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      Japanese stock market

      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

      To trade Japanese stocks, please follow the steps below:

      • 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

      Trading hours

      The Tokyo Stock Exchange operates from Monday to Friday during standard trading hours.

       

      Tokyo Time

      Singapore 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 opens

      The 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 Singapore Time(SGT) and determines the day's opening price. The morning trading session ends at 10:30 AM SGT and establishes the morning's closing price. The closing auction session lasts from 2:25 PM to 2:30 PM SGT 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.

       

      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.

       

      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.

       

      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

       

      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.

       

      Trading Fees

      For more details about trading fees, click <link>.

       

      4. Order Types

      Supported order types

      • Limit Order

      • Market Order

      • Stop Limit Order

      • Stop Order

      • Limit-If-Touched Order

      • Market-If-Touched Order

      • Trailing Stop Limit Order

      • Trailing Stop Order

       

      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:

      • Submit pre-set orders after the morning session closes at 10:30 Singapore Time.

      To place pre-set orders for the next trading day:

      • Submit pre-set orders after the current day's market closes at 14:30 Singapore Time.

       

      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).