What is closing auction?Closing Auction
For a few minutes before the close, orders are collected without trading, then matched all at once at a single price, which becomes the closing price.
Learn “closing auction” in an animated lesson
- China A-Share RulesTrading Hours: The Sessions of the Day
A-shares start taking orders at 9:15, open at 9:30, break for an hour and a half at lunch and close at 15:00, and each session works differently.
- Hong Kong Stock RulesTrading Sessions: Pre-opening, Continuous Trading and the Closing Auction
Hong Kong takes orders from 9:00, starts continuous trading at 9:30, breaks for an hour at lunch and runs a closing auction after 16:00, and each phase works differently.
- Japan Stock RulesMorning Session, Afternoon Session and Itayose
The Tokyo Stock Exchange trades 9:00–11:30 in the morning and 12:30–15:30 in the afternoon; at both the open and the close, orders are gathered first and then matched all at once at a single price.
- Korea Stock RulesSingle-Price Auctions and the Regular Session
The Korean market takes orders from 8:30, opens at 9:00 and closes at 15:30; both the open and the close are priced by single-price auctions, and there are two after-hours periods after the close.
- Taiwan Stock RulesPre-market, Intraday Trading and the Closing Call Auction
Taiwan takes orders from 8:30, opens at 9:00, runs a 5-minute closing call auction from 13:25 and closes at 13:30; after the close there's also after-hours fixed-price trading.
Related terms
See how “closing auction” works for yourself with an animation you can drag and play.
Go to “Trading Hours: The Sessions of the Day”