Clients can trade certain stocks listed on the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) through the Stock Connect program (Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect).

 

  • Shanghai-Hong Kong Stock Connect: Includes constituent stocks of the SSE 180 Index and SSE 380 Index, as well as A-shares listed on the SSE that are also dual-listed and traded as H-shares on the Hong Kong Stock Exchange (HKEX).
  • Shenzhen-Hong Kong Stock Connect: Includes constituent stocks of the SZSE Component Index and SZSE Small/Mid Cap Innovation Index with a market capitalization of RMB 6 billion or above, as well as A-shares listed on the SZSE that are also dual-listed and traded as H-shares on HKEX.

 

1.    Eligible Stocks

The stock codes for Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect stocks consist of six digits. For the list of eligible stocks, please refer to the "All Eligible Securities" section on the HKEX website.

 

2.    Trading Calendar

Northbound trading is only available when both the Hong Kong and Mainland China markets are open for trading, and both markets provide settlement services on T+1 settlement day.
For the specific Northbound trading calendar, please refer to the "HKEX Calendar" section on the HKEX website.

 

3.    Trading Hours

The trading hours follow those of the Shanghai Stock Exchange and Shenzhen Stock Exchange. For details, please refer to the "Securities Market" section on the HKEX website.

Time Period

SSE/SZSE Trading Hours

Time for EPs to input Northbound orders

Opening Call Auction

9:15 a.m. - 9:25 a.m.

9:10 a.m. - 11:30 a.m.

Continuous Auction (Morning)

9:30 a.m. - 11:30 a.m.

Continuous Auction (Afternoon)

1:00 p.m. - 2:57 p.m.

12:55 p.m. - 3:00 p.m.

Closing Call Auction

2:57 p.m. - 3:00 p.m.

 

Time Period

Remarks

9:20 a.m.– 9:25 a.m

SSE/SZSE will not accept order cancellation

2:57 p.m.– 3:00 p.m

SSE/SZSE will not accept order cancellation.

9:10 a.m. – 9:15 a.m.;
9:25 a.m.– 9:30 a.m.;
12:55 p.m.– 1:00 p.m

Orders and order cancellations can be accepted by SEHK but will not be processed by SSE/SZSE until SSE’s and SZSE's market open.

*Orders that are not executed during the opening call auction session will automatically enter the continuous auction session.

 

4.    Buying and selling indicators

1)      Modifications to orders are not allowed; to make changes, clients must cancel unexecuted orders first and then place a new order after successful cancellation.

2)      T+0 trading is not permitted; Stocks purchased on T-day can only be sold on or after T+1.

 

5.    Settlement Currency and Cycle

1)      Transactions and settlements are conducted in RMB.

2)      A T+1 settlement system applies:

  •    Stocks purchased on T-day can only be sold starting from T+1.
  •    Proceeds from stock sales can only be withdrawn after settlement is completed on T+1; however, these funds can be used immediately to purchase other stocks.

 

6.    Board Lot Size and Odd Lots

1)      All shares are traded in board lots of 100 shares per lot.

2)      Buy orders must be placed in board lot sizes.

 

7.    Price Limits

1)      SSE/SZSE currently imposes a daily price limit of ±10% from the previous closing price for most stocks. Stocks under special risk alert (e.g., ST or *ST stocks) have a daily price limit of ±5%. Orders exceeding these price limits will be rejected by SSE/SZSE.

2)      For details regarding buy order price limits, please refer to the "Quotation Requirements and Restrictions for Shanghai Connect Orders" section on the HKEX website.