Group 1: Holiday Market Closure Schedule - The Shanghai, Shenzhen, and Beijing stock exchanges announced the market closure schedule for holidays in 2026, including New Year's Day, Spring Festival, Qingming Festival, Labor Day, Dragon Boat Festival, Mid-Autumn Festival, and National Day [1][2] - Specific closure dates include: - New Year's Day: January 1-3, reopening on January 5 [1] - Spring Festival: February 15-23, reopening on February 24 [1] - Qingming Festival: April 4-6, reopening on April 7 [1] - Labor Day: May 1-5, reopening on May 6 [1] - Dragon Boat Festival: June 19-21, reopening on June 22 [1] - Mid-Autumn Festival: September 25-27, reopening on September 28 [1] - National Day: October 1-7, reopening on October 8 [1] Group 2: Hong Kong Stock Connect Trading Days - The trading days for the Hong Kong Stock Connect under the Shanghai and Shenzhen stock exchanges for 2026 were also outlined, with specific closures during the same holiday periods [2] - Notable closures include: - New Year's Day: January 1-3, reopening on January 5 [2] - Spring Festival: February 15-23, reopening on February 24 [2] - Additional closures for Good Friday, Easter, and other local holidays in Hong Kong [2] Group 3: Securities Settlement Arrangements - China Securities announced the settlement arrangements for securities during holiday closures, detailing the clearing and settlement dates for transactions occurring before and after the holidays [3][4][5][6][7][8][9][10][11] - For example, during the New Year holiday, transactions on December 31 will have a settlement date of January 5, 2026 [3] - Similar arrangements are specified for each holiday, ensuring clarity on the settlement dates for transactions occurring around these periods [3][4][5][6][7][8][9][10][11]

Summary of Key Points Core Viewpoint - The Shanghai and Shenzhen Stock Exchanges have announced the market closure schedule for the National Day and Mid-Autumn Festival in 2025, with a break from October 1 to October 8, resuming normal trading on October 9 [1]. Market Closure Arrangement - The market will be closed from October 1 (Wednesday) to October 8 (Wednesday), with trading resuming on October 9 (Thursday) [1]. - Additionally, weekends on September 28 (Sunday) and October 11 (Saturday) will also be non-trading days [1]. Port Stock Connect Services - The Hong Kong Stock Connect will not provide services from October 1 to October 8, resuming operations on October 9 [1]. - The same weekend closures apply for the Hong Kong Stock Connect on September 28 and October 11 [1]. System Testing - To ensure smooth trading after the holiday, the Beijing Stock Exchange will conduct a trading system joint debugging test on October 8 from 9:15 to 12:00 [1]. Clearing Arrangements - Clearing matters will be handled according to the arrangements of China Securities Depository and Clearing Corporation Limited [1].

Market Closure Announcement - The stock exchanges in Shanghai, Shenzhen, and Beijing will be closed from October 1 (Wednesday) to October 8 (Wednesday) for the National Day and Mid-Autumn Festival, resuming normal operations on October 9 (Thursday) [1][5][6] - Weekend closures are scheduled for September 28 (Sunday) and October 11 (Saturday) [1][5][6] Clearing and Settlement Arrangements - During the holiday period, clearing and settlement will follow the arrangements set by China Securities Depository and Clearing Corporation [2][5][6] - Specific trading system adjustments will occur on October 8 (Wednesday) from 9:15 to 12:00 to ensure smooth trading after the holiday [6] Hong Kong Stock Connect Services - The Shenzhen Stock Exchange will not provide Hong Kong Stock Connect services from October 1 to October 8, resuming on October 9 [8] - Additional trading days for Hong Kong Stock Connect are set for September 29 and 30, with specific clearing dates for transactions occurring during the holiday [8] Futures and Options Trading Adjustments - The Shanghai International Energy Exchange will not conduct night trading on September 30 and will be closed from October 1 to October 8, resuming trading on October 9 [9] - Adjustments to margin requirements and price limits for various futures contracts will take effect starting September 29, with specific percentages outlined for different commodities [9][10]

