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The basic concepts of stock terms

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					The basic concepts of stock terms
The basic concepts of stock terms (2008-07-05 13:12:56)
Stock Category: Equity Fund investment knowledge

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Stock
Certificate issued by a company the shares held by shareholders of a
certificate.

Stock limited liability company
Total capital divided into equal shares, the shareholders holding
shares in its limited, limited liability company. Companies with total
assets of the limited liability company's debts.

?Stock Code
Shanghai A share trading starts with the code is 600 or 601



Shenzhen A share trading starts with the code is 000



Shanghai IPO subscription starts with the code is 730
Shenzhen purchase of new shares code with the same code Shenzhen Stock
Trading

Allotment code 700 Shanghai to begin with, beginning with Shenzhen to
080




Unit Price
A minimum change in stock price reporting unit is 0.01 yuan. If: You
want to buy deep development, the price of a single fill: 10.02 yuan,
and can not fill 10.002 yuan. B shares declared value of 0.001 units
of the smallest change in U.S. dollars (Shanghai)

Price Limits
The highest daily price rose (or fell) to 10% of the previous day's
closing price range
ST shares ranges from 5% Change
IPOs with price limits: the day of IPO issue price cap price increases
¡Á (1 +1000%), lower limit of the issue price ¡Á (1-50%). But the next
day price limits will have to follow the rules.

IPO price provisions: IPO price of commission that day, we should
observe some rules. Provisions, such as Shenzhen: new shares listed on
the first day of its issue price call auction range of 150 yuan,
continuous auction is the latest range of the effective bid price 15.
Shanghai shares on the first day of the continuous auction market
range of the effective bid price was 10%.

Hand
Hand is 100 shares. Stock trading in principle, should be the primary
as an integer multiple of
However, due to lack of placement will occur in the "hand"
situation, such as 10 get 3 shares, you have 100 shares into 130
shares, then you can sell 130 shares. That is, less than zero stock
"hand" can be sold.

Now in hand
Is then the number of lots traded

T +1
T is in English Trade (meaning trade) the first letter. Currently
under the Shanghai and Shenzhen, the day the next day to buy stocks
only to sell, and sell the stock the day after the transaction is
recognized, the same day to return the funds to buy stocks.

Call auction
(Opening how to generate) a day before the start of trading, namely:
9:15 assigned to 9:25, the Shanghai and Shenzhen Stock Exchange,
investors began to accept buy and sell orders effectively, in 9:30 the
official opening of the moment, the Shanghai and Shenzhen Stock
Exchange's computer system starts to match the transaction, to the
maximum volume of each stock price to determine the opening price of
each stock. No call auction opening afternoon. Range of call auction
does not apply: subscription of new shares, rights issue, bonds.

Continuous auction call auction
Produced a major opening call auction, continuous trading and then the
stock market to stage, so there is a continuous auction. There is no
closing call auction trading orders continue to be effective,
automatically waiting for the right price continuous auction
transactions. And investors across the country at this time is still
continuous trading of all kinds of effective instruction input to the
Shanghai and Shenzhen Stock Exchange computer, the Shanghai and
Shenzhen Stock Exchange computer system will also continuously across
a variety of continuous and effective investors continuous auction
trading instructions brokered transactions.

Fill placement

Is filling a "buy" or "sell." Some people say,
placing my money to buy, of course, fill in a "buy" the.
This placement is in deep city, and fill in a "buy."
Placement in Shanghai, it should be filled "sell." This
"sell" not "sell" allotment, but "sell"
with options to get allotment.

Issuance of new shares of the requirements are: application for listed
companies issuing new shares, in addition shall comply with the
"Administrative Measures for Listed Companies IPO"
provisions, should also be consistent with a recent three fiscal year
average return on net assets weighted average of not less than 10%,
and the recent a fiscal year, weighted average return on net assets of
not less than 10% of the other conditions

See more: the expected stock price rise, optimistic about the
prospects for long stock investors.

Look empty: the expected stock price fell short outlook bearish stock
market investors.

To see Ping: expected stock price up not down, wait and see stock
market investors



Diving: metaphor stock prices

Deer
Refers to the stock market speculation atmosphere. As speculators,
like deer, frequently short-term speculation, see Lee and ran.

Tiaokonggaokai: refers to the opening price than yesterday's highest
price of the phenomenon.
Tiaokongdikai: refers to the opening price than the lowest price
phenomenon yesterday.
Upward gap: refers to the opening price than opening price yesterday,
the highest price or lowest price of the room below the price
yesterday.

Jin Cha
(Gold Cross) in technical analysis terms. Refers to the short-term
moving average line up through the mid-term or short-term moving
average, medium-term moving average line while the long-term moving
average line up through the movement of graphics.

Handicap: specific to individual stocks to buy and sell gear 5 of the
transaction information.

