since December 16th, 1996, Shanghai Stock Exchange and Shenzhen Stock Exchange have imposed price limits on the trading of listed stocks (including A and B shares) and fund securities, that is, the trading price of the above securities shall not exceed 1% relative to the closing price of the previous trading day, except for the securities listed on the first day. The calculation formula is: the closing price of the previous trading day × (1 1%). The calculation result is rounded to .1 yuan, and the entrustment exceeding the price limit is invalid, and the exchange will automatically cancel the order. For example, if the closing price of Shenzhen Development (1) on the previous trading day was 17.81 yuan, its price limit today is: the daily limit is 17.8× .9 = 16.29, and it is 16.3 yuan after rounding; The daily limit is 17.81× 1.1 = 19.591, which is 19.59 yuan after rounding; Entrustments between 16.3 yuan and 19.59 yuan are valid, while those below 16.3 yuan and above 19.59 yuan are invalid.