There is a picture in the picture.
Broadly speaking, there are four types of Shanghai Composite Index, 16, namely
I. Four sample indices
1 .CSI 300
2. SSE 180
3. SSE 50
4. Dividend index
Second, the comprehensive index class 2
1. Shanghai Composite Index
2. New comprehensive index
Three, seven kinds of classification indicators
1. Stock index
2.b-share index
3. Industrial index
4. Business index
5. Real estate index
6. Public index
7. Composite indicators
Four, the other three index categories
1. Fund index
2. Government bond index
3. Corporate bond index
In a narrow sense, it refers to the Shanghai Composite Index. Its sample stocks are all listed stocks, including A shares and B shares, which generally reflect the price changes of listed stocks in Shanghai Stock Exchange. July 199 15 was officially released.
1, "Shanghai Stock Exchange Composite Stock Index", also known as "Shanghai Stock Exchange Composite Stock Index", is a statistical index widely used at home and abroad to reflect the overall trend of Shanghai stock market.
The Shanghai Stock Exchange sorted out the Shanghai Stock Exchange and released it on July 199 1 day. The withdrawal of the Shanghai Stock Exchange is in "points" and the base date is 1990+February19. The benchmark date is 100.
With the continuous development of Shanghai stock market, Shanghai A-share index and Shanghai B-share index were added on February 2 1 and February 2 1992 to reflect the respective trends of different stocks (A-share and B-share). On June 1993 and 1 day, the Shanghai Stock Exchange's sub-indices were added, namely, industrial index, commercial index, real estate index, public utility index and comprehensive industry index, to reflect the respective trends of stocks in different industries.
So far, the Shanghai Stock Exchange Index has developed into a series of stock price indexes including comprehensive stock price index, A-share index, B-share index and sub-index.
2. Calculation formula
The Shanghai Composite Index is a weighted composite stock price index based on the number of shares issued during the reporting period and calculated by licensing formula.
Index of reporting period = (total market value of sampled stocks in reporting period/total market value of sampled stocks on benchmark date) × 100.
Total market value = ∑ (market price × number of shares issued)
Among them, the total market value of sampled stocks on the base date is also called divisor.
3, the correction method
When the total market value changes due to non-trading factors, the original fixed divisor is corrected by "divisor correction method" to maintain the continuity of the index. The correction formula is as follows:
The total market value of sample stocks before correction/original divisor = the total market value of sample stocks after correction/corrected divisor, so as to obtain the continuity after correction and calculate the future index accordingly.
When the stock pays dividends, the index will not be revised and let it fall naturally.
According to the actual situation of Shanghai stock market, it must be amended in any of the following circumstances:
( 1)IPO；
(2) delisting of stocks;
(3) Changes in the amount of share capital (allotment, allotment, capital reduction, etc.). );
(4) Equity withdrawal (not included in the index for the time being) and equity recovery (re-included in the index)
(5) Exchange rate changes
Listing of new shares: the new shares will be included in the index on the second day of listing, that is, they will not be included in the index on the same day, but the index will be revised after the close of the day. The correction method is as follows:
Total market value of the day/original divisor = total market value of the day+number of new shares issued × closing price of the day/revised divisor.
Ex-dividend: modify the index before the opening of ex-dividend trading day;
Total market value of the previous day/original divisor = [total market value of the previous day+number of ex-dividend shares issued × (ex-dividend quotation-closing price of the previous day)]/revised divisor
Withdrawal of rights: on the benchmark date of the transfer of shares except rights, the shares are excluded from the index sample shares;
Reinstatement: the revoked shares will be included in the index calculation from the eleventh trading day after listing and circulation.
4, the release of the index
At present, the Shanghai Composite Index is calculated in real time one by one, that is, the index is recalculated every time there is a new transaction, and the calculated sample stock price (X) is determined according to the following principles:
(1) If there is no transaction on that day, X= closing price of the previous day.
(2) If there is a transaction on that day, X= the latest transaction price.
The Shanghai Composite Index is widely released to domestic and foreign markets in various ways every day.
-
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.
-
Shanghai and Shenzhen 300
Namely the Shanghai and Shenzhen 300 Index.
The Shanghai and Shenzhen 300 Index is a constituent stock index compiled by selecting 300 A shares in Shanghai and Shenzhen stock markets as samples.
The sample of the Shanghai and Shenzhen 300 Index covers about 60% of the market value of the Shanghai and Shenzhen markets, which has a good market representation. The Shanghai and Shenzhen 300 Index is the first index jointly released by Shanghai and Shenzhen Stock Exchanges to reflect the overall trend of the A-share market. Its introduction enriches the existing index system of the market and adds an index to observe the market trend, which is beneficial for investors to fully grasp the market operation and further provides the basic conditions for the innovative development of index investment products.