Stock Trading

Hong Kong (HKEX)

Hong Kong Advanced Orders

We have launched 3 new HK market order types:

  1. Market order
  2. Market on Open (MOO) order
  3. Market on Close (MOC) order
Market Order Market on Open (MOO) order Market on Close (MOC) order
An order placement with a defined quantity but no price. It will be traded at the best price currently available in the market. An order placement with a defined quantity but without a price. It is placed before the HK market is opened and will be executed at the opening price for that day. An order placement with a defined quantity but without a price. It is placed during the HK market trading session and will be executed at market closing price for the day.

These order types are now available on all POEMS platform!

What are the benefits and risks?

Benefits

  • Immediate execution of trade
  • Trades will be fully executed if there is sufficient volume in the market

Risks

  • Buy market orders may have too high a price and too low a price for sell market orders
  • Lack of control of price precision
  • Illiquid counters with large bid and ask spreads will have magnified risk
  • Risk of overtrading

When can I place a HK Advanced Order?

More specifically, advanced orders for the intended trading session can be placed on the day itself at the following timings:

Time for normal day trading (SGT)
Market order From 9.30am till 4pm
Market on Open From 9.05am till 9.20am
Market on Close From 9.35am to 4.08pm

More information about Market Order, MOO order and MOC order

Order Placement (Board lots)

Via

1) POEMS 2.0 or

2) Your designated Trading Representative

Odd lot Via your designated Trading Representative
Common order rejection messages Your orders may be rejected due to the following reasons:
  • 2043 Invalid order price – matching price of more than 10 current market bid/ask

More information on HKEX Securities Market Operations

More information on HKEX Trading Mechanism

  • Insufficient Qty – Insufficient shareholdings
  • 7073 Invalid price tick – Please refer to price spread table
  • 2036 Security halted/suspended – Stock suspended
  • 7077 Order Quantity exceeds Max Board Lots allowed – Maximum 3000 board lot shares per order size allow
  • 2054 Function not allowed in current trading state – order was placed in non-allowable time specifically between Pre-Open and RTH

 

Trading lot Not fixed
Price Quote1 20 minutes delayed.
To access live price quote, click on the counter.
Live price subscription available.
Exchange HKEx
Minimum bid size Share price (HKD) Minimum Bid Size (HKD)
0.01 – 0.25 0.001
> 0.25 – 0.50 0.005
> 0.50 – 10.00 0.01
> 10.00 – 20.00 0.02
> 20.00 – 100.00 0.05
> 100.00 – 200.00 0.10
> 200.00 – 500.00 0.20
> 500.00 – 1,000.00 0.50
> 1,000.00 – 2,000.00 1.00
> 2,000.00 – 5,000.00 2.00
> 5,000.00 – 9,995.00 5.00

For information on ETF bid size, kindly refer to this page.

The Volatility Control Mechanism (VCM) will be implemented by HKEx on 22 August 2016. Please click here to find out more.

  1. Limit order – order will be executed at order price or better.
  2. All orders are only valid for one trading day. Orders not done will be cancelled at the end of each trading day.
  3. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.

Stamp Duty 0.13% (rounded up to the nearest dollar) with effect from 1 August 2021
CCASS fee 0.002% (Minimum HKD2.00, Maximum HKD100)
Transaction Levy 0.0027% (Rounded to the nearest cent)
FRC Transaction Levy 0.00015% (Rounded to the nearest cent, effective 1 January 2022)
Trading fee 0.00565%

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.

Italian financial transaction tax (“IFTT”) is applicable to buy trades on Hong Kong-listed Italian companies with market capitalization more than Euro 500 million. The applicable tax rate is either 0.1% or 0.2%, depending on the counter.

*Promotional details are available at https://www.poems.com.sg/cash-plus

Singapore/Hong Kong Time Pre-opening Session 09:00am – 09:15am
No-cancellation Period 09:15am – 9:20am
Random matching Period 09:20am – 09:22am
Morning Session 09:30am – 12:00pm
Closing Auction Session
(Only During Half Day Trading*)		 12:00pm – 12:10PM
Afternoon Session 01:00pm – 04:00pm
Closing Auction session
(For Full DayTrading)		 04:00pm – 04 :10pm

Note: To participate in pre-opening, orders have to be entered and received before 9:20 am.

Pre-opening orders will be matched between 09.20am – 09:22am.

  Full Day Trading Half Day Trading*
Reference Price Fixing Period 04.00pm – 04.01pm 12.00pm – 12.01pm
Order Input Period 04.01pm – 04.06pm  12.01pm – 12.06pm
No Cancellation Period 04.06pm – 04.08pm 12.06pm – 12.08pm
Random Closing Period 04.08pm – 04.10pm 12.08pm – 12.10pm

*Eves of Christmas, New Year and Lunar New Year
With effect from 8 October 2019, the list of securities covered by CAS expands to include all equities (including depositary receipts, investment companies, preference shares and stapled securities), as well as funds (including exchange traded funds (ETFs) and real estate investment trusts). For the list of CAS securities, please refer to the “CAS Eligible” indicator under the Full List of Securities available on HKEX website.

Settlement Date2 T+2 market days
Settlement Currency HKD or SGD
Order Amalgamation Yes (Conditions for Amalgamation, click here)
Contra Trading Yes
CPF settlement No

Note: For payment methods, please click here.

 

  1. Limit order – order will be executed at order price or better.
  2. All orders are only valid for one trading day. Orders not done will be cancelled at the end of each trading day.
  3. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.

2023

Month Day Date Holidays Settlement Trading Day
January Monday 02 January New Year’s Day (obs) No No
Monday 23 January Lunar New Year No No
Tuesday 24 January Lunar New Year No No
Wednesday 25 January Lunar New Year No No
April Wednesday 05 April Ching Ming Festival No No
Friday 07 April Good Friday No No
Monday 10 April Easter Monday No No
May Monday 01 May Labour Day No No
Friday 26 May Buddha’s Birthday No No
June Thursday 22 June Tuen Ng Festival No No
October Monday 02 October National Day (obs) No No
Monday 23 October Chung Yeung Festival No No
December Monday 25 December Christmas Day No No
Tuesday 26 December Christmas Holiday (obs) No No

Note: Information is correct at time of posting

  HK
Scrip Charge S$1 per Transfer Form (Each Transfer Form can only hold up to 5 certificates)
Courier Fees (<20 certificates) S$21
Courier Fees (>20 certificates) S$1.05 per certificate
PSPL Handling Fees S$10.00 (Subjected to GST)

Rates may change from time to time at the discretion of Phillip Securities Pte Ltd.

There are other miscellaneous fees for physical scrips deposition. For more details, please send in your enquiry to talktoglobalmarkets@phillip.com.sg

You can pay by any of the following payment methods:

  • Cheque, payable to “PHILLIP SECURITIES PTE LTD” (please note that we will cease accepting cheque payments on 31 December 2022)
  • EPS (notify your assigned Trading Representative)
  • Debit from clients’ trading accounts if there are sufficient funds in their Phillip Financial, Cash Management or Investment account (clients must indicate their instructions in the “Remarks” column).

Note: We will not initiate share transfer before receiving payment from clients.

Brokerage