Since 1996 16 February 16, the Shanghai Stock Exchange and the Shenzhen Stock Exchange have imposed price limits on the trading of listed stocks (including A and B shares) and fund securities respectively, that is, except the securities listed on the first day, the trading price of the above securities shall not exceed 16 relative to the closing price of the previous trading day. The calculation formula is: closing price of the previous trading day × (1 10%). The calculation result is rounded to 0.0 1 yuan, and the entrustment exceeding the price limit is invalid, and the exchange will automatically cancel the order.
Closed-end funds update their income once a week, innovative closed-end funds announce their net value once a day, and other closed-end funds announce it once a week. Closed-end funds are different from open-end funds, and can be purchased and redeemed at any time, and can only be redeemed after the closed period is over. But the net value of closed-end funds, like open-end funds, is calculated by the net asset value/share of the fund.