"Shanghai Composite Index" is not stock index futures! ! !
The Shanghai Composite Index is the "Shanghai Composite Index"-(Shanghai Stock Composite Index)
Shanghai stock composite index.
Usually referred to as "Shanghai Stock Exchange Index"
The "Shanghai Composite Index" is compiled by the Shanghai Stock Exchange, with all the stocks listed on the Shanghai Stock Exchange as the calculation range and circulation as the weight. The Shanghai Composite Index reflects the overall trend of the Shanghai Stock Exchange market.
The Shanghai Stock Exchange will select a sample of listed companies in Shanghai that have completed the share-trading reform, and release a new Shanghai Composite Index to reflect the market trend of these stocks and provide investors with new investment standards. It is reported that the "new composite index" of G shares will be released on the first trading day of 2006.
The release of the new Shanghai Composite Index is based on 65438+February 30, 2005.
Based on the total market value of all sample stocks on that day, the basis point is 1000 points. The new Shanghai Composite Index is referred to as "New Composite Index" for short, and the index code is 0000 17.
The "New Composite Index" is currently composed of all G shares of Shanghai Stock Exchange. Since then, the stocks that implemented the share-trading reform have been included in the index on the second trading day after the implementation of the plan. The index is weighted by the total share capital.
According to statistics, based on the closing price of 65438+February 2005, the total market value of "New Composite Index" is 392.7 billion yuan, and the circulating market value is142.5 billion yuan, accounting for 18% and 22% of the market share respectively. With the deepening of share-trading reform, the market share of "New Composite Index" will gradually increase. In June 5438+February 65438+May 2005, the price-earnings ratio of "New Composite Index" was 12. 14 times, which was 23.47% lower than that of Shanghai Composite Index.
The person in charge of the Shanghai Stock Exchange said that the new Shanghai Composite Index is an index released by the authority of China stock market to reflect the company profile after the implementation of the share-trading reform. With the comprehensive promotion of the share-trading reform, the new Shanghai Composite Index will add new samples. (End)
After New Year's Day, the samples of "New Shanghai Composite Index" are all G shares.
Yesterday, the Shanghai Stock Exchange announced that it would release the new Shanghai Composite Index on the first trading day of 2006 in order to cooperate with the share-trading reform and meet the market demand.
The new Shanghai Stock Exchange Index is an index released by the authoritative organization of China securities market to reflect the overall situation of the company after the implementation of the share-trading reform. With the comprehensive promotion of the share-trading reform, new sample stocks will continue to join the new Shanghai Composite Index. In the near future, with the completion of share reform by most listed companies in the market, the new Shanghai Composite Index will gradually become the core index that dominates the market.
The Shanghai and Shenzhen 300 Index will adjust the sample stock list again.
As the first unified index covering the two major markets in China stock market, the Shanghai and Shenzhen 300 Index will adjust the list of sample stocks again. According to the news from CSI Index Co., Ltd., this sample stock adjustment will take effect on the first trading day of 2006.
Deep finger syndrome
SZSE Component Index is the main stock index of Shenzhen Stock Exchange. It selects 40 representative listed companies as constituent stocks according to certain standards, and uses a comprehensive method to compile the stock price index with the number of circulating stocks as the weight. Starting from 1 May 9951,the base number is 1000 points. Its basic formula is:
Stock price index = total market value of current constituent stocks/total market value of basic constituent stocks × 1000.
The calculation method is as follows: 40 stocks of listed companies with market representativeness are selected from all the stocks listed in Shenzhen Stock Exchange as samples, and the weighted average method is used to calculate the shares with the benchmark date of1July 20, 1994, and the benchmark index is set to 1000 points.
introduce
In order to ensure the objectivity and fairness of the sample of constituent stocks, constituent stocks do not engage in tenure. The Shenzhen Stock Exchange regularly checks the representativeness of constituent stocks, promptly replaces companies with reduced representativeness, and selects more representative companies. Of course, the change will not be too frequent, and the inspection time is 1 month, May and September every year.
According to the basic principle of adjusting constituent stocks and referring to international practice, Shenzhen Stock Exchange has formulated scientific standards and a method of selecting constituent stock samples step by step, that is, the shortlisted companies are determined from all listed companies according to the primary selection criteria, and then the selected constituent stock samples are determined from the shortlisted companies.
1. Confirm the shortlisted companies. The criteria for determining the shortlisted companies include three requirements: time to market, market size and liquidity:
(1) has a certain listing date, which should generally be more than 3 months.
(2) It has a certain listing scale. The market value of listed companies accounts for the market proportion (3-month average) in descending order, and the shortlisted companies are among the 90%.
(3) Having certain market liquidity. The transaction amount of listed companies in the market share (3-month average) is arranged and accumulated in descending order, and the shortlisted companies are among 90%.
2. Determine the sample of constituent stocks. After the shortlisted companies are determined according to the above criteria, the selected sample of constituent stocks is determined by combining the following factors:
(1) circulating market value and turnover of the company;
(2) the industry representativeness of the company and its growth;
(3) the company's financial status and operating performance (review of the past three years);
(4) Standardized operation of the company within two years. By giving scientific weight to the above factors and quantifying them, the sample of constituent stocks in various industries is selected.