Buy Board Lot:
Enter the Stock Exchange, the host computer to buy a stock like hand
the number of the commission. Sales are now computer display terminals
buyers Commission file number five, behind the General Committee of
the number of buyers, investors can not see. If investors see buying
the current one, two, three, four, five, is revealed in different
price want to buy lots of stock.

Commission ratio
The number of buyers through the commissioning and appointment of the
difference between the number of lots sold and the number of buyers
and the Committee appointed to sell and hand the ratio of the number
of calculations, reveal the current trend of trading commission
Price priority and time priority:
Stock trading, if trading of a stock at the same time many investors,
you must follow the "price priority and time priority" rule
to do.



?Primary market (issuance market):
Stock in the recruitment phase, is issued, the market can not be
traded.

Secondary market (liquid market):
Issuance of shares after the company's shares listed on the market can
be traded.

Stock Index
Generally used to reflect changes in the macro side, and the trend of
the stock market itself. The preparation of its principle is: the
market value and the base price on the date of stock market value
ratio. Such as: stock index base date set at December 19, 1990. Today,
real-time index = index of the previous day closing market value ¡Â ¡Á
¡²today¡³ total market value of the previous day. Such as: 17 February
2003 the total market value of 4.898871 trillion yuan Shanghai Stock
Exchange, the index was 1496.52 points. February 18, the total market
value of 4.899142 trillion yuan Shanghai. Calculated that: 18 index =
1496.52 ¡Á ¡²¡³ = 48991.42 ¡Â 48988.71 1496.60 points. 18 February 17
February rise more than 0.08 points

Component Index
Shenzhen Stock Exchange on January 3, 1995, and began to compile The
Shenzhen Component Index on February 20 the same year, real-time
released. Component index is due to the preparation of the stock
market in China 2 / 3 of the share capital does not flow, so the
composite index reflects the changes in the stock market is not
science, and composition as the base index is compiled outstanding
shares, have a certain rationality. Namely: "Who the flow
Calculation of who."

PE = Price / EPS

Reflect a company's share price and its profit after tax per share
relationship, the calculation formula is the company's stock closing
price per share after-tax profit of the company (EPS) ratio. Such as
the North Group (600705) closing price of the end of 2002 was 6.20
million, earnings per share of stock in 2002 0.165 million, so the end
of 2002 the stock trades at 37.58 times (6.20 ¡Â 0.165). As stock
prices change every day, but only once a year earnings per share.
Coupled with the problem of non-tradable shares, the stock market with
price-earnings ratio as the sole measure of the standard is
unscientific. In addition, the loss of stock price-earnings ratio is
not calculated.

Book value = stock price / value per share (more important)
Net value of the capital stock fund, capital Community Chest, the
statutory reserve fund, any fund, retained earnings and other projects
together, also known as net assets. With a net worth divided by the
total share capital, have come to the net per share. Net book value
per share is calculated based (price-earnings ratio using earnings per
share), that is, the date of the closing price divided by book value
per share is equal to the net. Such as the North Group (600 705) the
end of 2002 closing price of 6.20 yuan in 2002, net 2.725 yuan per
share, while book value is 2.275 times.

Custody transfer
For investors buying and selling stocks for a sales department, will
have to apply for shares custody transfer procedures. Program (from A
to B Sales Sales) is:

1. The transferee (B Sales) account, and write down the name of the
business department and the B seat number.

2. In the transferor (a sales department) fill out the "care
Gatling application form."

3. The next day, to B sales department to see whether the stock.

4. Shanghai business department needs to withdraw in a specified
transaction, in the B Division to re-apply for the specified business
transactions.

Dividend and the ex: (XD, XR, DR):
Ex English is EXCLUDE DIVIDEND, referred to as XD. Ex English is
EXCLUDE RIGHT, referred to as the XR. If they ex-dividend and
ex-dividend, the English referred to as DR.
If a stock goes ex-dividend today, in the name of the stock marked
before XD; If a stock ex-dividend today, the name will be marked
before the stock XR; if a stock goes ex-dividend and ex-dividend today
and, in the name of the stock before the marked DR.

N before the stock implications:
NEW N is the first in English letters. When the first day of listing
of new shares, for the sake of distinction, the name of the new shares
added before N.

Annual earnings per share:
Refers to the number of annual earnings divided by the total share
capital (including legal person shares, tradable shares and
non-tradable shares)

Blue chips:
Refers to the more long-term stable growth, a large, traditional
industrial shares and financial stocks. Of these listed companies have
excellent performance characteristics, income stability, equity scale,
generous bonuses, stock prices stable, the market image of the good.



