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Electronic trading system, provides HK Futures, Index Options & Global Futures trading service.
 


Online trading system, provides HK Stocks, US Stocks, Taiwan Stocks, China B-shares & Mutual Fund trading service.    Trading Demo
 


Mobile trading system, provides
HK Stock trading service.
 
   


Electronic trading system, provides HK Stock Option trading service.
 


Electronic trading system, provides HK Stock trading service and streaming quotes.
 


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HKD-Denominated Securities

RMB-Denominated Securities

HKD-Denominated Securities

How do I place an order for HK Stocks trading via WebTrade?

  1. Log into your KGI Trading Account
  2. Select [Hong Kong] in [Securities Trading].
  3. Fill in details of your order request.
  4. Click [Preview] to doubly check your entries before you confirm.

Please remember that you normally need to make payment for a transaction on or before the settlement date of the relevant trade. If you have any question of the paid amount please call our 24-hour InvestLine at (852) 2878-5555. No other reminder will be issued by KGI and late payment is liable to default interest or surcharge. This may result in forced liquidation of your portfolio.

See Trade Demo for an interactive guide to WebTrade.

What types of order may I place for HK Stocks via WebTrade?

  • Limit Order

    A limit order will allow matching only at the specific price. The Sell order price inputted cannot be lower than the best bid price available, whereas the Buy order price inputted cannot be higher than the best ask price, iavailable.
    A Limit order placed before 09:00 (HKT) will be sent to the HKEx as an At-Auction limit order, in which any unfilled order will be carried forward to the Continuous Trading Session begins at 09:30 (HKT).

  • At-Auction Order

    This is an order with NO specified price and will be put into the trading system before the Pre-opening Session -> Order matching periods* for execution at the final IEP. It gets a higher matching priority than an at-auction limit order. Clients are required to cancel unfilled orders at the continuous trading session which starts at 09:30 (HKT).

    Limit Order Examples:

    Bid Ask
    Price Volume ( '000 ) Price Volume ( '000 )
    HKD120.0 20 HKD120.1 40
    HKD119.9 40 HKD120.2 20
    HKD119.8 40 HKD120.3 20
    HKD119.7 20 HKD120.4 60
    HKD119.6 60 HKD120.5 50
    HKD119.5 80 HKD120.6 20
    HKD119.4 100 HKD120.7 40
    HKD119.3 150 HKD120.8 45


    Action Execution Result Unfilled Order Order Status
    (1) Buy 100K @ HKD120.4 40K @ HKD120.1
    20K @ HKD120.2
    20K @ HKD120.3
    20K @ HKD120.4
    Nil Done
    (2) Buy 200K @ HKD120.5 40K @ HKD120.1
    20K @ HKD120.2
    20K @ HKD120.3
    60K @ HKD120.4
    50K @ HKD120.5
    10K @ HKD120.5 Partially Done
    (3) Buy 50K @ HKD120.6 40K @ HKD120.1
    10K @ HKD120.2
    NA Done
    (4) Buy 100K @ HKD120 NA 100K @ HKD120 Queuing
    (5) Sell 100K @ HKD119.5 20K @ HKD120.0
    40K @ HKD119.9
    40K @ HKD119.8
    NA Done
    (6) Sell 50K @ HKD120.1 NA 50K @ HKD120.1 Queuing
    (7) Sell 200K @ HKD119.6 20K @ HKD120.0
    40K @ HKD119.9
    40K @ HKD119.8
    20K @ HKD119.7
    60K @ HKD119.6
    20K @ HKD119.6 Partially Done
    (8) Buy 220K @ HKD120.6 40K @ HKD120.1
    20K @ HKD120.2
    20K @ HKD120.3
    60K @ HKD120.4
    50K @ HKD120.5
    20K @ HKD120.6
    10K @ HKD120.6 Partially Done

Note:
Examples above do not represent all possible scenarios and each scenario is also applicable to orders placed by the order side of the market.

*Refer to:
What is the Pre-Opening Trading Session and how are the orders processed and matched?
What are the cut-off times on order entries into Hong Kong Stocks?
Does WebTrade offer Market Price Order?

Does WebTrade offer Market Price order?

No. Market volatility may execute Market order with a price deviating from your expectation. We only accepted orders with specific prices (except Pre-opening period's At-Auction orders). However, we provide Better Filled Function which could serve similar needs.

