China Stock Market – Trading Mechanism
Hong Kong-Shanghai Stock Connect Trading Hours (Monday – Friday, except Public Holiday)
Session Name
Opening Call Auction & Continuous Auction (Morning)
Trading Hours
09:00 – 11:30
Continuous Auction (Afternoon)
12:55 – 15:00
- 09:20 – 09:25: SSE will not accept order cancellation
- 09:10 – 09:15; 09:25 – 09:30; 12:55 – 13:00: Orders and order cancellations can be accepted by SEHK but will not be processed by SSE until SSE’s market open
- Orders that are not executed during the opening call auction session will automatically enter the continuous auction session
Hong Kong-Shenzhen Stock Connect Trading Hours (Monday – Friday, except Public Holiday)
Session Name
Opening Call Auction & Continuous Auction (Morning)
Trading Hours
09:00 – 11:30
Continuous Auction & Closing Call Auction (Afternoon)
12:55 – 15:00
- 09:20 – 09:25, 14:57 – 15:00: SZSE will not accept order cancellation
- 09:10 – 09:15; 09:25 – 09:30; 12:55 – 13:00: Orders and order cancellations can be accepted by SEHK but will not be processed by SZSE until SZSE’s market open
- Any buy or sell orders not executed during the opening call auction session will automatically enter the continuous auction session. Any buy or sell orders not executed during the continuous auction session will automatically enter the closing call auction session.
Shanghai B Share Trading Hours (Monday – Friday, except Public Holiday)
Session Name
Trading Hours
Opening Call Auction (Morning)
09:15 – 09:25
Continuous Auction (Morning)
09:30 – 11:30
Continuous Auction (Afternoon)
13:00 – 15:00
Shenzhen B Share Trading Hours (Monday – Friday, except Public Holiday)
Session Name
Trading Hours
Opening Call Auction (Morning)
09:15 – 09:25
Continuous Auction (Morning)
09:30 – 11:30
Continuous Auction (Afternoon)
13:00 – 14:57
Closing Call Auction (Afternoon)
14:57 – 15:00
Order Types
Only limit orders (i.e. orders which can be matched at the specified price or a better price) will be accepted for SSE Securities and SZSE Securities throughout the day.
Price Limit
For SSE Securities, there is a general price limit of ±10% (and ±5% for stocks under special treatment (i.e. ST and *ST stocks) under risk alert) based on previous closing price.
All orders input for SSE Securities must be at or within the price limit. Any order with a price beyond the price limit will be rejected by SSE. The upper and lower price limit will remain the same intra-day.
The same price limit arrangement applies to SZSE Securities. Stocks traded on SZSE’s ChiNext Market are also subject to a ±10% price limit based on the previous closing price.