When trading Hong Kong stocks on the Tiger Brokers trading app, specifically using the Tiger Trade app, it’s important to understand the various trading sessions, including the At-auction Session. The At-auction session is a critical time frame that allows you to place and amend orders before the official market opens. Here’s a breakdown of how the At-auction Session works and what you need to know to make the most of it.
What is the At-auction Session?
The At-auction Session is a designated time period before the official market opening where traders can place, amend, or cancel orders. During this session, Hong Kong stocks can be traded, but the orders aren’t yet executed until the market opens at 9:20 AM. This session allows traders to adjust their strategies and positions ahead of the market’s official opening.
At-auction Session Timeline:
HKT 9:00 AM – 9:20 AM:
This is when At-auction orders can be entered and amended.
You can place your buy and sell orders for Hong Kong stocks during this time, but these orders will not be processed yet.
You can also modify your existing orders to adjust them based on the latest market conditions.
HKT 9:20 AM:
At this time, the HKEX (Hong Kong Exchanges and Clearing) processes all At-auction orders.
The system matches buy and sell orders based on the auction mechanism, helping to determine the opening prices for stocks.
Once processed, your orders will be ready to be executed when the market officially opens.
HKT 9:30 AM:
Pending At-auction orders that have not been processed by HKEX will be automatically cancelled.
It’s essential to ensure that your orders are processed before this time, as any unprocessed orders will not be carried over to the official market session.
Important Note on At-auction Market Orders:
Market orders placed during the At-auction Session will be cancelled automatically.
This means that if you place a market order (an order to buy or sell immediately at the best available price), it will not be executed during the At-auction Session. You’ll need to place a limit order instead to ensure your order is processed.
Why Use the At-auction Session?
The At-auction Session provides several advantages for traders:
Price Discovery: It allows for price discovery before the official market opens, helping you understand where the stock prices might move.
Order Flexibility: You can enter and amend orders based on early market activity or news.
Pre-market Strategy: If you expect volatility or specific price movements, this session allows you to position yourself ahead of the opening bell.
How to Trade During the At-auction Session on Tiger Trade?
To trade during the At-auction Session on the Tiger Trade app, follow these steps:
Open the Tiger Trade app and select the HK stock market.
Choose At-auction orders when placing your trade, ensuring that your orders are entered between 9:00 AM and 9:20 AM HKT.
Be aware of the market order cancellation rule, and place limit orders if you want to guarantee your order gets processed.
Monitor the status of your orders after 9:20 AM HKT and ensure they are processed in the auction.
Conclusion
Understanding the At-auction Session is an essential part of trading Hong Kong stocks on Tiger Brokers’ Tiger Trade app. By placing your orders within this window, you can position yourself ahead of the market’s official opening. Remember to check the session times, avoid placing market orders during this period, and ensure your orders are processed before the 9:30 AM cut-off to avoid automatic cancellations.