Refer to:
What is Better Filled Function?

What will happen if I place an order?

Once you have placed an order, WebTrade will provide you with a summary of your order and a reference number which is our confirmation that your order has been acknowledged. Please DO NOT disconnect from WebTrade until you successfully receive the reference number. From this point on, you can always find out the status of your order by clicking "Securities Trading" "Order Status".

See Trade Demo for an interactive guide to WebTrade.

How to interpret order status and what action is allowed to do?

The following table shows the possibly different status of your order.

Status Description Action allowed
Pend The order is pending in the system and it will be sent for matching once the market opens Cancel
Inac The order is stored in system which requires activation before send to HKEx. For more details,Please call our 24-hour InvestLine at (852) 2878-5555 or contact your Investment Representative. Cancel
Queue The order is queuing on HKEx. Amend/Cancel
Part Part of the order has been executed and the rest is queuing on HKEx. Amend/Cancel
Comp The order has been fully executed. Nil
Reje The order has been rejected. Please refer to Order Status for reasons. Nil
Canc The order is cancelled and it has been taken away from HKEx for further matching. Nil
Part Canc Part of the order has been executed but the rest has been cancelled and taken away from HKEx for further matching. Nil

How do I amend / cancel my order?

You can amend / cancel the quantity of your orders and prices in these orders if they have not yet been fully executed. However, the amended prices in orders can not be better than the market price as this violates HKEx rule.

To amend / cancel your order, please click on the relevant Amend / Cancel link on the Order Status table under "WebTrade""Securities Trading""Order Status", enter your changes in the appropriate boxes and click [Submit].

Note:
Amending a Sell odd lot order is not accepted. You should cancel the original order and then place a new one.

See Trade Demo for an interactive guide to WebTrade.

What does Pend Cancel mean?

HKEx does not accept a request for orders canceling during 09:15 - 09:30 HKT and 12:00 - 12:30 HKT. Hence, WebTrade will store the request and process it when the market opens again. This is indicative of Pend Cancel. Please note: the request for orders canceling is not guaranteed to be accepted by HKEx as the order may have been executed. So clients are advised to check the status in the Order Status section.

Can I amend queuing orders during periods of pre-open blocking time and lunch time?

No, WebTrade does not allow order amendment in the periods (they are respectively 09:15 - 09:30 HKT and 12:00 - 13:00 HKT) as this violates HKEx rules. However, during the lunch time period, you can make a request for order canceling. Thereafter, wait until it has been cancelled and then place a new one with amended information.

What is the settlement currency for the order?

The settlement currency is the trading currency for HK Stocks, which will be shown when you preview your order. Please ensure sufficient settlement currencies are available to avoid interest charges.

What are the cut-off times on order entries into Hong Kong Stocks?

To ensure the smooth processing of your order entries, please note the following schedule:

Order Type Action Time (HKT)
09:00
-
09:15
09:15
-
09:20
09:20
-
09:30
09:30
-
12:00
12:00
-
12:30
12:30
-
13:00
13:00
-
16:00
16:00
-
16:01
16:01
-
16:06
16:06
-
16:08
16:08
-
16:10
16:10
-
16:40
16:40
-
09:00
Limit New
Amend
Cancel
At-Auction New
Amend
Cancel
: Orders received will be processed immediately
: Orders received will be processed in the next trading session
: Orders rejected

* KGI strongly recommends our customers to check the status of their order before placing a new order, particularly at the lunch break, as orders could just have been executed / cancelled when the market opens next.

*For Closing Auction Session (16:01-16:10), the schedule above is only applicable for the order(s) in the CAS securities list.

What is the Pre-Opening Trading Session and how are the orders processed and matched?

To enhance the fairness and transparency of the determination of opening prices for the listed securities, HKEx has implemented a Pre-Opening Trading Session (between 09:00 - 09:30 HKT) to allow for order matching by a single price auction mechanism.

The half-hour Pre-Opening Trading session consists of several such distinct periods

Order input period

:09:00 - 09:15 (HKT)
Pre-order matching period :09:15 - 09:20 (HKT)
Order matching period :09:20 - 09:28 (HKT)
Blocking period :09:28 - 09:30 (HKT)

Note that these periods do not correspond to the cut-off times on order entries via WebTrade and are only a reflection of the HKEx terminal activities.

