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Hong Kong Stock Exchange (HKEX)

The primary stock exchange in Hong Kong.

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Currency: Hong Kong Dollar (HKD)

Trading Hours & Calendar

Trading Summary

HKEx upgraded to the AMS/3.8 system for order matching and MDS/3.8 system for market data in December 2011. More detail on the trading infrastructure can be found here.

Lit Order-types

Limit Buy/Sell/Short (DAY/On Open)
Market Buy/Sell/Short (DAY/On Open)

Basic Market Rules

Lot Size is set at the security level, with all lot sizes listed here.
Tick Size varies with price as defined in the Second Schedule of the Rules of the Exchange found here.

Price Range	Tick Size
From 0.01 to 0.25	0.001
Over 0.25 to 0.50	0.005
Over 0.50 to 10.00	0.010
Over 10.00 to 20.00	0.020
Over 20.00 to 100.00	0.050
Over 100.00 to 200.00	0.100
Over 200.00 to 500.00	0.200
Over 500.00 to 1,000.00	0.500
Over 1,000.00 to 2,000.00	1.000
Over 2,000.00 to 5,000.00	2.000
Over 5,000.00 to 9,995.00	5.000

Short Sale Rules: Naked short selling is prohibited and short sell orders must be properly marked. More information can be found here.
Circuit Breakers: HKEx limits order entry to prices +/- 25 spreads from the nominal price; maximum order size if 3000 round lots. In addition details on mechanisms in place to monitor price movement can be found in their FAQ section regarding suspension of trading on a security.

Auction Mechanisms

Open

HKEx has a pre-opening session, described in detail here which runs as follows:

Period	Time
Order Input Period	From 09:00:00 to 09:15:00
Pre-Order Matching Period	From 09:15:00 to 09:20:00
Order Matching Period	From 09:20:00 to 09:28:00
Blocking Period	From 09:28:00 to 09:30:00

Close

There is no closing auction in Hong Kong, however the closing price calculation is described here.

Additional Info

References

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