In the overseas stock markets, investors those in their respective
dominant industry occupies an important position, excellent
performance, were active, generous dividends as blue chip stocks of
large companies. "Blue chip" comes from the West casino.
Casino in the West, there are two kinds of color chips, the most
valuable of which the blue chips, red chips, followed by the worst of
white chips. These jargon investors apply to the stock. General
Motors, Exxon and DuPont Chemical Company and other stocks, are
"blue chip."

Blue chips are not fixed. With changes in business conditions and
economic status rise and fall, blue chips will change the ranking.
According to well-known U.S. "Forbes" magazine, in 1917 the
100 largest companies, only 43 blue chip stocks are still the list,
and had "the most blue", the industry's most booming
railroad stocks, and now completely lost the qualifications of the
selected blue chips and strength.

In Hong Kong stock market, was undoubtedly the most famous blue-chip,
one of the world's largest commercial bank, "HSBC Holdings."
A Chinese-owned background, "Cheung Kong" and the background
information, "CITIC Pacific" and is also a blue chip list.
Although China's stock market a relatively short history, but
developed very rapidly, but also the gradual emergence of a number of
blue chips.

We ordinary people (do not hold foreign currency or foreign currency)
can only buy A shares, B shares are traded in U.S. dollars

Hang Seng Index (Hang Seng Index)

Hang Seng Index, also known as "HSI" is based on
thirty-three stocks (ie blue chips) out of the market value of these
stocks cover more than the Hong Kong stock market Qicheng. Because of
its large coverage, the rise and fall of the constituent stocks of the
remaining shares will also have a great impact on the trend, so the
market used to predict the Hang Seng index of overall market trend.

Hang Seng Index was founded in November 24, 1969, compiled by the Hang
Seng Index Services, modify and release. The Hang Seng index is based
on July 31, 1964 as the base date and the date the index is set at
100. Point change in the Hang Seng Index is calculated using the
weighted average market capitalization.

Usually means talking about the Dow Jones index Dow Jones Industrial
Average index, which is a typical strong, wide range of applications,
the role of prominent stock index. 30 Dow Jones Industrial Average
index on May 26, 1896 available,

Commission ratio:
Certain period of time is a measure of the relative strength index
orders. It is calculated as the Committee ratio = (number of buyers
Committee - Committee of the number of lots sold) / number of
commissioned + commissioned buyers to sell lots ¡Á 100%. Commission
than the "values range from -100% to +100%. If the"
Commission than "positive, indicating strong buying venue, and
the greater the value, the more strong buying. On the contrary, if
the" Committee than " is negative, then the market is weak.

Committee difference:
Buy a variety of current and subtracting the amount of volume and
sales. Reflect the balance of power between buyers and sellers. Strong
positive for the buyer, negative for the heavy selling pressure.
Ratio:
Is a measure of the relative volume of the index, which is the average
per minute after the market opened trading volume over the past 5
trading days average trading volume per minute ratio. The formula is:
total turnover of hand than = now / (last 5 minutes of trading volume
per day ¡Á total opening time (minutes))
When the ratio is greater than 1, indicating that the average trading
volume per minute, the day is greater than the average for the past 5
days, trading popular than in the past 5; and when the ratio is less
than 1, indicating that the transaction is now smaller than in the
past 5 average.

Open:
Refers to the day after opening the first deal of the stock
transaction prices. If within 30 minutes after the market opened was
no price, places the day before yesterday's closing price as the
opening price.

Closing price:
Refers to the daily turnover in the final price of a stock, that is,
closing price.

High:
The date of the transaction is the highest price in the price.
Sometimes only a maximum price, and sometimes more than a sum.

Low:
Refers to the date of the transaction price of the lowest price.
Sometimes only a minimum price, sometimes more than a sum.

Ordinary shares:

Means ordinary shares in the company's management and the distribution
of profits and property rights to enjoy ordinary shares, paid on
behalf of all creditors to meet requirements and preferred
shareholders the right to claim the benefits of corporate profits and
the request for surplus property claims, It forms the basis of capital
is a basic form of stock, but also the largest circulation, the most
important stocks. Currently in Shanghai and Shenzhen Stock Exchange in
the trading of stocks, are sufficient common stock. Holders of common
stock shares held by the proportion of their basic right to enjoy the
following:
(1) The company's decision to participate. Ordinary shareholders
entitled to participate in general meetings, and suggested the right
to vote and to vote, or commission others to exercise their
shareholder rights on behalf of.
(2) profit distribution rights. Ordinary shareholders are entitled to
the distribution of profits from the company to get dividends. Common
stock dividend is not fixed by the company and its profit distribution
policy decisions. Ordinary shareholders must be made in the fixed
dividend preference shareholders are entitled to dividends only after
the right.
(3) stock options. If the company needs to expand the issuance of
common stock, the existing common stock shareholders are entitled to
their stake to below the market price of a particular priority to buy
a certain number of newly issued shares, thus maintaining its original
ownership of enterprises proportional.
(4) the right of the remaining asset allocation. When a company
bankruptcy or liquidation, if the company's assets to repay debts to
spare, the remainder by the first preferred shareholders, common
shareholders after the distribution of the order.

