AP CAPITAL

Securities

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Market Name U.S. Mainland China Hong Kong
Stock Code Abbreviations of Listed Companies 6 -digit Number 5 -digit Number
Trading Hour U.S. Summer Time (April-November):
GMT+8 21:30~4:00
U.S. Winter Time (November-April):
GMT+8 22:30 - 5:00
GMT+8 09:30-11:30
GMT+8 13:00-15:00
GMT+8 09:30-12:00
GMT+8 13:00-16:00
Trading Lot No restrictions, 1 share per lot 100 shares per lot Number of shares per lot decided
by each listed company
Price Limit No limit Daily Price Limit: ±10%; ±5% (ST stocks) No limit
Intra-day Trading Intra-day trading allowed No intra-day trading is allowed.
Can only be sold on or after T+1
Intra-day trading is allowed
Odd Lots Tradable Only for sell-out Tradable, execution price may
be lower than market price.
Transaction Costs Involved Commission and delivery &
settlement fees
Handling fee, CSRC fee,
transfer fee and stamp duty
Transaction fee, transaction
levy and stamp duty
Trading Rules Stocks are delivered and settled on T day
and payments are settled on T+3 day
Stocks are delivered and settled on T day
and payments are settled on T+1 day
Stocks and payments are delivered and
settled on T+2 day
Quotation Color Green represents up,Red represents down Red represents up,Green represents down Green represents up,Red represents down
Suspension Rules No quantifiable length on stock suspension
The suspension should be as short as possible
Detailed quantifiable length on stock suspension No quantifiable length on stock suspension
The suspension should be as short as possible
Delisting Rules No Special Treatment alert
Complicated delisting rules
Special Treatment alert
(For example, ST and *ST tags)
No Special Treatment alert
Complicated delisting rules

Shanghai-Hong Kong Stock Connect / Shenzhen-Hong Kong Stock Connect

Shanghai-Hong Kong Stock Connect / Shenzhen-Hong Kong Express

The Shanghai/Shenzhen/Hong Kong stock market trading interconnection mechanism, referred to as Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, was established by the Hong Kong Stock Exchange (00388), the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the China Clearing Corporation in the securities markets of the Mainland and Hong Kong. The trading and settlement interconnection mechanism allows Hong Kong and Mainland China investors to trade and settle stocks listed on the other market through exchanges and clearing houses in the local market. The aim is to enable investors from both places to directly buy shares in the other market. There are two parts of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect. The Hong Kong and overseas investors invest in the Mainland through the mechanism of the "Shanghai Stock Connect" / "Shenzhen Stock Connect". Mainland investors buy Hong Kong stocks through the mechanism called "Hong Kong stocks". through".

qualifications

The “Shanghai-Hong Kong Stock Connect” and “Shenzhen-Hong Kong Connect” schemes are open to all Hong Kong and overseas investors, including institutional and individual investors, who wish to trade qualified A-shares listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange.

Regulations Hong Kong Stock Connect Shanghai Stock Connect Shenzhen Stock Connect
Investors Prerequisite Institutional investors and individual investors with at least account balance of RMB 500,000 None None
Eligible Stocks Constituent stocks of Hang Seng Composite LargeCap Index
Constituent stocks of Hang Seng Composite MidCap Index
HK stocks of companies dual-listed in Mainland and Hong Kong
Constituent stocks of Shanghai Stock Exchange 180 Index
Constituent stocks of Shanghai Stock Exchange 380 Index
A shares of companies dual-listed in Mainland and Hong Kong
Constituent stocks of the SZSE Component Index and the SZSE Small/Mid Cap Innovation Index which have a market capitalization of not less than RMB 6 billion
Quota RMB 42 billion per day RMB 52 billion per day RMB 52 billion per day
Trading Hour 9:30-12:00 13:00-16:00 (when both markets are open for trading) 9:30-11:30 13:00-15:00(when both markets are open for trading) 9:30-11:30 13:00-15:00(when both markets are open for trading)
Trading Rules T+0 (intra-day buying and selling are allowed) T+1 (Can only be sold on T+1 day) T+1 (Can only be sold on T+1 day)
Price Limit No limits Daily Price Limit: ±10%; ±5% (ST stocks) Daily Price Limit: ±10%; ±5% (ST stocks)