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1. Trading Rules

Hong Kong stocks are T+0 transactions, and stocks bought (shorted) on the same day can be sold (buyback) on the same day.

After buying (short selling), investors find that they have made a mistake in judgment and can sell (buyback) in time to avoid risks and losses.

2. Settlement rules

The Hong Kong stock settlement rules are T+2, that is, for stocks traded today (T0), the securities company and the clearinghouse will complete the settlement of funds and stocks on the second trading day (T+2).

For example, T0 is Monday, and settlement will be completed on Wednesday; T0 is Thursday, and settlement will be completed next Monday.

Note: The above times are all trading days.

3. Limit on HK stock price volatility

The Hong Kong stock market does not have a 10% trading suspension system. In an exceptionally stable market environment, the trend of Hong Kong's large-cap blue-chip stocks and H shares is more stable relative to A-shares.

However, starting from August 22, 2016, the Hong Kong Stock Exchange has launched a market fluctuation adjustment mechanism (cooling-off period) to prevent extreme price fluctuations caused by major trading errors or other abnormal events and maintain the normal order of the market.

The so-called "cooling-off period" means that if the 81 HSI and HSCEI constituent stocks rise or fall by 10% within 5 minutes, they will enter a 5-minute "cooling-off period". Investors can only trade within the specified price range. After the 5-minute cooling-off period, the market will resume normal trading.

4. Stock Prices Changes

4.1 Table of HK Stock Price Changes

The minimum price change of each Hong Kong stock is determined according to its share price.

Range of Share Price	Minimum Price Change
0.01–0.25	0.001
0.25–0.50	0.005
0.50–10.00	0.010
10.00–20.00	0.020
20.00–100.00	0.050
100.00–200.00	0.100
200.00–500.00	0.200
500.00–1,000.00	0.500
1,000.00–2,000.00	1.000
2,000.00–5,000.0	2.000
5,000.00–9,995.00	5.000

4.2 Table of Price Changes of ETFs and Leveraged and Inverse Products (Effective on June 1, 2020)

The minimum price changes of ETFs and leveraged and inverse products are determined according to their share price.

Range of Share Price	Minimum Price Change
0.01–1.00	0.001
1.00–5.00	0.002
5.00–10.00	0.005
10.00–20.00	0.010
20.00–100.00	0.020
100.00–200.00	0.050
200.00–500.00	0.100
500.00–1,000.00	0.200
1,000.00–2,000.00	0.500
2,000.00–9,999.00	1.000

Note: Some fixed-income ETFs are subject to the following minimum price change (for specific products, please refer to the information from the Hong Kong Stock Exchange).

Range of Share Price	Minimum Price Change
0.50–9,999.95	0.050