1. Japanese stock market
The Japanese stock market is one of the oldest and largest stock exchanges in Asia. The Tokyo Stock Exchange (TSE) is the most famous stock exchange in Japan and lists many household company names like Sony, Toyota, and Panasonic. The main indices for the TSE are the Nikkei 225 and TOPIX, which are important market indicators widely followed by global investors.
2. How to trade Japanese stocks
Please update the App to the latest version (mobile version V14.12.15408 or above).
To trade Japanese stocks, please follow the steps below:
2.1 Activate Japanese stock trading permissions
1. Search for a Japanese stock
2. Enter the Detailed Quotes page
3. Tap the Trade button
2.2 Start a cash transfer to your Universal Account - Securities
Go to Accounts > Transfers > Cash Transfer
Note:
-
The Japanese stock buying power in your Universal Account - Securities is separate from your other accounts for trading Hong Kong stocks, US stocks, etc. In case a margin call is triggered on your Universal Account - Securities, please make a Cash Transfer to meet the margin call.
- If you don't have separate accounts for trading Hong Kong stocks, US stocks, etc., and only hold a Universal Account, your buying power will be shared across different markets.
-
If you borrow JPY for stock trading in your Universal Account - Securities, margin interest will be incurred. To prevent this, you must exchange non-JPY cash in your account for JPY before trading.
2.3 Place an order for a Japanese stock
Go to Markets > JP > Tap a specific Japanese stock
Or go to Watchlist > Tap the Search icon in the upper right corner > Enter a stock symbol
3. Trading rules
3.1 Trading hours
The Tokyo Stock Exchange operates from Monday to Friday during standard trading hours.
| |
Tokyo Time |
Hong Kong Time |
Description |
| Auction Trading Session(Morning Session) |
08:00 - 09:00 |
07:00 - 08:00 |
Orders can be placed, edited, or cancelled, but won't be matched during this session. |
| Morning Trading Session |
09:00 - 11:30 |
08:00 - 10:30 |
Orders can be placed, edited, or cancelled, and will be matched during this session. |
| Morning Session Close |
11:30 - 12:05 |
10:30 - 11:05 |
Orders can be placed but will be queued before submitting to the exchange when the market opensThe exchange will neither accept orders nor match them during this time. |
| Auction Trading(Afternoon Session) |
12:05 - 12:30 |
11:05 - 11:30 |
Orders can be placed, edited, or cancelled, but won't be matched during this session. |
| Afternoon Trading Session |
12:30 - 15:25 |
11:30 - 14:25 |
Orders can be placed, edited, or cancelled, and will be matched during this session. |
| Closing Auction |
15:25 - 15:30 |
14:25 - 14:30 |
Orders can be placed, edited, or cancelled, but won't be matched during this session. |
| Market Close |
15:30 - 08:00 Next Day |
14:30 - 07:00 Next Day |
Any unfilled day orders will be cancelled. |
Notes:
-
The auction trading session is from 7:00 AM to 8:00 AM Japan Standard Time (JST) and determines the day's opening price. The morning trading session ends at 11:30 AM JST and establishes the morning's closing price. The closing auction session lasts from 3:25 PM to 3:35 PM JST and establishes the day's closing price. For more information on the closing auction,
click here.
-
The Tokyo Stock Exchange does not have pre-market and post-market trading sessions like the US stock market.
-
In addition to weekends and public holidays, the Tokyo Stock Exchange may be closed on certain days as specified on the website.
3.2 Minimum trading unit
The minimum trading unit for Japanese stocks is usually 100 shares (lot size), but different minimum units may apply to certain stocks.
Note: Fractional trading is currently not supported for Japanese stocks.
3.3 Minimum price increment (tick size)
The minimum price increment of Japanese stocks is usually determined by the stock price level. *Stocks with higher liquidity in the TOPIX index will adopt smaller price increments.
|
Stock Price in JPY
|
Minimum Price Increment in JPY
|
|
TOPIX100 Constituents
|
Other
|
|
￥1,000 or less
|
￥0.1
|
￥1
|
|
Above￥1,000 ～ ￥3,000 or less
|
￥0.5
|
￥1
|
|
Above￥3,000 ～ ￥5,000 or less
|
￥1
|
￥5
|
|
Above￥5,000 ～ ￥10,000 or less
|
￥1
|
￥10
|
|
Above￥10,000 ～ ￥30,000 or less
|
￥5
|
￥10
|
|
Above￥30,000 ～ ￥50,000 or less
|
￥10
|
￥50
|
|
Above￥50,000 ～ ￥100,000 or less
|
￥10
|
￥100
|
|
Above￥100,000 ～ ￥300,000 or less
|
￥50
|
￥100
|
|
Above￥300,000 ～ ￥500,000 or less
|
￥100
|
￥500
|
|
Above￥500,000 ～ ￥1,000,000 or less
|
￥100
|
￥1,000
|
|
Above￥1,000,000 ～ ￥3,000,000 or less
|
￥500
|
￥1,000
|
|
Above￥3,000,000 ～ ￥5,000,000 or less
|
￥1,000
|
￥5,000
|
|
Above￥5,000,000 ～ ￥10,000,000 or less
|
￥1,000
|
￥10,000
|
|
Above￥10,000,000 ～ ￥30,000,000 or less
|
￥5,000
|
￥10,000
|
|
Above￥30,000,000 ～ ￥50,000,000 or less
|
￥10,000
|
￥50,000
|
|
Above￥50,000,000
|
￥10,000
|
￥100,000
|
*Note: For the list of stocks with smaller price increments, please refer to the exchange's official website.
