hong-kong-marketslisted

# Hong Kong markets Load the issuer's dated board lot before sizing an order. Measure portfolio weights against account NAV, including cash, and treat Connect quota exhaustion as state rather than a balance. ## Lots and measured portfolio error ✅ [HKEX securities-market FAQ](https://www.hkex.com.hk/Global/Exchange/FAQ/Securities-Market/Trading/Securities-Market-Operations?sc_lang=en), checked 2026-09-14: issuers determine board lots. Odd lots exist and can trade in the special-lot market; they are not accepted for automatic matching in the ordinary board-lot book. Therefore an odd-lot position is possible, but an ordinary-book backtest cannot assume it gets that fill. Use dated [security lists](https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx). ✅ Measured 2026-09-14 by `scripts/hong_kong.py`: 60 synthetic names with a realistic spread of lot sizes. The recovered source-era frequency weights are fixed scenario inputs; the original workbook is not bundled, so the script does not claim a current count of listed securities. | Account capital (HKD) | Zero positions after rounding | Maximum NAV weight error | Unspent cash | |---|---|---|---| | 1,000,000 | 32 / 60 | 166.7 bp | 63.96% | | 5,000,000 | 0 / 60 | 75.2 bp | 11.64% | | 20,000,000 | 0 / 60 | 25.1 bp | 3.01% | | 100,000,000 | 0 / 60 | 4.5 bp | 0.56% | 🚨 Dividing holdings by deployed capital instead of NAV produces a different statistic. The script returns `deployed_weight`