At present, in addition to our common A-shares in stock market investment, many people have also begun to speculate in Hong Kong stocks.

But for traders who want to invest in Hong Kong stocks, they must understand some of the rules of Hong Kong stocks. After all, there are still many differences between Hong Kong stocks and A-shares.

Today, Financial Manager will talk to you about the difference between A-shares and Hong Kong stocks?

1. Different trading hours: The trading time of Hong Kong stocks opens at 09:30 in the morning, which is the same as that of A shares. However, the trading time of Hong Kong stocks in the morning ends at 12:00, which is half an hour later than that of A shares. In the afternoon, Hong Kong stocks and

A-shares open at 13:00, A-shares close at 15:00, and Hong Kong stocks close at 16:00.

The daily trading time of Hong Kong stocks is one and a half hours longer than that of A shares.

2. A-shares implement T+1, and Hong Kong stocks implement T+0. my country’s A-share market has a T+1 trading system, which means that stocks bought today cannot be sold until the next trading day.

Hong Kong stocks are different. Hong Kong stocks have a T+0 trading system, which means that stocks bought on the same day can be sold on the same day, and there is no limit on the number of times. 3. Different settlement systems. my country's A-share market implements T+1 trading. The settlement system means that the funds for stocks sold on the same day can be purchased directly on the same day, but the stocks sold will not arrive until T+1 day; Hong Kong stocks implement the T+2 settlement system, that is, the stocks sold The shares cannot be used to withdraw cash until two days later.

4. Different price limits: A shares have a price limit of ±10%, and ST stocks have a price limit of ±5%.

There is no limit on the rise or fall of Hong Kong stocks. In Hong Kong stocks, stocks with gains of more than 30% appear almost every day.

5. Different clearing rules. my country’s Shanghai Stock Exchange has centralized clearing, centralized registration, and adopts a three-level clearing model; while the Shenzhen Stock Exchange has centralized clearing, decentralized registration, and a two-level clearing model.

The clearing and settlement of Hong Kong stocks is the responsibility of Hong Kong Clearing House.

6. Different trading lots. The minimum trading lot size for A-shares is 1 lot, which is 100 shares. It is different for Hong Kong stocks. For example, for HSBC, the minimum trading lot size is 400 shares per lot.

7. There is no unified regulation on the par value of Hong Kong stocks with different par values. The par value of A shares is unified to one yuan.

The most common face values ??of Hong Kong stocks are one dollar, one dime and one cent.

One point is also called a penny, and this is where the penny stocks we often call come from.