Download
Download by
Scanning QR Code
Download app
Download app

What is the closing auction trading period (CAS)?

The closing bidding trading period (CAS) is divided into four stages from 16:00 to 16:10: the reference price pricing period (1 minute), the input trading time (5 minutes), the irrevocable period (2 minutes), and the random closing time (2 minutes).


[Reference price pricing (16:00 to 16:01)]

Reference price: calculation and publication

Order modification: cannot enter, cancel and change


[Enter order period (16:01 to 16:06)]

Price limit: ±5% of the reference price

Order type: At-auction order, At-auction limit order

Order modification: input, cancel and change


[Irrevocable period (16:06 to 16:08)]

Price limit: between the lowest selling price and the maximum

Order type: At-auction order, At-auction limit order

Order modification: input, cancel and change


[Random closing time (16:08 to 16:10)]

Price limit: between the lowest selling price and the maximum

Order type: At-auction order, At-auction limit order

Order modification: input, cancel and change

Note: The actual closing time is randomly determined by the system.


[Phase I]

1. Major index components: the Hang Seng Composite large Stock Index and the Hang Seng medium-sized Stock Index, with H shares corresponding to A shares;

2. All exchange-traded funds.


[Phase II] (currently applicable)

1. The list of securities was expanded to include stocks in the Hang Seng Composite Index;

2. The second stage includes the scope of application of the first stage.

Back to the Top