- Markets Offered
Stocks & Shares
China A Shares (SH/SZ – HK Stock Connect)
|Online Trades||Broker-Assisted Trades|
|Minimum||RMB 88||RMB 150|
|Other Foreign Fees|
|Security Management Fee||0.002%|
|Transfer Fee||0.004% on gross value or consideration|
|Stamp Duty||0.1% (Sell only)|
|Portfolio Fee||Daily stock portfolio value x 0.008% / 365 (Accrued daily and collected on a monthly basis in SGD equivalent, charged by Hong Kong Securities Clearing Company Limited)|
Note: All fees and charges are subject to Goods & Services Tax (GST). GST will also be applicable on related foreign fees such as stamp duty, exchange and trading fees from 1st October 2021. Fees & charges may be subject to changes without prior notice. Please click here for custodian charges. (effective 1 April 2022)
Phillip Securities is pleased to inform you that the following China A-Shares listed on the Shanghai Stock Exchange (SSE) are marginable under Phillip Margin (M) Accounts and Share Financing (V) Accounts:
辉立证券很高兴地通知您，以下上海证券交易所（SSE）上市的中国A股已可在辉立保证金(M)账户和辉立股票融资(A)账户下进行融资 (List updated as of 18th July 2016, and is subjected to changes without prior notification) 该列表更新于2016年7月18日，若有调整恕不提前通知
|ALUMINUM CORP OF CHINA
|BANK OF CHINA
|BEIJING NORTH STAR
|CHINA COMM CONS
|CHINA EAST AIR
|CHINA RAIL CONS
|CHINA SOUTH AIR
Updated as of 18 July 2016. Information is subject to change from time to time without prior notice.
|Order Placement (Board lots)||Via
1) POEMS 2.0 or
2) POEMS Mobile or
3) Your designated Trading Representative
|Odd lot (Sell only)||1) POEMS
2) POEMS Mobile or
3) Your designated Trading Representative
|Common order rejection messages||Your orders may be rejected due to the
Buy order for Northbound trades Securities is set at a price limit below its current best bid price (if no current best bid price is available, latest trade price applies, and if it is also not available, previous closing price applies) beyond 3%* .
*The percentage may be adjusted from time to time subject to market conditions. Example: For all purchases, if the bid price is RMB 1, the lowest price limit allowed will be set at RMB 0.97.For SSE securities, there is an upper and lower daily price limit of +/-10% (+/-5% for stocks on the “Risk Alert Board”) based on the previous day closing price. All orders must be at or within the price limit range.”Trading limit exceeded
For Buy Orders Daily Quota Exceeded. (Please check on HKex for real-time updates on Daily Quota Balance)
|Trading lot||100 shares|
|Price Quote||15 minutes delayed on POEMS 2.0|
|Minimum bid size||RMB 0.01|
1. You are not allowed to buy shares and subsequently sell them on the same trading day. Shares bought on T day can only be sold on T+1 onwards.
2. Buy orders must be in board lot; odd lot trading is only available for sell orders.
|SSE Trading Session||SSE Trading Hours|
|Opening Call Auction||09:15 – 09:25|
|Continuous Auction (Morning)||09:30 – 11:30|
|Continuous Auction(Afternoon)||13:00 – 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 cancellation 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.
||Friday||01 January||New Year’s Day||No||No|
|February||Thursday||11 February||Lunar New Year||No||No|
|Friday||12 February||Lunar New Year||No||No|
|Monday||15 February||Lunar New Year||No||No|
|Tuesday||16 February||Lunar New Year||No||No|
|Wednesday||17 February||Lunar New Year||No||No|
||Thursday||01 April||Day Before Good Friday||No||No|
|Friday||02 April||Good Friday||Yes||No|
|Monday||05 April||Easter Monday||No||No|
|Tuesday||06 April||Ching Ming Festival||No||No|
|Wednesday||19 May||Buddha’s Birthday||No||No|
|June||Monday||14 June||Tuen Ng Festival||No||No|
|Wednesday||30 June||Hksar Establishment Day||Yes||No|
|July||Thursday||01 July||Sar Establishment Day||No||No|
|September||Friday||17 September||Market Holiday||Yes||No|
|Monday||20 September||Mid-autumn Festival||No||No|
|Tuesday||21 September||Mid-autumn Festival||No||No|
|Wednesday||22 September||Day After Mid-autumn Festl||No||No|
|October||Friday||01 October||National Day (obs)||No||No|
|Monday||04 October||National Day||No||No|
|Tuesday||05 October||National Day||No||No|
|Wednesday||06 October||National Day||No||No|
|Thursday||07 October||National Day||No||No|
|Wednesday||13 October||Market Holiday||Yes||No|
|Thursday||14 October||Chung Yueng Festival||No||No|
|December||Thursday||24 December||Day Before Christmas||Yes||No|
|Friday||27 December||Christmas Day Obs||No||No|
*Settlement – Change based on money settlement
Note: Information is correct at time of posting. For latest updates, please refer to the Stock Connect Trading Calendar.
Yes. Any investors holding or controlling shares more than 5% from the same issuer must disclose his interest within 3 working days. During which, the said investor cannot buy nor sell the shares until the interest is made known.
Stock Borrowing & Lending of SZSE/SSE China A-Shares for foreign retail investors was recently approved and introduced by the relevant exchange authorities. We look forward to providing this service to our clients once it is ready. Naked short selling is still not permitted, and for Margin Financing, kindly click SZSE/SSE Trading Details to find out more.
No, IPOs are currently not supported by the scheme.
Yes. For SZSE/SSE Securities, there is a general price limit of a ±10% (and a ±5% for stocks under special treatment (i.e. ST and *ST stocks) in the risk alert board) based on previous closing price.
All orders input for SZSE/SSE Securities must be within the price limit. Any orders with price beyond the price limit will be rejected by SZSE/SSE. The upper and lower price limit will remain the same intra-day.
Note: ST stocks refers to: stocks that have been resumed from suspension for listing; or stocks that have been relisted; or stocks that have suffered from other significant risks. *ST stocks refers to stocks with the risks of being delisted.
Should Shenzhen, Shanghai or Hong Kong announce suspension of market due to severe weather (ie. Typhoon Signal above 8 and/or Black rainstorm), no trade will take place until an official announcement for trading resumption. Please refer to Shenzhen, Shanghai or Hong Kong Stock exchange for any announcements on market suspension on the day.
Shenzhen/Shanghai-Hong Kong Stock Connect is a joint project between the Shenzhen Stock Exchange (SZSE)/Shanghai Stock Exchange (SSE) and The Stock Exchange of Hong Kong Limited (SEHK). It allows investors to trade cross-border into specific stocks listed in the other’s market. It also allows overseas investors and thus Phillip Securities clients to trade China ‘A’ shares in the SZSE/SSE.
‘A’ shares that are
- Index constituents of the SSE 180 Index , SSE 380 Index, SZSE Main Index, SZSE SME Index, SZSE ChiNext Index* or
- Dual-listed on both SZSE/SSE and HKex
*The ChiNext Board opens to institional professional investors initially
The shares must also be denominated in RMB and not included in “Risk Alert Board”.
Investors will not be allowed to buy the share, but will only be allowed to sell it in the event a stock subsequently:
- Ceases to be a constituent stock, or
- is added to “Risk Alert Board”, or
- its ‘H’ Share cease to trade on HKex;