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        What is limit order

        A limit order, as a standard order for Hong Kong stocks, enables you to buy or sell at a specified price.

        1. When to place an order

        1.1 Pre-market auction is allowed

        An limit order submitted from 4:10 PM on day T to 9:15 AM on day T+1 is a preset order, and will be submitted to the exchange as an at-auction limit order during the morning auction period (9:00 AM to 9:15 AM) for matching. You cannot change or cancel any order from 9:15 AM to 9:30 AM.

        1.2 Pre-market auction is not allowed

        An limit order submitted from 4:10 PM on day T to 9:30 AM on day T+1 is a preset order, and will be queued for submission to the exchange after 9:30 AM, and the queue time may be up to 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 order after 9:30 AM.

        2. Matching Period

        Normal trading hours (9:30 AM-12:00 PM; 1:00 PM-4:00 PM)

        3. Explanations and Notes

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

        3.2 An 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 tothe 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 partially filled limit orders, only unfilled parts can be cancelled or changed.

        3.7 During the process of change or cancellation, the original order is still in effect. There may be cases where the original order cannot be changed or canceled due to the fact that the original order has been fully executed during the process of change.

        3.8 An order will be executed at the best price on the market (i.e. market price) if the buy order price is higher than the market price, or the sell order price is lower than the market price.

        3.9 You are not allowed to change any order during the lunch break, and cancellation is also not allowed during the period from 12:00 PM to 12:30 PM.

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

        This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors.  It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

        Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. 

        In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC)  and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).