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The word "Hang Seng" means "eternal growth", which symbolizes the growth of Hang Seng, its customers and China and Hongkong.
Hang Seng Index Services Limited, a wholly-owned subsidiary of Hang Seng Bank, is responsible for compiling and managing the Hang Seng Index and a series of other stock market indexes:
As an important indicator of the local stock market, constituent stocks are divided into four categories: finance, public utilities, real estate and industry and commerce.
Select a domain.
The target of constituent stocks is companies listed on the main board of the Stock Exchange. China enterprises listed in Hongkong in the form of H shares will be considered to be included in the sustainable growth index if they meet one of the following conditions.
The share capital of H-share companies is listed on the Hong Kong Stock Exchange in the form of full H-shares; H-share company has completed the reform of non-tradable shares, and there is no unlisted share capital; Or the newly listed H-share company has no unlisted share capital.
choice criterion
Hengsheng refers to selecting several stocks through extensive external consultation and strict and thorough procedures. Any company must meet the following basic standards before it can be selected as a constituent stock:
It must be the first 90% of the total market value of all ordinary shares (except H shares) listed on the Stock Exchange (market value refers to the average value of the past 12 months); It must be the first 90% of the total turnover of all ordinary shares (except H shares) listed on the Stock Exchange (the total turnover in the past 24 months is divided into 8 quarters for self-evaluation); Or large stocks that have to be listed on the Stock Exchange for 24 months or less will be included in the index. Large-scale stocks listed for less than 24 months are quoted by HSI.
Large-scale stocks newly listed in the stock market should be listed according to the market value listed below and at least the relevant listing time: the average market value of large-scale stocks should be listed at least at the time of listing or at least in the last three months. After 15, 6 months, 16 months to 265,438+02 months, 2 1 month to 25,65,438+08 months, 25 months and 24 months, after selection, the final evaluation will be conducted if the lower one is selected.
Name of the company's market value and turnover; The proportion of different industries in the constant index can reflect the market distribution; And the company's financial situation. (1) Hang Seng Index, hang seng china enterprises index, Hang Seng China H-share Financial Industry Index and Hang Seng Liu Tong Index Series:
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The following shares are considered as strategic holdings and are not included in the index compilation: 1. Equity held by strategic shareholders-one or more strategic shareholders individually or collectively hold more than 30% of the shares; 2. Shareholding by directors-individual directors hold more than 5%; 3. Mutual control companies hold shares-the investment in a company in Xianggang exceeds 5% of the shares; Fourth. Equity held during the lock-up period-more than 5% equity held by one or more shareholders individually or jointly, which is subject to the lock-up period clause of the public offering. The adjustment of Liu Tong's market value is based on publicly available information, including the company's annual report and the records of securities disclosure interests provided by the Hong Kong Stock Exchange and Clearing House. Liquidity coefficient is the percentage of circulating shares to the total number of issued shares. The number of shares issued by each constituent stock will be adjusted according to the current coefficient before it is used to compile the index. The flow coefficient of the calculation index is increased to the nearest integer of 5%. Adjust the upper limit of proportion * review the constituent stocks regularly every six months, and adjust the upper limit of proportion when necessary, so that the proportion of a single constituent stock does not exceed 15% of each index.
* Since September 1 1 day, 2006, the calculation method of the constant index has been changed to calculate according to the current market value, and the specific weight of each share is limited to 15%. From September 2006 to September 2007, in order to minimize the impact on market productivity, the above variables were implemented step by step.
The upper limit of the proportion of constituent stocks should be set every six months, and the current flow coefficient should be adjusted regularly in the first quarter and the third quarter. The adjustment of the specific weight upper limit will also be carried out when the constituent stocks change.
Yoki Wang
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Hang Seng Index is an important indicator of stock market prices in China and Hongkong. The index is calculated by the market value of several constituent stocks (namely blue-chip stocks), representing 70% of the market value of all listed companies on the China-Hongkong Stock Exchange. The Hang Seng Index is calculated by Hang Seng Index Services Limited of Hang Seng Bank. ,