All limit and At-Auction orders, if matched successfully in the pre-opening trading session, will be executed at a single price known as the final Indicative Equilibrium Price (IEP) of that security. No market-making is involved in this auction mechanism.

Refer to:
What are the cut-off times on order entries into Hong Kong Stocks?
What do Indicative Equilibrium Price (IEP) and Indicative Equilibrium Volume (IEV) mean?

What do Indicative Equilibrium Price (IEP) and Indicative Equilibrium Volume (IEV) mean?

  • Indicative Equilibrium Price (IEP)

    The IEP is the price at which the maximum number of shares can be traded if matching occurs at that time with the final IEP (if any) of each security determined at 09:20 HKT.

  • Indicative Equilibrium Volume (IEV)

    The IEV is the quantity of shares that could be matched at the IEP.

The nominal price equals the IEP if IEP is available, but it is the previous closing price if IEP is not available. Along with IEV, IEP is continuously re-calculated each time a new order is input during periods of the order input and pre-order matching. Orders are matched by order type, price and time priority at the final IEP and with At-auction orders carrying a higher priority over at-auction-limit orders.

What is Better Filled Function?

If you place an order in which prices are higher than ones in a current Ask order or Sell order which are lower than the current-bid, the system will fill your order at the currently available best price.

Nevertheless, orders may not be filled if the market price rapidly surpass the prices in the order and therefore the order will be stopped from completion.

What is Price-checking validation?

Orders in which prices are nine times the nominal price or have 20 price spread will be rejected by HKEx.

In general, orders where prices are 20% more than the nominal price will be rejected by KGI.

However, for stock prices below HKD 0.05, please refer to the following table:

Price Range Acceptable price range %
0.01-0.02 100%
0.02-0.03 50%
0.03-0.04 33%
0.04-0.05 25%

Orders whose prices exceed the above Price Range will be rejected.

Example : If a Current Bid / Ask price for a stock is HKD 0.024 / HKD 0.025 and a price in a SELL order is placed at HKD 0.04, the latter price is within 20 price spread (in this case, the price in the order is within 15 spread) but over the Acceptable price range (50%). Therefore, this SELL order will be rejected.

What is the minimum price spreads of different stock prices?

Hong Kong Exchanges and Clearing Limited (HKEx) has already implemented the regulation of reducing minimum trading spread for shares trading from Monday, 24 July 2006, which is between HKD 2 to HKD 20. And all securities other than stock options, debt securities and securities authorised to be traded in accordance with the minimum trading spread for debt securities will have the same minimum trading spread as shares.

Current Price Spread :

Price from (HKD) Minimum Spread
0.01 0.001
0.25 0.005
0.50 0.010
1.00 0.010
2.00 0.010
5.00 0.010
10.00 0.020
20.00 0.050
100.00 0.100
200.00 0.200
500.00 0.500
1,000.00 1.000
2,000.00 2.000
5,000.00 - 9,995.00 5.000

What factor would delay orders to be timely execute?

There are many factors that can cause delays in the course of execution including but not limited to market volatility, the speed of Internet Service Provider(ISP) and limitations on system loading capacity. Delays in receiving confirmation of an order execution may prevent you from knowing whether or not your original order has been executed. You should monitor the order status instead of simply placing the order again to avoid repeatedly buying the same stocks you want to own and selling stocks you may not want to.

Prior to cancellation or amendment, please be sure that original transactions have not been executed. Do not base the assumption on electronic receipts that the order has been cancelled or amended. Please call our 24-hour InvestLine at (852) 2878-5555 or contact your investment consultant if having doubt

What types of account information can I view via WebTrade?

You can view your Stock Holdings, Cash Balance, Order Status and Portfolio holdings on WebTrade. Moreover, you can also view your daily Client Statement on-line if you have Acrobat Reader 4.0 (or above) and Acrobat Asian Font Package installed in your computer.

See Trade Demo for an interactive guide to WebTrade.

If I hold a physical share certificate for a new stock, when can I sell it and withdraw relevant sales proceeds?

First of all, before selling these new shares, you MUST ensure KGI has received your actual share licence (s) so that we can update all the relevant information of your stock holdings stored in our system. If the shares can be delivered to KGI's head office directly by 09:30 (HKT) on T-day*, then you may sell the shares on T+1 working day. For shares collected via one of our branches by 09:30 (HKT) on T-day*, you may sell the shares on T+2 working days.

