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        ​A-shares trading rules

        A-share trading follows the rules of the Shanghai and Shenzhen Stock Exchanges, as follows:

        1. Tradeable Stock

        Please refer to the website of the Hong Kong Stock Exchange for the list of eligible stocks: 

        (1) Among the current product types listed on the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE), only A-shares and ETFs are included in Shanghai and Shenzhen Stock Connect. Other product types such as B-shares, bonds, and other securities are temporarily not eligible for Northbound trading.

        (2) Second-board Market currently only supports institutional transactions.

        2. Transaction Date Arrangement

        Northbound trading will only be open when both markets are on trading days and both markets have settlement services on the money settlement day (that is T+1).

        For the specific northbound trading calendar, click to view the Hong Kong Stock Exchange's annual calendar.

        3. Trading Hours

        The trading hours of A-shares follow the Shanghai Stock Exchange and Shenzhen Stock Exchange, click to view the specific trading hours of stock connect

        (1) 09:20~09:25 and 14:57~15:00: Shenzhen Stock Exchange does not accept cancellation orders;

              09:20~09:25: Shanghai Stock Exchange does not accept cancellation orders

        (2) Orders that are not matched during the opening call auction period will automatically enter the continuous auction period.

        The Shanghai Stock Exchange implements closing call auctions from August 20, 2018(view details).

        4. Buying and Selling Indicators 

        (1) Moomoo Financial Inc. supports limit orders and conditional orders. You can issue trading instructions during any trading hours of A-shares, or you can place orders in advance during non-trading hours through the ability to place orders provided by Moomoo Financial Inc..

        (2) There is no operation type to modify the order. If you need to change the order, you need to cancel the unexecuted order, and then place the order again after the cancellation is successful.

        (3) T+0 trading of stocks is not allowed. A-shares purchased by customers on T day can only be sold on or after T+1 day.

        5. Settlement Currency and Cycle 

        (1) Trading and settlement in RMB.

        (2) Stock trading implements the T+1 trading system, that is, the stocks bought on T day can only be sold on T+1 day; the stocks sold on the same day can only be withdrawn after settlement on T+1 day, but the money can be used to buy stock of other stocks.

        6. Units Per Lot and Odd Lot 

        The number of A-share transactions has the following regulations:

        (1) All A-shares are 100 shares per lot.

        (2) "Buy orders" must be a whole lot order.

        (3) When only selling, odd lots can be sold. But investors must sell all odd shares of the A shares.

        (4) The odd lot sell order will be matched with the complete unit order on the same trading platform and bid at the same price. Therefore, odd lots may appear in the final transaction of the customer's buy instructions.

        7. Price Limit

        7.1 Quote Change Limit

        The current price limit of the Shanghai Stock Exchange/Shenzhen Stock Exchange is generally not more than ±10% of the closing price of the previous day (the price limit of A-shares (ie ST stocks and *ST stocks) included in the risk warning board is ±5%). Orders that exceed the price limit will be rejected by the Shanghai Stock Exchange/Shenzhen Stock Exchange.

        7.2 Purchase Price Limit

        (1) To use the trading quota more effectively, the Stock Exchange has established a price floor for buying orders

        (2) The buy instruction price cannot be entered as a percentage lower than the following price, otherwise, the buy instruction will be rejected by the CSC system.

        Current buying price:

        Or if there is no current purchase price, use the latest transaction price;

        Or if there is no current buying price and the latest transaction price, the closing price of the previous day will be used.

        (3) According to the provisions of the Stock Exchange, the current percentage is 3%.

        (4) Customers should note that your buy instruction price is still subject to the price limit set by the Shanghai Stock Exchange / Shenzhen Stock Exchange.

        Moomoo is a professional trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.

        Any illustrations, scenarios, or specific securities referenced herein are strictly for illustrative purposes. Past investment performance does not guarantee future results. Investing involves risk and the potential to lose principal.