Generally speaking, the stock exchange stipulates that the daily rise and fall of stocks in an A-share market is ±10%, and the daily rise and fall limit of stocks starting with S or ST is ±5%. If this The stock has risen today, and the maximum limit is 10%, which is the daily limit. If it falls, the maximum limit is -10%, which is the downward limit. If stocks starting with S or ST stop rising when they rise to +5%, this is also the daily limit, and when they fall by 5% it is the lower limit. There are no restrictions on the first day of new listings. This regulation is a characteristic of the Chinese stock market.

The price limit mechanism for Hong Kong stocks

The market fluctuation adjustment mechanism proposed by the Hong Kong Stock Exchange is regarded by the outside world as similar to the "price limit" mechanism. During the continuous trading period, the stock price will be limited to The upper and lower limits of the last transaction price 5 minutes ago are 10%, and the price limit for derivatives is 5%. If the price range is exceeded, a 5-minute cooling-off period will be triggered. Trading can still continue during the cooling-off period, and the volatility is limited to 10%. It will return to normal after the 5-minute cooling-off period.

Only covers blue-chip and China Index component stocks

The relevant mechanism only covers Hang Seng Index and China Index constituent stocks, as well as current month and next month index futures contracts and small-cap futures contracts, and does not Including warrants and CBBCs. There will be no adjustment mechanism in the last 15 minutes before the end of lunch to give the market space for risk management. A maximum of four "cooling off periods" can be triggered on each trading day, that is, a maximum of two "cooling off periods" each in the morning market and in the afternoon market.