The Shanghai Connect launched in 2014 and the Shenzhen Connect launched in 2016, for northbound trading, are essential part of Stock Connect that achieves mutual market access between the Mainland China and Hong Kong.
Under Shanghai Connect, investors may, through their Hong Kong brokers and a securities trading service company established by HKEX, place orders (by routing orders) to the SSE to trade a specified scope of stocks listed on the Shanghai Stock Exchange (SSE).
Under Shenzhen Connect, investors may, through their Hong Kong brokers and a securities trading service company established by SZSE, place orders (by routing orders) to the SZSE to trade a specified scope of stocks listed on the Shenzhen Stock Exchange (SZSE).
CN First International Futures Limited (CNF) provides direct access for offshore clients to trade A shares via Stock Connect into Hong Kong Stock Markets.
Among the series of Shanghai and Shenzhen stocks, only A shares are included in the Shanghai Connect and Shenzhen Connect. Other products such as B shares, exchange-traded funds, bonds and other securities are excluded from trading scope.
The trading hours of the Shanghai Connect and Shenzhen Connect follow the SSE and SZSE. The details of trading hours are illustrated below:
|Trading Session||Trading Hours
|Opening Call Auction Session||09:15-09:25||09:20-09:25 SZSE & SSE will not accept order cancellation|
|Continuous Auction Session (AM)||09:30-11:30||/|
|Continuous Auction Session (PM)||13:00-14:57||/|
|Closing Call Auction Session||14:57-15:00||SZSE will not accept order cancellation|
Orders that are not matched during Opening Call Auction session will automatically enter the Continuous
Investors can trade A shares (Stock Connect) only if both the markets in Hong Kong and Mainland China are open for trading and banking services are available in both markets on the corresponding money settlement days (T+1).
1. Price Unit : Minimum tick 0.01CNY
2. 100 shares per board lot (Odd lot: only sell orders are available)
3. Net change limit: ±10% net change limit, ±44% net change limit for continuous auction of new stock, ±5% net change limit for stocks under special treatment in the risk alert board
4. Settlement rule: T+0 day for money settlement, and T+1 for stock settlement.
The stocks could not be sold if they are bought on the same day; the funds from the sold stocks could not be withdrawn on the same day, whereas the funds could be used in further stocks transaction.
5. Maximum Order Size: 1 million share per transaction