3.4 Daily Price Limits
Stock prices are determined in real time based on the balance between bids and asks. However, prices cannot not reach 10 or 20 times the opening price during the day. This is because the Tokyo Stock Exchange sets a price range, known as the "daily price limit", within which price fluctuations are limited in a single trading day.
In rare cases, the exchange may increase a stock's price limit. For example, if a stock does not see any trading volume for several consecutive days due to daily price limits after the release of significantly bullish or bearish news, the exchange may increase the price limit.
|
Base Stock Price in JPY
|
Daily Price Limit in JPY (±)
|
|
Less than ￥100
|
￥30
|
|
￥100 or more ～ ￥200
|
￥50
|
|
￥200 or more ～ ￥500
|
￥80
|
|
￥500 or more ～ ￥700
|
￥100
|
|
￥700 or more ～ ￥1,000
|
￥150
|
|
￥1,000 or more ～ ￥1,500
|
￥300
|
|
￥1,500 or more ～ ￥2,000
|
￥400
|
|
￥2,000 or more ～ ￥3,000
|
￥500
|
|
￥3,000 or more ～ ￥5,000
|
￥700
|
|
￥5,000 or more ～ ￥7,000
|
￥1,000
|
|
￥7,000 or more ～ ￥10,000
|
￥1,500
|
|
￥10,000 or more ～ ￥15,000
|
￥3,000
|
|
￥15,000 or more ～ ￥20,000
|
￥4,000
|
|
￥20,000 or more ～ ￥30,000
|
￥5,000
|
|
￥30,000 or more ～ ￥50,000
|
￥7,000
|
|
￥50,000 or more ～ ￥70,000
|
￥10,000
|
|
￥70,000 or more ～ ￥100,000
|
￥15,000
|
|
￥100,000 or more ～ ￥150,000
|
￥30,000
|
|
￥150,000 or more ～ ￥200,000
|
￥40,000
|
|
￥200,000 or more ～ ￥300,000
|
￥50,000
|
|
￥300,000 or more ～ ￥500,000
|
￥70,000
|
|
￥500,000 or more ～ ￥700,000
|
￥100,000
|
|
￥700,000 or more ～ ￥1,000,000
|
￥150,000
|
|
￥1,000,000 or more ～ ￥1,500,000
|
￥300,000
|
|
￥1,500,000 or more ～ ￥2,000,000
|
￥400,000
|
|
￥2,000,000 or more ～ ￥3,000,000
|
￥500,000
|
|
￥3,000,000 or more ～ ￥5,000,000
|
￥700,000
|
|
￥5,000,000 or more ～ ￥7,000,000
|
￥1,000,000
|
|
￥7,000,000 or more ～ ￥10,000,000
|
￥1,500,000
|
|
￥10,000,000 or more ～ ￥15,000,000
|
￥3,000,000
|
|
￥15,000,000 or more ～ ￥20,000,000
|
￥4,000,000
|
|
￥20,000,000 or more ～ ￥30,000,000
|
￥5,000,000
|
|
￥30,000,000 or more ～ ￥50,000,000
|
￥7,000,000
|
|
More than ￥50,000,000
|
￥10,000,000
|
3.5 Trading restrictions imposed by the exchange
The exchange may use specific measures to restrict the trading of certain stocks that carry risks, including but not limited to imposing a trading halt, lowering the price limit, increasing margin requirements, prohibiting margin trading, etc. For details, please refer to the exchange announcements.
3.6 Trading Fees
For more details about trading fees, click JP stock fees (stocks, ETFs).
4. Order Types
Supported order types
Pre-set orders
You can place pre-set orders during non-trading hours. These orders will be queued for execution until the market opens.
To place pre-set orders for the afternoon session:
To place pre-set orders for the next trading day:
5. Time-in-Force
Set time-in-force when placing an order. Time-in-force can be Day or GTC (Good-Til-Cancelled).
Day
A Day order is active until the market closes on the day it was placed, after which the order will be cancelled.
GTC
A GTC order remains active for 90 days until the order is fully filled, cancelled or experiences order failures. After 90 days, any unfilled GTC orders will be cancelled.
6. Settlement Rules
The Japanese stock market adopts a T+2 settlement cycle, meaning that Japanese stocks settle 2 business days after the transaction day (T+2).
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.