Customer Support
400-18-95538/ 3979 2890(Hong Kong)
Shenzhen-Hong Kong Stock Connect is a mechanism established for connectivity of trading and clearing between Shenzhen and Hong Kong securities markets. The mechanism involves Northbound Trading and Southbound Trading.
With Northbound Trading, investors, through their Hong Kong brokers and a securities trading service company to be established by SEHK, will be able to place orders to trade eligible shares listed on SZSE by routing orders to SZSE.
With Southbound Trading, eligible investors, through Mainland securities firms and a securities trading service company to be established by SZSE, will be able to place orders to trade eligible shares listed on SEHK by routing orders to SEHK.
Northbound Trading | Southbound Trading | |
---|---|---|
Qualification | ChiNext only open to institutional professional investors | Institutional investors or holders of personal account with no less than RMB500,000. |
Investment Products | 1. Constituents of - SZSE Component Index- SZSE Small/Mid Cap Innovation Index* With market capitalisation at least RMB 6B 2. A shares of SZSE-SEHK A+H | 1. Constituents of - HS Comp LargeCap Index - HS Comp MidCap Index - HS Comp Small Cap Index (with market capitalisation at least HK$5B) 2. H-shares of SSE-SEHK A+H 3. H-shares of SZSE-SEHK A+H |
Ineligible Products | Risk alert shares and shares not traded in RMB | H shares with respective A shares under risk alert, or shares not raded in HKD |
Daily Quota | RMB13 billion | RMB10.5 billion |
Number of Tradable Stocks (As of 2016/08/31) | 880 | 417 |
Trading Hours | Opening call auction hours | Pre-opening hours |
09:15 - 09:25* | 09:00 - 09:30 | |
Continuous auction hours | Continuous trading hours | |
09:30 - 11:30*-13:00 - 14:57* | 09:30 - 12:00 13:00 - 16:00 | |
Closing Call Auction hours | Closing Auction Session | |
14:57 - 15:00* | 16:00 - 16:10 | |
Trading Currency | Trading and settlement by RMB | Trading and settlement by RMB |
Stock Code | 6 digits (Eg: GF SEC A Share code: 000776) | 5 digits (Eg: GF SEC H Share code: 01776) |
Order Type | Limit orders only | Pre-opening session: At-auction limit orders only Continuous Trading Hours: enhanced limited orders only Closing Auction: At-auction limited orders only |
Day Trading | Not Allowed | Allowed |
Odd Lot | Selling only | Selling only, offers possibly inferior to market prices |
Short Selling | Allowed | Not Allowed |
Margin Financing | Allowed | Allowed |
IPO Subscription | Not Allowed | Not Allowed |
Lot Size | 100 shares | Varies among stocks |
Order Size Limit | 1 million shares | 3000 Lots |
Minimum Spread | RMB0.01 | Depends on stock price |
Volatility Restriction | ±10% against previous closing price or ±5% against previous closing price for stocks under risk warning | Under Volatility Control Mechanism (VCM), HSI & HSCEI constituent stocks will put into a cooling off period for 5 minutes if the stock price fluctuates more than 10% from the reference price from 5 minutes ago. Maximum of 1 trigger in morning and afternoon session. |
Settlement Cycle | T for stocks; T+1 for funds | T+2 for stocks and funds |
Shareholder Voting | Through CCASS’s existing voting functions | ChinaClear to collect and submit votes |