1, 60 stocks listed on the main board of Shanghai Stock Exchange and 00 stocks listed on the main board of Shenzhen Stock Exchange, with the highest increase of 44% and the largest decline of 36% on the first day of listing. After the next day, the price limit of 10% will be implemented, and the price limit of ST and *ST stocks will be 5%.

2. Science and Technology Innovation Board of Shanghai Stock Exchange 68. Stocks at the beginning of Growth Enterprise Market 30 of Shenzhen Stock Exchange: There is no price limit in the first five trading days, and the price limit of 20% will be implemented from the sixth trading day, and the price limit of ST stocks will still be 20%.

3. The stock number of Beijing Stock Exchange starts with 8, and there is no price limit on the first day of listing, and then the price limit is 30%.

4. New Third Board basic and innovative stocks: there is no limit on the first day of listing, and then the daily limit is 50%, and the daily limit is 100%.

Price fixing is a measure to stabilize the market.

In addition, overseas financial markets also have measures such as market disconnection and suspension, speed-limited trading, special quotation system, declared price and trading price limit, adjustment of experts or market intermediaries, and adjustment of trading margin ratio.

There are three measures commonly used in China futures market: price limit, suspension of trading and adjustment of trading margin ratio. Regarding the effect of price limit, academic research has not reached a consistent conclusion. Supporters of the price limit board claim that the price limit board has two properties that can reduce the volatility of futures prices.

First, as the name implies, the price limit has a daily limit and a daily limit, and the daily futures price will inevitably fluctuate between the daily limit.

Second, the price limit provides a cooling-off period, allowing investors time to re-evaluate futures prices rationally. Greenwald and Stein( 1988) point out that price truncation triggered by price limit can provide traders with enough time to analyze information, thus reducing the uncertainty of market price and the degree of information asymmetry.

Price limit-the price limit comes from the price limit. The term "daily limit board" or "daily limit board" originated from the fact that in the past auctions of foreign exchanges, wooden boards were used to knock on the table to indicate a deal or stop trading. When this method is applied to the stock market, when the stock price rises to the upper limit or falls to the lower limit, it is called daily limit or daily limit.

But the transaction is not limited to price increase or price decrease, and the transaction continues, but the price remains unchanged. Under normal circumstances, in order to avoid excessive stock volatility and speculation, the relevant departments will set a fluctuation range.

exceptional case

However, in the following cases, the stock is not limited by the fluctuation range:

1, the first day of IPO (the price shall not be higher than 144% of the issue price and shall not be lower than 64% of the issue price).

2. share reform (starting with s, but not ST) completes the share reform and resumes trading on the first day.

3. On the day of listing of additional shares.

4. After the share reform, the stock failed to meet the expected index and caught up with the day of listing.

5. Some major assets reorganization stocks, such as mergers and acquisitions, which resumed trading on the same day.

6. The day when delisted stocks resume listing.