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Limit Order

A limit order for the purpose of Hong Kong stocks allows you to buy or sell at a specified price.

1. Order Time

1.1 Pre-market auction allowed

A limit order placed from 4:10 PM on day T to 9:15 AM on day T+1 is a pre-set order, and will be submitted to the exchange as an at-auction limit order during the pre-opening auction period (9:00 AM to 9:15 AM) for auction and matching. It cannot be edited or cancelled during 9:15 AM to 9:30 AM.

1.2 Pre-market auction not allowed

A limit order placed from 4:10 PM on day T to 9:30 AM on day T+1 is a pre-set order, and will be queued for submission to the exchange after 9:30 AM. The queue may last for several minutes. If you want the order to be submitted faster, it is recommended to allow pre-market auction, or cancel the order and place a new one after 9:30 AM.


2. Matching Time

Regular trading hours (9:30 AM - 12:00 PM & 1:00 PM - 4:00 PM)


3. Explanations and Notes

3.1 A limit order will not be executed if the stock price has not reached or exceeded the limit price, and any unfilled limit orders will be converted into at-auction limit orders after 4:01 PM.

3.2 A limit order allows matching of up to 10 price queues at a time (you can buy or sell at a better price).

3.3 In general, a limit order shall not be made at a price that deviates 9 times or more from the nominal price. For details, please refer to the trading rules of the HKEX.

3.4 In general, the sell price should be within the range of 24 spreads above the best ask price and 9 spreads below the best bid price (a stock's spread depends on its share price).

3.5 In general, the buy price should be within the range of 24 spreads below the best bid price and 9 spreads above the best ask price (a stock's spread depends on its share price).

3.6 For the official spread table, please click here.

3.7 For partially filled limit orders, only unfilled part can be cancelled or edited.

3.8 A limit order is still active when it is being cancelled or edited, and thus may not be cancelled or edited if it is filled in full during such cancellation or editing.

3.9 A limit order will be filled at the best price in the market (i.e. market price) if the order price is higher than the market price in the case of a buy order, or is lower than the market price in the case of a sell order.

3.10 Limit orders cannot be edited during the Extended Morning Session, and cancellation is also not allowed during the period from 12:00 PM to 12:30 PM

3.11 Limit orders described on this page represent enhanced limit orders defined by the HKEX.