Asia & Pacific Trading
Hong Kong
Market opening hours
- GMT: 02:00 - 08:00 (Lunch = 0430 - 0630)
- BST: 03:00 - 09:00 (Lunch = 0530 - 0730)
- Local time: 10:00 - 16:00 (Lunch = 1230 - 1430)
Ticks, Tolerance and Lots
When trading on the Hong Kong Stock Exchange you must be aware of tick sizes, tolerance levels and lot sizes
Ticks
A tick size is the minimum incremental movement in the price of a stock. The minimum size of a tick is dependent on the current share price - see table below.
| Share price (HK$) | Tick size |
|---|---|
| 0.01<0.25 | 0.001 |
| 0.25<0.50 | 0.005 |
| 0.50<10.00 | 0.01 |
| 10.00<20.00 | 0.02 |
| 20.00<100.00 | 0.05 |
| 100.00<200.00 | 0.10 |
| 200.00<500.00 | 0.20 |
| 500.00<1,000.00 | 0.50 |
| 1,000.00<2,000.00 | 1.00 |
| 2,000.00<5,000.00 | 2.00 |
| 5,000.00<9,995.00 | 5.00 |
For example;
If ABC Plc is currently trading at HK$15.00 - HK$15.20 any limit order must be set at 2 cent increments.
Limit to sell at 15.00 - ok
Limit to sell at 15.01 - not ok
Limit to sell at 15.02 - ok
Limit to sell at 15.03 - not ok
Tolerance levels
A BUY limit order must be placed at the current offer price or down to a maximum of 20 ticks below the current offer price. If a BUY limit order is placed above the current offer price or greater than 20 ticks below the current offer price, the order will be rejected by the market/exchange.
A SELL limit order must be placed at the current bid price or up to a maximum of 20 ticks above the current bid price. If a SELL limit order is placed below the current bid price or greater than 20 ticks above the current bid price, the order will be rejected by the market/exchange.
Lot size
There are three different types of lot size;
| Board lot | A quantity of shares that is equal to or a multiple of a set figure that is set by each exchange. For example, if ABC Plc only allows trades to be placed in lots of 500, then only multiples of 500 can be traded (500, 1,000, 1,500, 2,000). |
| Odd lot | A number of shares that are less than the board lot, for example, 436 shares when ABC Plc trades in lots of 500. |
| Mixed lot | The amount of shares exceeds one board lot but is not enough to meet the next level, for example 762 shares when ABC Plc trades in lots of 500 (one board lot of 500 + one odd lot of 262 = a mixed lot of 762). |
Please note that each stock listed on the Hong Kong Stock Exchange has a different lot size. Details of these can be found at www.hkex.com.hk
- All purchases must be made in board lots
- All mixed and odd lot purchase lots will be rejected
- Sales can be placed in mixed and odd lots
- The sale of an odd lot will be made in the end of day auction which could affect the price.
- In the case of mixed lots the available board lot will be traded with the remainder treated as an odd lot.
Types of Order
Only limit orders are permitted on the Hong Kong Stock Exchange
Settlement
- On the Hong Kong Stock Exchange is T2
- You can settle and trade in HKD with multi currency account using the TD Waterhouse FX service - this is T2
Which account do I need to trade Internationally
You can trade on international exchanges with a Trading Plus, Trading ISA and/or a SIPP Account.
New Customers
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OnlineThe Trading Plus Account gives you access to international markets, warrants and covered warrants. |
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Existing Cutomers
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OnlineUpgrade your account to enable international trading. Login and go to Account Administration/Account Upgrades. |
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By PhoneCall us to Upgrade by telephone 0845 607 6002 |
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