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Want to trade flexibly across different markets but always get confused by complicated schedules? One master chart solves everything. The table below shows the complete trading sessions for Taiwan (TWSE), Hong Kong (HKEX), and US markets.
| Market | Local Trading Hours | Taiwan Time (GMT+8) |
|---|---|---|
| HKEX | 09:30–12:00 / 13:00–16:10 | 09:30–12:00 / 13:00–16:10 |
| US (Summer) | 09:30–16:00 ET | 21:30–04:00 (next day) |
| US (Winter) | 09:30–16:00 ET | 22:30–05:00 (next day) |
| TWSE | 09:00–13:30 | 09:00–13:30 |
Mastering the three major market schedules — including Hong Kong market opening hours — is the first step to precise positioning. Whether you day-trade or invest long-term, knowing the exact entry/exit windows dramatically improves your win rate.

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After the quick overview, you probably want more detailed rules. Below we break down each market’s sessions in depth to help you plan your strategy accurately.
Hong Kong has the same time zone as Taiwan, so it’s very intuitive for Taiwanese investors. However, HKEX splits the day into finer segments you must know. Understanding the full HKEX schedule and rules is the first step to successful trading.
HKEX trading is divided into morning session, lunch break, and afternoon session.
| Session | Taiwan Time (GMT+8) | Description |
|---|---|---|
| Pre-opening Auction | 09:00 – 09:30 | Orders can be placed; the system calculates the opening price. |
| Morning Session | 09:30 – 12:00 | Continuous trading – buy/sell anytime. |
| Lunch Break | 12:00 – 13:00 | Market closed – no trading allowed. |
| Afternoon Session | 13:00 – 16:00 | Continuous afternoon trading. |
Advanced Note: Closing Auction Session (CAS / U-Phase) Trading doesn’t end sharply at 16:00 — HKEX enters a Closing Auction Session that runs until around 16:10.
- Coverage: Applies to most major stocks, including Hang Seng Composite constituents, H-shares with A-share counterparts, and all ETFs.
- Random Close: Exact close time is randomized between 16:08–16:10 to prevent last-second manipulation.
- Warrants and CBBCs do not participate in this session.
The biggest thing to watch with US markets is the switch between Daylight Saving Time (summer) and Standard Time (winter) — it directly affects your sleep and trading schedule.
Quick Tip for 2025–2026 DST in 2025 begins on March 9 and ends on November 2. Mark your calendar now!
One of the biggest attractions of US markets is the extremely long trading day, divided into pre-market, regular, and after-hours sessions — giving global investors flexible windows.
| Session | Taiwan Summer Time | Taiwan Winter Time | Description |
|---|---|---|---|
| Pre-Market | 16:00 – 21:30 | 17:00 – 22:30 | Lower volume, higher volatility — often reacts to earnings or major news. |
| Regular Hours | 21:30 – 04:00 | 22:30 – 05:00 | Most active period with best liquidity — where the majority of volume occurs. |
| After-Hours | 04:00 – 08:00 | 05:00 – 09:00 | Lower volume again — continues regular-session sentiment or reacts to fresh earnings. |
Taiwan market is the simplest — continuous trading from 09:00 to 13:30 with no lunch break, perfect for office workers to check during lunch.
| Session | Taiwan Time (GMT+8) | Description |
|---|---|---|
| Regular Session | 09:00 – 13:30 | Main continuous matching session on Taiwan Stock Exchange. |
| After-Hours Fixed-Price | 14:00 – 14:30 | Allows trading at the day’s closing price via batch matching. |
If you miss placing an order before 13:30 close, the after-hours fixed-price session is your second chance — you trade exactly at the official closing price, great for investors who hate chasing highs or cutting lows.

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After understanding each market’s standalone hours, put them together. You’ll see that somewhere in the world, a market is almost always open 24 hours. Analyzing overlaps and holiday closures helps you allocate time and capital more efficiently.
If you line up all three markets on a 24-hour timeline, their “relay” relationship becomes crystal clear — crucial for building a round-the-clock strategy.
Trading Rhythm Summary Simply put: focus on Taiwan + Hong Kong during the day, hand over to US markets at night. Use the global relay to keep your portfolio active non-stop.
Beyond daily hours, always check national holidays — no trading is possible on those days. Plan ahead to avoid missing key windows. Here are the most important annual closures.
Friendly reminder Exact dates shift slightly each year due to weekends. Always double-check the official exchange calendars when planning longer-term trades.
Once you’re comfortable with hours, learn the “devil-is-in-the-details” rules. Lot sizes, price limits, and order timing differ significantly — ignoring them can wreck your strategy.
Minimum order size varies completely across markets.
Daily price movement limits directly affect your potential P&L.
| Market | Daily Price Limit | Market-Wide Circuit Breaker |
|---|---|---|
| Taiwan | ±10% limit per stock | None |
| HK | No daily limit, but Volatility Control Mechanism (VCM) triggers 5-minute cooling period on extreme moves | None |
| US | No daily limit | Market-wide halt triggered when S&P 500 drops 7%, 13%, or 20% |
For example, if a Taiwan stock closed at $100 yesterday, today it can only move between $90–$110. In HK and US markets, theoretically there is no cap on single-day movement.
Beyond regular hours, know when you can actually place orders and the differences in pre/after-hours activity.
A major difference is that Taiwan and Hong Kong do not have the active pre/after-hours sessions that US markets offer — most volume is concentrated in regular hours.
Practical Tips
- HKEX: Orders placed between 09:15–09:20 in the pre-opening auction cannot be canceled or amended — triple-check before submitting.
- US: Limit orders or conditional orders placed via most brokers are usually sent to the exchange around 18:00 Taiwan time and enter the pre-market queue.
Settlement is also changing fast. The US moved to T+1 settlement in May 2024 — you get cash the next business day after selling. Hong Kong plans to follow soon, greatly improving capital efficiency.
Mastering cross-market trading is really about building a rhythm that fits you. A simple plan: Taiwan + Hong Kong during the day, hand over to US at night.
Build Your Own Rhythm Use this guide’s charts and timeline to identify your most alert hours for primary trading. For other windows, consider using conditional orders and automation tools so investing and life stay balanced.
Hope this guide clears up all your timing confusion. Bookmark this page — it will be your best companion for cross-market trading whenever you need a quick reference.
US Daylight Saving Time starts on the second Sunday of March and ends on the first Sunday of November each year. Mark your calendar in advance so you never miss the opening bell.
Yes. Anything below one full lot is called “odd lot” or “broken lot.” You can trade via the odd-lot market, but pricing is usually slightly worse and liquidity lower.
Most brokers offering US stocks allow participation in pre-market and after-hours. Simply select the correct session when placing your order. Keep in mind volume is much lower and price swings can be sharper.
*This article is provided for general information purposes and does not constitute legal, tax or other professional advice from BiyaPay or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or warranties, express or implied, as to the accuracy, completeness or timeliness of the contents of this publication.



