Hong Kong exchange (HKEx) opens at 9.30am and closes at 4pm. Payment for purchase on HKEx has to be made by Trade Date + 2 market days. Force-selling of shares is done on Trade Date + 4 market days. Short selling isn’t allowed on HKEx.
Payment in HKD can be done using cheques from UOB HKD accounts. Cheques from other banks are not accepted.
Payment for trades can be made using GIRO through DBS/POSB, UOB and OCBC bank accounts.
Untagging of GIRO has to be done on contract due date. Finance Department (EPS Receipt/ Retail Trade Receipt) has to be informed to do the untagging.
Unlike GIRO, Electronic Payment for Shares (EPS) has to be effected by client (online or ATM) for payment. EPS can be done using joint trading account for individual account.
Sale proceeds are automatically credited to bank account for both GIRO and EPS. Payment mode can be changed to GIRO by submitting an application form.
Sale proceed: UOB Kay Hian EPS money to bank on morning of due date. However, the money reaches client’s bank account at 7-8 pm on due date or due date +1 day depending on the bank.
Uplift and EPS of money from trust account: Money will be in bank account on uplift date + 2 days (evening).
‘Application for Electronic Payment for Shares (EPS)’
form is at the following link:
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