page_title: Hong Kong Stock Exchange
section_title: Trading hours
hierarchical_section_title: Hong Kong Stock Exchange / Trading hours
caption_attribution_description: English: With Chairman of the Hong Kong Stock Exchange Ronald Arculli. Русский: С председателем фондовой биржи Рональдом Аркулли.
context_page_description: The Stock Exchange of Hong Kong is a stock exchange based in Hong Kong. It is Asia's third-largest in terms of market capitalization immediately behind the Tokyo Stock Exchange and Shanghai Stock Exchange, and the fourth single largest stock market in the world. As of 2018, it has 2,315 listed companies with a combined market capitalization of HK$29.9 trillion, making Hong Kong's per capita capitalization more than half-million US$. It is reported as the fastest growing stock exchange in Asia.
  The stock exchange is owned by Hong Kong Exchanges and Clearing Limited, a holding company that it also lists. The physical trading floor at Exchange Square was closed in October 2017.
context_section_description: The trading day consists of:
  A pre-opening auction session from 9:00 am to 9:30 am. The opening price of a security is reported shortly after 9:20 am.
  A morning continuous trading session from 09:30 am to 12:00 pm.
  An extended morning session from 12:00 noon to 1:00 pm, also referred to as the lunch break. Continuous trading proceeds in specifically-designated securities (currently two ETFs, 4362 and 4363). Trading in other securities is not possible. However, previously-placed orders in any securities can be cancelled from 1:00 pm onwards.
  An afternoon continuous trading session from 1:00 pm to 4:00 pm.
  The closing price is reported as the median of five price snapshots taken from 3:59 to 4:00 pm every 15 seconds. In May 2008, the exchange also implemented a closing auction session to run from 4:00 pm to 4:10 pm, with a similar pricing mechanism as the opening auction; however, this resulted in significant fluctuations in the closing prices of stocks and suspicions of market manipulation. Initially, the exchange proposed limiting price fluctuations in the auction sessions to 2%; in the end, they removed the closing session entirely in March 2009.
  Up until 2011, trading hours comprised a pre-opening auction from 9:30 AM to 9:50 AM, followed by continuous trading from 10:00 AM to 12:30 PM and 2:30 PM to 4:00 PM. The two-hour lunch break between the morning and afternoon sessions was the longest among the world's 20 major stock exchanges. A 2003 proposal to shorten the lunch break failed due to opposition from brokers. Another plan to shorten the lunch break to one hour was floated by the exchange in 2010; the morning session would then start earlier, run from 9:30 am to 12:00 pm, and the afternoon session from 1:00 pm to 4:00 pm, leaving the closing time the same as before. Justifications included bringing hours into line with China. Reactions from both brokers and the restaurant industry were mixed.
  On 7 March 2011, the exchange extended its hours in the first of two phases. The morning session now ran from 9:30 am to 12:00 noon, followed by a ninety-minute lunch break, and an afternoon session from 1:30 pm to 4:00 pm. Index futures and options now began trading at 9:15 am, thirty minutes earlier than before, and closed at the same time as before, 4:15 pm. On 5 March 2012, the lunch break was cut to sixty minutes, with the afternoon session running from 1:00 pm to 4:00 pm.
caption: Russian President Dmitry Medvedev with exchange Chairman Ronald Arculli during a visit to Hong Kong on 17 April 2011.
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