The trading hours of Hong Kong stocks and A shares are as follows:
First, the difference between the price limit system
In the mainland A-share market, there is a price limit system, that is, if the price of a stock rises or falls by more than a specified percentage. Then the stock will stop trading for a period of time, so on a certain trading day, the fluctuation of a stock price is limited.
In the stock exchange market, there is no price limit system, so the stock price fluctuation may be relatively more intense. Investors should pay full attention to the risk that Hong Kong stocks may face a lot of losses when prices fluctuate greatly.
First, the difference between the stock settlement system
In the mainland A-share market, the settlement period is generally T+ 1, that is, the shares sold on the same day, and investors can receive the money the next day. In contrast, the settlement cycle of securities and brokers in Hong Kong market is T+2 days, that is, it takes investors at least 2 days to receive money after selling shares.
Investors should pay in full before buying shares, and before selling shares, they must also keep enough shares with the relevant stock brokers. In view of this difference, investors should first learn about the payment and settlement arrangements of Hong Kong stocks from securities companies and do a good job in liquidity management before participating in Hong Kong stock investment.
Extended data:
Hong Kong Stock Exchange Rules
First, the trading system AMS/3
With the expansion of the securities market and the need of the internationalization of the future exchanges, the Hong Kong Stock Exchange launched the third generation automatic matching and closing system (AMS/3) in June 2000. AMS/3 connects investors, exchange participants, other participants and the central market, making the trading process more efficient.
Two. Exchange trading rules
Securities trading in an exchange shall comply with the relevant provisions of the rules of the exchange. The more important rules are as follows:
1, price
Every security traded on an exchange is traded at a specific "price", which represents the minimum range of price increase or decrease and is related to the price range of the securities.
The exchange price list stipulates that the stock price ranges from 0.0 1-0.25 Hong Kong dollars (the price is 0.00 1 Hong Kong dollars) to 1000-9995 Hong Kong dollars (the price is 2.50 Hong Kong dollars). When the price of a stock rises or falls to another price range, its price will also change.
2. Opening price
The rules of the exchange stipulate that the "opening price" should be carried out according to procedures to ensure the continuity of prices between two adjacent trading days and prevent the market from fluctuating violently when the market opens: the first buy or sell order entering the trading system on each trading day is regulated by the opening price rules. The price of the first order cannot exceed the previous day's closing price by 4 prices.
Three. Settlement and delivery
The settlement and delivery procedures of various products of HKEx are handled by Hong Kong Clearing House, Option Clearing Company and Futures Clearing Company respectively. Among them, the Hong Kong Clearing House is responsible for the settlement and settlement of qualified securities traded on the main board of the Stock Exchange and the Growth Enterprise Market.
1, continuous net settlement system
Hong Kong adopts a continuous netting system. Under the continuous net settlement system, the securities purchased or sold by each CCASS participant from other CCASS participants will be offset by rolling, and the remaining net purchase or net sale share will be used as the settlement standard.
2.T+2 transfer system
Exchange participants must complete the settlement with the central settlement system before 3:45 pm on the second trading day after each trading day (T day), which is generally called the "T+2" day settlement system.
Baidu encyclopedia-hong kong stocks
Baidu encyclopedia -A shares