Investor Presentaiton
Trading Information.
Trading on Hong Kong Holidays Open only:
Order Types
Order Modification
Board Lot
Odd Lot
Max Order Size
Spread
Price Limit
Day (Turnaround) Trading
Manual Trade / Block Trade
Margin Trading
Stock Borrowing & Lending
(SBL)
Short Selling
Non-trade Transfer
•⚫ both SEHK and SSE/SZSE are open for business; and
banking services of both markets are open on the corresponding money settlement days
Limit orders only (SSE/SZSE limit orders may be executed at or better than the input price)
Not allowed (must cancel and re-input order)
100 shares (applicable to buy orders only)
Sell orders only (should be made in one single order)
1 mn shares
Uniform at RMB 0.01
•In general ±10% on previous closing price (±5% for ST and *ST stocks)
•Price of buy orders must not be lower than 3% of current best bid price (in its absence the latest trade price; and in the
absence of both then previous closing price)
Not allowed
Not allowed
•Only eligible A shares are allowed
•SSE/SZSE may suspend margin trading in specific A shares if the volume of margin trading in such A shares exceeds a
certain threshold
•Only allowed for (i) covered short selling and (ii) meeting pre-trade checking
•Only eligible persons may lend China Connect Securities
•Only eligible A shares are allowed (see List of Eligible SSE/SZSE Securities for Short Selling)
•Short selling orders must be (i) flagged; (ii) in multiple of 100 shares and (iii) subject to tick rule
•Short selling quantity of is subject to a daily limit (1%) and a 10-day cumulative limit (5%)
⚫SSE/SZSE may suspend short selling of specific A shares if the short selling activities of such A shares exceed a certain
threshold
•There are reporting requirements (Short Selling Weekly Report, Large Open Short Position Report)
•Short selling statistics are available on HKEX website to facilitate short selling
Allowable for:
⚫SBL for covered short selling purpose (not more than one month duration);
⚫SBL for the purpose of satisfying the pre-trade checking (1 day duration which cannot be rolled over);
•Transfers between EPs and their clients for the purpose of rectifying error trades;
•Post-trade allocation of shares to different funds/sub-funds by fund managers;
⚫Other situations specified by SSE, SZSE and ChinaClear.
3 C
Source: http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/Documents/Briefing%20to%20Participants%20on%20Shenzhen-Hong%20Kong%20Stock%20Connect.pdf
Data as of Aug 2016
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