Core Viewpoint - The article discusses the key rules and mechanisms of the Hong Kong Stock Connect, emphasizing its importance for mainland investors to participate in the Hong Kong stock market while ensuring compliance and market order [1][2]. Group 1: Trading Rules - The trading targets of the Hong Kong Stock Connect are determined by the Hong Kong Stock Exchange and mainland exchanges, including large and medium-cap stocks from the Hang Seng Index and H-shares meeting specific market capitalization requirements [1]. - The trading range is subject to dynamic adjustments based on market conditions, highlighting the need for investors to stay informed about the latest eligible stocks [1]. Group 2: Trading Hours and Mechanisms - Trading days for the Hong Kong Stock Connect must coincide with trading days in both mainland and Hong Kong markets, with specific trading hours aligned with the Hong Kong Stock Exchange [2]. - The trading mechanism operates on a T+0 basis, allowing investors to sell stocks purchased on the same day, while funds settle on a T+2 basis [2]. - There are no price limits on stocks traded through the Hong Kong Stock Connect, with price fluctuations determined by market supply and demand [2]. Group 3: Transaction Costs - Transaction costs for the Hong Kong Stock Connect include commissions, stamp duty, transaction fees, and transfer fees, with specific rates determined by regulatory authorities [3]. - Investors are advised to understand the detailed fee structure before engaging in trading to avoid misunderstandings related to costs [3].

港股通交易规则是以港交所的交易规则为前提实施的，绝大部分交易规则与A股是相似的， 但也存在较多细节的差异。部分投资者对这些差异不了解，容易出现下单后交易所返回废单， 而导致委托无效的情况。 港股通投资者委托时最容易出现的废单原因为： 交易时间错误 委托类型错误 报价范围错误 据我司内部统计，以上三种原因导致的废单分别占全部废单的35%、14.8%和 50%。 一旦出现废单则该笔委托无效，投资者需重新提交正确的委托。为了减少废单的 发生，我们将分别讲解交易时间、委托类型、报价范围的相关规则。 请注意以下规则仅指港股通 01 交易时间 时段 时间 详情 开市前时段 9:00-9:15 以竞价限价盘申报， 可撤单 | | 9:15-9:22 | 可申报，不可撤单。 最后两分钟随机时间 | | --- | --- | --- | | | | 开始配对成交， | | | | 开始后截止申报 | | | 对盘-9:30 | 不可申报与撤单 | | 持续交易时 | 9:30-12:00 | 以增强限价盘申报， | | 段 | 13:00-16:00 | 可撤单 | | 中午休市时 | 12:00-12:30 | 不可委托、 ...