Reason: The call auction stage shows not the transaction price, but the price that reminds you of the maximum possible turnover of all commissions received so far. With the continuous arrival of follow-up commissions, this price is constantly changing. Only when the final opening price is generated at 9: 25, can you trade according to the opening price.

Extended data:

Transaction sequence

The formation of the transaction price in call auction is roughly as follows: the price that can achieve the maximum transaction volume among all declared prices is set as the transaction price, and all eligible declared commissions are traded at this price, and marked as the opening price.

In the process of call auction, the transaction is also based on the principle of "price first, time first". If the declared price is the same, then whoever declares early will make a deal first. Declaring the number of buying and selling lots is not the principle of bidding. Therefore, some investors believe that "the banker can make a deal first because of the large number of declarations, while the small and medium-sized retail investors can't make a deal because of the small number of declarations" is unfounded.

Some investors have encountered this situation: several times, the declared price met the opening price conditions, and the time met the call auction conditions, but the transaction could not be concluded.

At this time, we can check whether there is such a possibility: in call auction, if the price is the same, but there are only 50 consignments for application and sale, but there are 100 consignments for application and sale, then, according to the principle of time priority, the last 50 consignments for application and sale cannot be concluded within call auction time, so they can only participate in continuous bidding.

Baidu encyclopedia-outcry auction