1, the listing place is different: the shares of the US stock index listed on the American exchange; Hong Kong stocks refer to stocks listed on the Hong Kong Stock Exchange.

2. The trading rules are different: US stocks are subject to T+0 trading, with no price limit, two-way trading and T+3 settlement system; Hong Kong stocks are subject to T+0 trading, with no price limit, two-way trading and T+2 settlement system.

3. The trading hours are different: US stocks are in daylight saving time (2 1: 30 pm- 4:00 am the next day) and winter time (22: 30 pm- 5: 00 am the next day); The opening hours of Hong Kong stocks are 9:30- 10:00, the morning market is 10:00- 12:30, and the afternoon market is 14:30- 16:00.