Stock Trading
Hong Kong (HKEX)
We have launched 3 new HK market order types:
- Market order
- Market on Open (MOO) order
- 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
|
Risks
|
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
On 19 June 2023, HKEX introduced the HKD-RMB Dual Counter Model (“Model”) to the secondary market for trading and settlement purposes.
The Model covers specific securities listed in both HKD and RMB counters only. All shares or units of the same securities (but in different trading counters), are generally of the same class, with the same holders’ rights and entitlements, and fully interchangeable between counters.
Such securities would be designated as the HKD-RMB Dual Counter Securities and will be published by HKEX from time to time, after the rollout of the Model.
There will not be any contra trading for these counters, should trades be done between the HKD counter and RMB counters (e.g. buy HKD counter, sell RMB counter or vice versa).
Please contact your Trading Representative to learn more.
List of Dual Counter Securities Available.
Securities under the two counters are of the same class, holdings of securities in the two counters can be transferred without change of beneficial ownership. Please contact your Trading Representative if you wish to transfer your holdings between the HKD-RMB dual counters.
An investor can distinguish between the two counters on POEMS by their stock codes. The general principle is that separate and unique stock codes are assigned to the HKD and RMB counters respectively.
For an equity, the stock code for the RMB counter will be a 5-digit number starting with an “8”, while a 5-digit number starting with a “0” would be assigned for the HKD counter.
The last four digits of the stock codes for the two counters will normally be the same, in line with the existing allocation arrangement.
HKD counter – 0XXXX
RMB counter – 8XXXX
| 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:
More information on HKEX Securities Market Operations More information on HKEX Trading Mechanism
|
| 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.
| Stamp Duty | 0.13% (rounded up to the nearest dollar) with effect from 1 August 2021 0.1% (rounded up to the nearest dollar) with effect from 17 November 2023 |
|
| 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.
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.