Withdrawal of sales proceeds in physical shares deposit(s) will require the verification of registration by the Central Clearing and Settlement System (CCASS). Normal processing will take 10 to 14 business days (HKT), while Express processing (subject to approval by the respective Registrar) will take 6 business days (HKT) and need to pay additional registration and handling fee for.

*Excluding Saturdays, Sundays and Public Holidays

What is Italian Financial Transactions Tax ("IFTT")?

With effect from 1 March 2013, transactions involving transfer of ownership of shares issued by companies resident in Italy and certain other financial instruments may be subject to IFTT. Pending clarification of the issues related to IFTT and its implications, to minimize administration costs (if any) to our clients, we will stop accepting any orders for trading the relevant shares and financial instruments (including but not limited to shares in PRADA S.p.A. (stock code 01913) and its related warrants) which may be subject to IFTT effective from 1 October 2013 until further notice.

What is the Volatility Control Mechanism (VCM)?

The VCM is applicable during Continuous Trading Session (CTS) except the first 15 minutes of the morning and afternoon CTS and the last 15 minutes of the afternoon CTS. It is applicable to the 81 Hang Seng Index (HSI) and Hang Seng China Enterprise Index (HSCEI) constituent stocks (the stock). If the stock is ±10% away from the last traded price 5-minute ago, a 5-minute cooling-off period will be triggered. During the cooling-off period, the affected stock will only be allowed to trade within a fixed band. Normal continuous trading will resume when the 5-minute cooling off period ends and the stock cannot be subject to the VCM again in the same trading session.

For details, please refer to the following link: http://www.hkex.com.hk/vcm/en/index.htm

What instruments are covered under VCM?

For the securities market, the VCM will cover Hang Seng Index (HSI) and Hang Seng China Enterprise Index (HSCEI) constituent stocks (as of 19 July 2017 there were 80 such stocks listed on the Stock Exchange of Hong Kong).

What is a Closing Auction Session (CAS)?

Closing auction, which allows trades to be executed at the closing price, is a trading mechanism commonly used in global securities markets. During a closing auction, market participants interested in trading at the closing price may input buy and sell orders. Then their orders interact with each other to form a consensus closing price for each security and all orders will then be executed at that price.

For details, please refer to the following link: http://www.hkex.com.hk/cas/en/index.htm

How does the CAS work?

In the first period (Reference Price Fixing Period, 16:00-16:01/12:00-12:01 (for half day trading) (HKT), a reference price, which sets the allowable price limit of the CAS (±5 percent from the reference price), is calculated for each CAS security. The reference price is determined by taking the median of 5 nominal prices in the last minute of the CTS.

In the second period (Order Input Period, 16:01-16:06/12:01-12:06 (for half day trading) (HKT), at-auction orders and at-auction limit orders within the ±5 percent price limit can be entered, amended or cancelled.

In the third period (No-Cancellation Period, 16:06-16:08/12:06-12:08 (for half day trading) (HKT), at-auction orders and at-auction limit orders can be entered. However, the prices of new at-auction limit orders must be between the lowest ask and highest bid of the order book and no orders can be amended or cancelled.

In the last period (Random Closing Period, 16:08-16:10/12:08-12:10 (for half day trading) (HKT), the order rules from the No-Cancellation period apply and the market closes randomly within two minutes. After the period, orders for all CAS securities are matched at the final IEP. In cases where no final IEP is established during the CAS, the reference price would become the closing price. This price would also be used for order matching based on matching priority, i.e. by order type, price and then time

What securities are covered under CAS?

The CAS includes all the Hang Seng Composite LargeCap, MidCap and SmallCap Index stocks, the H shares which have corresponding A shares listed on the exchanges in Mainland China and all ETFs.

What would be the changes to trading hours in the securities market after the launch of CAS?

With the introduction of the new CAS, the securities market closing time will change from 16:00 to a random closing of anytime between 16:08 and 16:10.

Can I enter, amend or cancel order(s) which is (are) beyond the price limit range during Closing Auction Session?

No. Trading will be allowed only for the order(s) within the price limit range during Closing Auction Session.

