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What do you mean the market falls below 3400 points?
A market drop below 3,400 points generally means that the Shanghai Composite Index falls below 3,400 points. The Shanghai Composite Index is obtained by the weighted average of the constituent stocks of the Shanghai Stock Exchange (science and technology innovation board stocks are listed on the Shanghai Stock Exchange, and the Shanghai Composite Index does not include science and technology innovation board stocks), which reflects the overall ups and downs of the constituent stocks in the index. The code of the Shanghai Composite Index is 0000 1.

Shanghai Stock Composite Index, English: Shanghai Stock Composite Index. Usually referred to as "Shanghai Composite Index" (Shanghai Composite 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 general trend of the Shanghai Stock Exchange market.

Securities trading, in English, refers to the behavior of securities holders to transfer securities to other investors in accordance with trading rules. Securities trading is a transaction of securities issued according to law and subscribed by investors, a transaction of specific rights with property value and a transaction of standardized contracts. The ways of securities trading include spot trading, futures trading, option trading, credit trading and repurchase. The market formed by securities trading is the trading market of securities, that is, the secondary market of securities.

Transaction form

Securities trading is generally divided into two forms: one is listed trading, which refers to the centralized trading and listing of securities in the stock exchange. All securities registered and traded in the stock exchange are called listed securities; A company whose securities can be listed and traded on a stock exchange is called a listed company. Another form is over-the-counter trading, that is, buying and selling securities that are publicly issued but do not meet the listing standards in the securities counter market.

Many joint-stock companies have issued shares, but not all companies can be listed or traded freely on the OTC market. If a stock wants to be listed or traded on the OTC market, it must be audited according to certain conditions and standards. Only those who meet the requirements can be listed or traded on the OTC market freely. If the conditions of listed stocks deteriorate and fail to meet the standards, the stock exchange may suspend its listing qualification.

Transaction characteristics

1, securities trading is a special kind of securities transfer.

Securities transfer refers to the behavior of securities holders to transfer the ownership of securities to other investors according to the transfer intention and legal procedures, and its basic form is securities trading. In a broad sense, securities transfer also includes the act of transferring all or part of securities rights to others or setting up securities pledge according to specific legal facts. The so-called transfer according to specific legal facts includes the transfer of securities rights due to gift, inheritance and merger of holders; The so-called pledge is the act of taking securities as debt guarantee in accordance with the provisions of the guarantee law. According to the provisions of Article 30 of the Securities Law, securities trading mainly refers to buying and selling securities, that is, the transfer behavior according to the meaning of transferring securities rights.

2. Securities trading is the basic form to reflect the liquidity of securities.

Liquidity is the basis to ensure that securities become basic financing tools. After the issuance of securities, securities become investors' investment objects and investment tools, which endows securities with liquidity and makes it convenient for securities investors to enter or exit the securities market. The liquidity of different securities is different. The shares issued and listed by a joint-stock company according to law can be freely transferred according to the trading rules stipulated by the stock exchange, and the shares held by promoters and other senior managers of the company cannot be transferred within the statutory time limit, which affects the liquidity of state shares and legal person shares.

3. The transfer of securities must be completed with the help of the stock exchange.

A stock exchange is a legally established place for securities trading, including a stock exchange for centralized trading and an intangible trading place for completing transactions according to agreements. The former, such as the internationally famous new york Stock Exchange, London Stock Exchange and Frankfurt Stock Exchange, and the Shanghai Stock Exchange and Shenzhen Stock Exchange in China also belong to centralized trading places. The latter, such as NASTAQ in the United States and over-the-counter trading places in various countries, mainly include the original domestic STAQ and NET trading systems.