Market Closure Announcement - The A-share market will be closed from October 1 (Wednesday) to October 8 (Wednesday), resuming normal operations on October 9 (Thursday) [2] - The Hong Kong Stock Connect will also be unavailable during the same period, with services resuming on October 9 [2] - The Shanghai International Energy Exchange has announced similar closures for the 2025 National Day and Mid-Autumn Festival, with specific trading arrangements detailed [4][5] Trading Margin and Price Limit Adjustments - For the 2025 holiday period, various futures contracts will see adjustments in trading margin ratios and price limit ranges, including: - International copper futures: price limit adjusted to 9%, margin for hedging at 10%, and general positions at 11% [5] - Crude oil and low-sulfur fuel oil futures: price limit adjusted to 12%, margin for hedging at 13%, and general positions at 14% [5] - 20 rubber futures: price limit adjusted to 11%, margin for hedging at 12%, and general positions at 13% [5] - Container shipping index futures: price limit adjusted to 20%, with a margin ratio of 22% [5] - After the holiday, these limits and margins will revert to their original levels on the first trading day without a one-sided market [5]

Market Closure Schedule - The A-share market will be closed from October 1 (Wednesday) to October 8 (Wednesday) for the National Day and Mid-Autumn Festival, resuming normal trading on October 9 (Thursday) [2] - The weekend closures include September 28 (Sunday) and October 11 (Saturday) [2] Hong Kong Stock Connect - The Shenzhen Stock Exchange announced that the Hong Kong Stock Connect service will not be available from October 1 (Wednesday) to October 8 (Wednesday), resuming on October 9 (Thursday) [5] - Weekend closures for the Hong Kong Stock Connect also include September 28 (Sunday) and October 11 (Saturday) [5] Future Trading Arrangements - The Shanghai International Energy Exchange has announced that there will be no night trading on September 30, 2025, and the market will be closed from October 1 (Wednesday) to October 8 (Wednesday) in 2025 [8][9] - On October 9, 2025, trading will resume with a collection auction from 08:55 to 09:00, followed by the restoration of night trading [10] Margin and Price Limit Adjustments - Starting from the closing settlement on September 29, 2025, margin ratios and price limit adjustments for various futures contracts will be implemented, including: - International copper futures: price limit adjusted to 9%, margin for holding positions at 10% [11] - Crude oil and low-sulfur fuel oil futures: price limit adjusted to 12%, margin for holding positions at 13% [11] - 20 rubber futures: price limit adjusted to 11%, margin for holding positions at 12% [11] - Shipping index (European line) futures: price limit adjusted to 20%, margin at 22% [11] Post-Adjustment Trading Conditions - After trading on October 9, 2025, the price limits and margin ratios for all futures contracts will revert to their original levels after the first trading day without a one-sided market [13]

Summary of Key Points - The major exchanges have announced the holiday trading schedule for the National Day and Mid-Autumn Festival in 2025, with a market closure from October 1 (Wednesday) to October 8 (Wednesday) and resuming normal trading on October 9 (Thursday) [2][4][7] - Weekend closures are also noted for September 28 (Sunday) and October 11 (Saturday) [2][4][7] - Clearing and settlement during the holiday period will follow the arrangements set by China Securities Depository and Clearing Corporation Limited [2][4][5] - The Shenzhen Stock Exchange and Shanghai Stock Exchange have both issued similar announcements regarding the holiday trading schedule [3][4] - The Hong Kong Stock Connect service will not be available during the holiday period, resuming on October 9 [7] - The Shanghai International Energy Exchange has also announced that there will be no night trading on September 30 (Tuesday) [8] - Adjustments to margin requirements and price limits for various futures contracts will take effect starting September 29 (Monday) [11][12]

Group 1 - The Shanghai Stock Exchange and Shenzhen Stock Exchange announced the market closure schedule for Labor Day 2025, from May 1 (Thursday) to May 5 (Monday) [1] - The markets will resume normal trading on May 6 (Tuesday) [1] - Additionally, April 27 (Sunday) will be a weekend market closure [1]