Who can tell me about the common stock indexes in the world?

Common stock price index

The stock trading markets around the world are dotted around the world and have become representatives of the general capital market. The stock market prices

not only reflect the trends of the capital market. It is also an important reference for the national economic status. However, the number of stocks is as numerous as stars, and the price of each stock changes randomly. In order to record, measure, and analyze the context of the stock market, economists use mathematics as a tool to compile various stock price indexes to meet various needs. The stock price index is an important measure that reflects the overall level of stock price changes in the stock market. It is also the main basis for analyzing and predicting development trends and thus determining investment behavior.

When compiling a stock price index, the stock market conditions of some or all of the

listed companies at a certain time in the past (base period) are usually used as the standard reference value (100%) , a method of comparing the stock prices of some or all representative listed companies in the current period with standard reference values. In specific calculations, two methods are often used: arithmetic average and weighted average.

Arithmetic mean method: Add the prices of sampled stocks and divide them by the number of sampled stock types to calculate the average of stock prices

.

The formula is as follows:

The arithmetic mean of stock prices = (the sum of the stock prices per share of the sampled stocks) ÷ (the number of sampled stock types). Then, compare the calculated average with the same method Compare the average of the base period and calculate the percentage to get the stock price index of the current period, that is:

Stock price index = (arithmetic average of the stock price of the current period) ÷ (arithmetic average of the stock price of the base period) × 100 %

Weighted average method: The price of each stock sampled in the current period multiplied by the sum of the issued quantities in the current period is used as the numerator, and the price per share of the sampled stocks in the base period is multiplied by the issuance in the base period. The sum of the quantities is used as the denominator, and the resulting percentage

is the stock price index for the current period, that is:

Stock price index = [∑ (price of each sampled stock in the current period × issued quantity)] ÷

[∑ (Price of each sampled stock in the base period × number of issues issued)]×100%

The following are several common stock price indexes

Shanghai Stock Price Index

The Shanghai Stock Exchange Stock Price Index was originally compiled by the Jing'an Securities Business Department of the Trust and Investment Company of the Industrial and Commercial Bank of China Shanghai Branch based on

the actual situation of the Shanghai stock market and with reference to the generation methods of foreign stock price indicators. .

The Shanghai Composite Index uses December 19, 1990 as the base period and began to be announced on July 15, 1991.

The Shanghai Stock Exchange Stock Price Index is calculated based on all stocks in the Shanghai stock market. The calculation formula is as follows:

Stock Index = (Total stock market value on the day ÷Total stock market value in the base period) × 100

Since all stocks are used for calculation, the Shanghai Composite Index can more closely reflect the changes in Shanghai stock prices

.

Shenzhen Stock Price Index

The Shenzhen Stock Price Index is compiled by the Shenzhen Stock Exchange. It uses April 3, 1991 as the base period, all stocks listed and traded on the Shenzhen Stock Exchange as the calculation object, and multiplies the daily closing prices of various stocks by

The total market value obtained by summing the issuance volume is divided by the total market value in the base period and multiplied by 100 to obtain it. It is an effective statistical number reflecting the changes in Shenzhen's stock price.

New shares will be included in the calculation starting from the second day after they are listed in Shandong. When trading of a certain stock is suspended, it will be

excluded from the calculation.

When the quantity and structure of a certain stock change, the date of change is used as the new base period

for calculation, and the "chain" method is used to trace the calculated index back to the original base period to maintain the continuity of the index.

Sex. The "chain" retrospective calculation formula is as follows:

The current day's real-time index = the previous day's closing index × (the current day's real-time total market value ÷ the previous day's closing total market value)

In the formula, the current day's real-time total market value It is the sum of the market value of each component stock multiplied by the number of shares issued; the total market value at the previous day's closing

The market value is the total market value calculated based on the changes in the share capital of the constituent stocks or constituent stocks on the previous day.

Dow Jones Stock Price Average

Also known as the Dow Index, it is calculated using the unweighted arithmetic average method. The Dow Indexes include: the Dow Industrial Average, which is composed of an average of the stock prices of 30 industrial companies; the Dow Utility Average, which is composed of 15 public utilities. The company's stock price average is composed of; the Dow Transportation Average is composed of the average of the stock prices of 20 transportation companies; the Dow 65 stock price average is composed of the above-mentioned industrial, transportation, Utilities

A blend of stock prices for 65 companies in the public sector.

The Dow Jones Stock Price Average uses October 1, 1928 as the base period and is published every 30 minutes during trading hours on the New York Stock Exchange

, using the current stock price on that day. Calculated as the ratio of the arithmetic mean to the base period, it is the stock index most cited by Western news media.

Standard & Poor's Index

The Standard & Poor's Index was compiled and published by the American Standard & Poor's Company in 1923. At that time, it mainly compiled two indexes: one included 90 One is an index that stocks are published once a day, and the other is an index that includes 480 stocks that is published once a month. In 1957, it was expanded into the current index calculated by weighted average composite of 500 sampled stocks, and is published every half hour during market opening hours.

The S&P Index uses 1941-1943 as the base, using the price of each stock multiplied by the number of issues issued

The sum is the numerator, and the stock price in the base period multiplied by the stock issuance The sum of the quantities is expressed as a percentage divided by the denominator

. Since the index is calculated based on the prices of most common stocks listed on the New York Stock Exchange

, it can flexibly respond to price changes caused by subscriptions for new equity, dividends, and stock splits.

Adjustment, the index value is more accurate and has good continuity, so it is often

better representative than the Dow Jones Index.

Hang Seng Index

The Hang Seng Index is the oldest stock price index in the Hong Kong stock market. It was announced and used by the Hang Seng Bank of Hong Kong on November 24, 1969. .

The current Hang Seng Index is based on July 31, 1996, and is compiled based on weighted calculations of 33 representative stock prices in various industries listed in Hong Kong. . Because the total value of the stocks of these 33 companies accounts for more than 65% of the total value of all listed stocks in Hong Kong, the Hang Seng Index is currently the most authoritative and representative of the Hong Kong stock market. stock price index.

Nikkei Index

The Nikkei Stock Price Index is the stock price index of the Japanese stock market. It is calculated by dividing the sum of nearly 500 stock prices by a constant. Due to the special status of the Japanese economy in the world economy, the Nikkei Index

is increasingly valued by the world's financial markets.

Financial Times Index

The sampling stocks of the Financial Times Index are selected based on the stocks of the main 100 major

large companies listed on the London International Stock Exchange in the United Kingdom. , and updated every minute. The index is calculated using an arithmetic weighting method.