there are 16 kinds of index * * * compiled by Shanghai Stock Exchange

1. Four kinds of sample index

1. CSI 3

2. SSE 18

3. SSE 5

4. Dividend index

2. Comprehensive index 2

1. There are 7 categories of classified indexes

1.A-share index

2.B-share index

3. Industrial index

4. Commercial index

5. Real estate index

6. Public index

7. Comprehensive index

4. Other index categories 3

1. Fund 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 changes in the prices of listed stocks in Shanghai Stock Exchange. It was officially released on July 15th, 1991.

The full name of 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 compiled the Shanghai Stock Exchange and released it publicly on July 15th, 1991. The Shanghai Stock Exchange's withdrawal number is in "points" and the base date is December 19th, 199. The base date is set at 1 points.

With the continuous development of Shanghai stock market, on February 21st, 1992, Shanghai A-share index and Shanghai B-share index were added to reflect the respective trends of different stocks (A-share and B-share). On June 1, 1993, the Shanghai Stock Exchange's classified indexes 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.

At this point, 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 comprehensive stock price index with the number of shares issued in the reporting period as the weight calculated by the licensing formula.

reporting period index = (total market value of sampling stocks in the reporting period/total market value of sampling stocks on the base day) ×1

total market value = ∑ (market value × number of shares issued)

Among them, the total market value of sampling stocks on the base day is also called divisor.

3. 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 the sampled stocks before correction/the original divisor = the total market value of the sampled stocks after correction/the 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 case of any of the following circumstances:

(1) listing of new shares;

(2) stock delisting;

(3) changes in the amount of share capital (share offering, allotment, capital reduction, etc.);

(4) Stock withdrawal (not included in the index for the time being), stock resumption (re-included in the index)

(5) Exchange rate changes

IPO: IPO is included in the index on the second day of listing, that is, it is not included in the index on the same day, but the index is revised after the close of the day. The correction method is:

current market value/original divisor = current market value+number of new shares issued × current closing price/corrected divisor

ex-dividend: the index is corrected before the opening of ex-dividend trading day:

previous market value/original divisor = [previous market value+number of ex-dividend shares issued × (ex-dividend quotation-previous closing price).

reinstatement: it will be included in the calculation range of the index from the 11th trading day after the allotment part of the revoked shares is listed and circulated.

4. Release of index

At present, the Shanghai Stock Exchange index is calculated one by one in real time, that is, every time there is a new transaction, the index is recalculated, in which the calculated price (X) of the sampled shares is determined according to the following principles:

(1) If there is no transaction on that day, X= the closing price of the previous day

(2) If there is a transaction on that day, X= the latest transaction price <

what does the Shanghai composite index mean?

calculation of Shanghai stock exchange index series

Shanghai stock exchange index series are all based on "points".

base date, base period and base period index

base period is also called divisor

SSE 18 index is a continuation of SSE 3 index officially released on July 1, 1996, and its base point is the closing index of SSE 3 index on June 28, 22, which was officially released on July 1, 22.

the base date of SSE 5 index is December 31st, 23, and the adjusted market value of 5 constituent stocks on that date is the base period, and the base period index is set at 1 points, which has been officially released since January 2nd, 24.

the base date of Shanghai stock exchange dividend index is December 31st, 24, and the adjusted market value of all sample stocks on that date is the base period. The base period index is set at 1, points, and it has been officially released since January 4th, 25.

The base date of the Shanghai Composite Index is December 19th, 199, and the base period is the total market value of all stocks on that date. The base period index is set at 1 points, and it has been officially released since July 15th, 1991.

The new Shanghai Composite Index is based on December 3, 25, with the total market value of all sample stocks on that date as the base period, with a basis point of 1, points, which was officially released on the first trading day of 26.

The A-share index of Shanghai Stock Exchange is based on December 19th, 199 and the total market value of all A-shares on that day. The base index is set at 1 points, which was officially released on February 21st, 1992.

The B-share index of Shanghai Stock Exchange is based on February 21st, 1992, with the total market value of all B-shares on that day as the base period, and the base period index is set at 1 points, which has been officially released since August 17th, 1992.

The base date of the sub-index is April 3th, 1993, and the base period is the total market value of all stocks in the corresponding industry category on that date. The base period index is uniformly set at 1358.78 points (the closing value of the Shanghai Composite Index on April 3th, 1993), which has been officially released since June 1st, 1993.

The Shanghai Stock Exchange Fund Index is based on May 8, 2 and the total market value of all securities investment funds on that date, with a base date of 1, points, which was officially released on June 9, 2.

2. Calculation formula

The Shanghai Composite Index Series adopts the licensed weighted comprehensive price index formula

The Shanghai Composite Index 18

The Shanghai Composite Index is weighted by the adjusted share capital of the constituent stocks, and the calculation formula is:

Index in the reporting period = adjusted market value of the constituent stocks in the reporting period/adjusted market value of the constituent stocks on the base date × 1

, where According to the international practice and the opinions of the expert committee, the grading methods of Shanghai Stock Exchange component index are shown in the following table. For example, if the proportion of tradable shares (circulating share capital/total share capital) of a stock is 7% and less than 1%, the circulating share capital is used as the weight; The proportion of a stock in circulation is 35%, which falls within the interval (3, 4), and the corresponding weighted proportion is 4%, so 4% of the total share capital is taken as the weight.

the circulation ratio (%) ≤ 1 (1,2) (2,3) (3,4) (4,5) (5,6) (6,7) (7,8) > 8

weighted proportion (%) circulation proportion 2 3 4 5 6 7 8 1

SSE 5 index

SSE 5 index adopts the permitted weighting method, and is weighted according to the adjusted share capital of sample shares. The calculation formula is:

reporting period index = adjusted market value of constituent stocks in the reporting period/base period× 1

, where adjusted market value = ∑ (market price× number of adjusted stocks). Adjust the number of share capital Adjust the share capital of constituent stocks by grading and filing. The grading method of SSE 5 index is shown in the following table:

circulation ratio (%) ≤ 1 (1,2] (2,3) (3,4) (4,5) (5,6) (6,7) (7,8) > 8

weighted proportion (%) circulation proportion 2 3 4 5 6 7 8 1