Stocks can be bought and sold at any time during trading hours, but stocks bought on the same day cannot be sold on the same day. Buying and selling at any time here means that investors can buy other stocks at any time with the funds obtained from selling stocks on the same day, but the stocks bought on the same day cannot be sold on the same day and need to be sold the next day. Because the China A-share trading rule is T 1, that is, the shares bought on the same day can only be sold the next day.

"t refers to the transaction registration date, and T 1 refers to the second day of the transaction registration date. T 1 is a stock trading system, that is, stocks bought on the same day can only be sold on the next trading day. T 1 system starts from 1995 65438+ 10/0/month, mainly to ensure the stability of the stock market and prevent excessive speculation.

At present, the China stock market implements the liquidation system of T 1 in China stock market, and the futures market implements the liquidation system of T 0. The trading system of securities (or futures) and the price settlement and delivery procedures on the day of securities (or futures) trading are called T 0 trading. Generally speaking, securities (or futures) bought on the same day can be sold on the same day.

China stock market implements T 0 trading. Because the securities market is immature, the market price fluctuates abnormally. In order to ensure the stability of the securities market, China Stock Exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange adopt the T- 1 trading mode for stock and fund trading.