A shares
What is A-share?
A-shares, namely RMB ordinary shares, are ordinary shares issued by companies registered in China and listed in China, which are denominated in RMB, for domestic institutions, organizations or individuals to subscribe and trade in RMB.
A shares are not physical shares. Electronic recording, paperless, implementation of "T+ 1" delivery system, price limit (10%). The participating investors are Chinese mainland institutions or individuals. The stocks of listed companies in China include A shares, B shares, H shares, N shares and S shares.
Cost calculation:
1. Stamp duty: 1%. This is the national tax, which is unified throughout the country. One-way charge after 2008, only available at the time of sale).
2. transfer fees: Shenzhen Stock Exchange does not have this fee, but Shanghai Stock Exchange charges (per 1 10,000 shares 1 yuan, less than 1 10,000 shares 1 yuan).
3. Transaction commission: 3% at the highest and 5 yuan at the lowest. Each brokerage firm charges different fees, so you can consult clearly before opening an account.
trading hour
9: 15-9:25 call auction (9: 15-9:20 can declare and cancel; 9: 20-9: 25).
Bidding will continue before 9: 30- 1 1: 30, and after 03: 00- 15: 00.
At other times, the trading system does not accept declarations. For stocks suspended for one hour, the trading system will not accept the declaration and withdrawal of the stock during the suspension period (9: 30- 10: 30).
trading hour
9: 15-9:25 call auction (9: 15-9:20 can declare and cancel; 9: 20-9: 25).
Before 9: 30- 1 1: 30, bid continuously.
After 13: 00- 15: 00, bid continuously.
The trading unit of a stock is "shares", 100 shares = 1 lot, and the number of entrusted purchases must be 100 shares or an integral multiple thereof. When the entrusted quantity cannot be fully sold or delivered with dividends, there may be zero shares, which can only be sold by entrustment.
Circuit breaker mechanism
The fuse mechanism, also known as automatic stop mechanism, refers to the measures taken by the exchange to suspend trading to control risks when the stock index fluctuation reaches the specified fuse point.
According to the detailed rules previously issued by CICC, the maximum daily price fluctuation of stock index futures is limited to 7% of the settlement price of the previous trading day. If the benchmark index rises or falls less than 5% compared with the closing price of the previous trading day, the fluctuation range of the stock index futures price shall be limited to 5% of the settlement price of the previous trading day.