Markets Offered

China A Shares

(SH/SZ – HK Stock Connect)

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 2.0 or
2) POEMS Mobile or
3) Your designated Trading Representative
Common order rejection messages Your orders may be rejected due to the following reasons:
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
Short sell
Stock suspended
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
Exchange SSE
Traded currency RMB
Minimum bid size RMB 0.01

Note:
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.

In compliance with regulations regarding the restriction of mainland investors from Northbound trading, please kindly be aware that with effect from 24 July 2023 Mainland Chinese citizens will be restricted from placing “BUY” orders trading China ‘A’ shares (both SSE and SZSE).
However Mainland Chinese citizens with a valid PR status in Singapore as recorded in our system will not be affected by this restriction.

Handling Fee 0.00341% with effect from 28 August 2023
Security Management Fee 0.002%
Transfer Fee (ChinaClear) 0.001% of the consideration of a transaction per side (Effective on 29th Apr 2022)
Transfer Fee (CCASS) 0.002% of the consideration of a transaction per side
Stamp Duty 0.05% (Sell only) with effect from 28 August 2023
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). Fees & charges may be subject to changes without prior notice. Please click here for custodian charges.

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

Note:

  1. 09:20 – 09:25: SSE will not accept order cancellation.
  2. 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.
  3. Orders that are not executed during the opening call auction session will automatically enter the continuous auction session.

Settlement Date T+1 market days
Settlement Currency SGD & CNY
Order Amalgamation Yes (Conditions for Amalgamation, click here)

Note: For payment methods, please click here.

 

2024

Month Day Date Holidays Settlement Trading Day
January Monday 1 January New Year’s Day No No
February Monday 12 February Lunar New Year No No
Tuesday 13 February Lunar New Year No No
Wednesday 14 February Lunar New Year No No
Thursday 15 February Lunar New Year No No
Friday 16 February Lunar New Year No No
March Friday 29 March Good Friday No No
April Monday 1 April Easter Monday No No
Thursday 4 April Ching Ming Festival No No
Friday 5 April Ching Ming Festival No No
May Wednesday 1 May Labour Day No No
Wednesday 15 May Buddha’s Birthday No No
June Monday 10 June Tuen Ng Festival No No
Friday 28 June Hksar Establishment Day Yes No
July Monday 1 July Sar Establishment Day No No
September Tuesday 17 September Mid-autumn Festival No No
Wednesday 18 September Day After Mid-autumn Fest No No
October Tuesday 1 October National Day (obs) No No
Wednesday 2 October National Day No No
Thursday 3 October National Day No No
Friday 4 October National Day No No
Friday 11 October Chung Yeung Festival No No
December Tuesday 24 December Day Before Christmas Yes No
Wednesday 25 December Christmas Day No No
Thursday 26 December Christmas Holiday (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.

No, simply call your preferred Phillip representative now, or click here to open an account.

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

  1. Index constituents of the SSE 180 Index , SSE 380 Index, SZSE Main Index, SZSE SME Index, SZSE ChiNext Index* or
  2. 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;

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IMPORTANT INFORMATION

This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <www.phillipfunds.com> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  

 

Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066 www.phillipfunds.com