000 - 1230
- extended morning session: 1230 - 1430 (for extended trading securities only)
- afternoon session: 1430 - 1600
- half-day trading (ie, no extended morning and afternoon sessions) on eves of Christmas, New Year and Lunar New Year
2. pre-open session break down
a) 930 - 945 (order input period)
- input of both at-auction limit orders and at-auction orders
- orders mod or cxl
b) 945 - 950 (pre-order matching period)
- input of at-auction orders only
- no order mod or cxl
c) 950 - 958 (order matching period)
- orders are matched at the final Indicative Equilibrium Price
d) 958 - 1000 (blocking period)
- a break between pre-open and continuous trading sessions; no order input, mod or cxl
e) at the end of pre-open session, all unmatched orders shall be cancelled and deleted from the exchange automatically except for those at-auction limit orders whose specified price does not deviate 9 times or more from nominal price at that time
3. cancellation of orders
- orders entered in the morning session is permitted to cancel from 30 minutes before the afternoon trading session of the same trading day
4. trade prices
- closing price: median of last five nominal price at 15-second interval from 1559 to 1600.
- previous closing price
- open price: indicative equilibrium price
- day low price
- day high price
- bid price
- ask price
- current bid price
- current ask price
5. indicative equilibrium price (IEP) and indicative equilibrium volume (IEV)
- IEP is the price at which the max number of shares (IEV) can be traded if matching occurs at that time point; they're continuously re-calculated and updated each when a new order comes in during the order input period of the pre-opening session
6. types of orders
- at-auction limit order (orders with specified price during pre-open session)
- at-auction order (orders without specified price during pre-open session)
- limit order (only limit orders permitted during continuous trading session)
-- limit order
-- enhanced limit order
-- special limit order
7. epic codes for all HK listed stocks are numeric; different stocks have different board lots
8. ticks
- dependent on the current share price
| Share price (HK$) | Tick size |
|---|---|
| 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 | 0.10 |
| 200.00 - 500.00 | 0.20 |
| 500.00 - 1,000.00 | 0.50 |
| 1,000.00 - 2,000.00 | 1.00 |
| 2,000.00 - 5,000.00 | 2.00 |
| 5,000.00 - 9,995.00 | 5.00 |
9. tolerance level
- 24 ticks (or 9 ticks for 1 bid/ask made in pre-open session)
10. settlement
- T+2
11. for more details
www.hkex.com.hk
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