FAQ

In the Hong Kong stock market, customers can only place limit order trading instructions. Luk Fook Securities (Hong Kong) Limited provides three types of limit order trading instructions:

Limit order – A limit order can only specify price matching. The input price for a sell order cannot be lower than the best bid price (if any), and the input price for a buy order cannot be higher than the best sell price (if any). Any outstanding limit orders will be placed in the queue at the entered price.

Enhanced limit order – Enhanced limit order can be matched with up to ten queues at the same time (i.e. the best price queue to the 10th queue 9 prices away), as long as the transaction price is not worse than the input price. The input price of a sell order cannot be lower than 10 price points (or beyond) the best bid price, while the input price of a buy order cannot be higher than 10 price points (or beyond) of the best ask price. Any outstanding enhanced limit orders will be treated as limit orders and placed in the waiting queue at the entered price.

Any outstanding special limit orders will be canceled and will not remain in the AMS/3 system. Clients can place orders to be fully executed or canceled immediately. This order can control the execution of the trading order, whether it is fully executed or canceled immediately without placing another order. In other markets, this order is called a fill or cancel order.

For online stock trading in the Hong Kong stock market, same-day trading orders can be set or the validity period can be set for up to 7 trading days, making transactions more flexible.

Buying: For cash accounts, you need to have sufficient funds or eligible securities in the account to buy or sell.
For margin accounts, you need to have eligible securities in the account before you can trade.
Sell: There must be sufficient number of stocks in the account to execute the instruction.
Luk Fook Securities (Hong Kong) Limited does not accept short selling.

For all transactions conducted through Luk Fook Securities (Hong Kong) Limited, the computer will automatically issue an order number after each instruction is confirmed.

In addition to providing transaction confirmations via email, Luk Fook Securities (Hong Kong) Limited also provides customers with the following notifications:

– Issue transaction receipts by email or post.
– Issue monthly statements by email or mail, which list out cash and stock transaction status and account balance information.
– Luk Fook Securities (Hong Kong) Limited provides transaction confirmation for each transaction (once the transaction is executed), which will be sent by email.

Once the instruction is executed, the customer cannot cancel any trading instruction. Trading instructions can only be canceled before the transaction is completed.

If you are trading the same stock, in order to avoid errors or repeated orders, please ensure that you have received a cancellation confirmation notification or that the cancellation status is shown in the transaction status before placing a new transaction order.

The pre-opening session is 30 minutes before the morning continuous trading session starts, that is, 9:00 – 9:30.

At-auction limit orders (AUO) or at-auction orders (AUC) during the pre-market opening period.

At-auction limit orders are buy and sell orders entered at a specified price during the pre-market opening period. Buy orders with a specified price equal to or higher than the final "Informed Equilibrium Price" (IEP), or sell orders with a specified price equal to or lower than the final "IEP", can be matched based on the final "IEP". At-auction limit orders that cannot be matched and the input price does not deviate nine times or more from the nominal price will be converted into limit orders and automatically transferred to the continuous trading session of the day to continue to be listed at the input price until the market closes. If the limit order cannot be matched during the continuous trading session, it will be automatically canceled after the market closes.

At-auction orders (AUC) are market orders without a specified price and have priority over at-auction limit orders (AUO). After an at-auction order is entered into the trading system during the pre-market opening period, the system will match the order based on the final "Inference Equilibrium Price" (IEP), and unfulfilled at-auction orders will be automatically canceled before the start of the continuous trading session. Please note that when entering an auction order, the final transaction price (i.e. the final "reference equilibrium price") is still unknown, and the price may not be within or significantly deviate from your expected range.