  • If you enter order(s) which is (are) beyond the price limit range, the order(s) will be rejected.
  • If you amend order(s) which is (are) within the price limit range to beyond the price limit range, the order(s) will be rejected.
  • If you amend order(s) which is (are) beyond the price limit range to within the price limit range, the order(s) will not be allowed.
  • If you cancel order(s) which is (are) beyond the price limit range, the order(s) will be canceled.

  • RMB-Denominated Securities

    What currencies shall I use to settle my trading of RMB-denominated securities listed on HKEx ("RMB Shares")?

    You need to use the RMB to settle your purchase of RMB Shares

    1. You have sufficient RMBs in your Trading Account
    When you purchase RMB Shares on a certain trading day ("T"), KGI will deduct needed RMBs from your Trading Account on T+2.

    If you do not have sufficient RMBs in your Trading Account but subsequently make the deposit rise to the sufficient amount at or before 17:00 (HKT) on T+1 and duly notify our Customer Service Officers or your Investment Representative it, KGI will deduct the amount of RMB from your Trading Account on T+2.

    2. You do not have deposits in RMB in your Trading Account
    If you purchase RMB Shares on T day and deposit enough RMBs into KGI's bank account after 17:00 (HKT) on T+1, the purchase will not be able to settled by the RMBs you deposited. KGI will settle the purchase in RMB and deduct HKDs equivalent to the RMBs (calculated at an HKEx rate determined by KGI) from your Trading Account on T+2. (Note 1) Please note that if you do not have sufficient HKDs in your Trading Account, you will be charged interest on the resulting HKD debit balance from T+2.

    3. You do not have sufficient RMBs in your Trading Account
    If you purchase RMB Shares on T day but (1)not have sufficient RMBs in your Trading Account or (ii) have not deposited sufficient RMBs into KGI's bank account at or before 17:00 (HKT) on T+1 or (iii) have deposited sufficient RMBs into KGI's bank account at or before 17:00 (HKT) on T+1 but have not duly notified our Customer Service Officers or your Investment Representative, KGI will deduct RMBs available in your Trading Account (if any) and deduct HKDs equivalent to the rest of the needed RMBs (calculated at an HKEx rate determined by KGI) from your Trading Account on T+2. (Note 1) Please note that if you do not have sufficient HKDs in your Trading Account, you will be charged interest on the resulting HKD debit balance from T+2.

    You purchase and sell RMB Shares on the same T day
    When you purchase and sell RMB Shares on T day, the trading will be settled in RMB and if there is net surplus, it will be deposited into your Trading account in RMB.;if there is the shortfall in RMB in your Trading Account, KGI will deduct RMBs available in your Trading Account (if any) and deduct HKDs equivalent to the shortfall in RMB (calculated at an HKEx rate determined by KGI) from your Trading Account on T+2. (Note 1) Please note that if you do not have sufficient HKDs in your Trading Account, you will be charged interest on the resulting HKD debit balance from T+2.

    Note 1: The applicable HKEx rates will be determined by KGI from time to time. RMB HKEx rate is subject to market liquidity and availability. Though customers may request KGI to buy/sell RMBs to cover their trade settlement, KGI cannot guarantee there be sufficient RMB liquidity and availability in the market.

    What currencies shall I use to pay the fee and charges associated with RMB Shares trading?

    For secondary trading of RMB- Shares, you should pay stamp duty, SFC levy, SEHK trading fee, clearing fee and other trading related fees and charges by KGI in RMB.

    If you use other currencies to meet the fees and charges associated with the trading of RMB Shares, the the fees and charges paid in such currencies will be calculated at HKEx rates determined by KGI and such HKEx rates may be different from those published on the HKEx website.

    I have deposited HKDs into my Trading Account and converted it to RMBs for trading RMB-denominated securities, but the order has been not successfully placed or executed. Can I withdraw the fund in RMB from my Trading Account

    No. All converted RMBs via your KGI Trading Account must be used for trade settlement. If you would like to make a withdrawal, you must convert it back to the originally deposited currency or other non-RMB currencies agreeable to KGI before making a withdrawal.

    FFor example, if you have deposited HKD 1,000,000 and converted it into the equivalent RMBs but if the converted RMBs are not used for trade settlement, you must convert it back to HKDs or other non-RMB currencies agreeable to KGI before making a withdrawal.