Preference:
Is relative to the common shares of. Mainly refers to the
profit-sharing and distribution of surplus property rights, take
precedence over common stock.
There are two rights of preference:
a. distribution of earnings in the company, the shareholders have
priority over holders of common stock of shares, distribution first,
and enjoy a fixed amount of the dividend, that dividend yield of
preferred shares are fixed, common stock dividend is not fixed , as
the case may be, corporate profits, interest a lot of points, little
points profit, non-profit, regardless, does not cap and give no
guarantee.
b. the dissolution of the company, distribution of surplus property,
before the allocation of preferred shares in common stock.

Blue chip stocks:
Are those that excellent performance, but slower growth company's
stock. These companies have the strength to resist the economic
downturn, but these companies do not give you exciting profits.
Because such business is more mature, do not need to spend a lot of
money to expand their business, so invest in such companies, the goal
is to get dividends. Also, invest in such stocks, the price-earnings
ratio not too high, keeping in mind the economic downturn in the
history of stock price fluctuations when the records.

Hot stock:
Refers to the trading volume, liquidity strong, significant reduction
in the stock price changes.

Growth stock:
This is the number of shares issued by companies, their sales and
profits continued to grow, and its faster than the entire country and
the growth of the industry. These companies usually have grand Wineur,
focusing on research, leaving a lot of profit for reinvestment in
order to facilitate its expansion.

Hand:
It is internationally accepted calculation of Trading Volume of the
unit. Must be a multiple of the hand to handle the transactions. It is
generally 100 shares traded hand. The purchase of shares must be
purchased at least 100 shares.

Volume:
The number reflects the number of transactions. General Trading Volume
and turnover can be measured by two indicators. Shenzhen and Shanghai
stock market can present two indicators displayed

Price:
Refers to the outcry of the lifting units. With the stock price high
and low market price per share varies. The Shanghai Stock Exchange as
an example: over the end price of 100 yuan per share price is 0.10
yuan, 100-200 yuan per share price of 0.20 yuan per share market price
is the price is 0.30 RMB 200-300 yuan, 300-400 yuan per share market
price market price is 0.50 yuan per share price is 400 yuan more than
1.00

Suspension:
The stock for some news or some sort of activity caused by the
continuous price rise or fall, the stock exchange suspended trading in
the stock market. Clarify or business when the situation returned to
normal, then resume trading exchange-listed securities.

Change:
Each day's closing price the previous day's closing price comparison
to determine the stock price is up or down. Parties in the transaction
stage general bulletin board number with "+""-"
said.

Up (down) circuit breakers:
Exchange as the stock of the day up (down) the most significant as a
percentage of the closing price the day before, can not exceed this
limit, or automatically stop trading.

Increased disk:
Is much higher closing price than the day before opening.

On the low disk:
Is the closing price the previous day opening many.

Disk file:
The investors do not actively traded, more on the sideline, so the day
stock price volatility is very small, a condition called disk file.

Order by:
After a period of sharp stock price is up or down, it begins to minor
fluctuations, changes into the stable phase, a phenomenon known as
consolidation, consolidation is a major change in the next stages of
preparation.

Gaps
Means a strong bullish or bearish by the news, stock prices began to
significantly beat. Upward movements of share prices often start or
end there.

PE
Price-earnings ratio is a stock share price and earnings per share
ratio. (PE ratio = market price per common share Earnings per share
per year ¡Â ordinary shares) on the type of molecule is the current
market price per share, the denominator can be profitable last year,
is also available in the coming year or years forecast earnings.
Estimated price-earnings ratio is the most basic value of common
stock, one of the most important indicators. Generally believed that
the ratio remained at between 20-30 is normal, too small to explain
the share price, risk, worth buying; too much is that stock prices
high, risk, buy with caution. However, the high price-earnings ratio
stocks mostly hot stock, low price-earnings ratio stocks may be less
popular stocks.

Retreated:
Refers to the process of stock prices, rising too quickly due to the
phenomenon of temporarily fell back.

Rebound:
Refers to the stock market decline, the stock price fell too fast
because sometimes, being supported by the buyer pick-up phenomenon.
Magnitude smaller than the rebound rate of decline, the downward trend
resumed after the rebound.
Long:
Bullish on the stock market outlook, first buy a stock, such stock
price rose to a price, people who sell the stock make the difference.

Short:
Means that the share price has risen to the highest point, and soon
will fall, or when the stock started falling, that will continue to
fall, investors sold to take advantage of high prices.

Bull market:
Also known as the bull market, that is, stock prices generally rising
market.

Bear market:
Stock market showed a downward trend in long-term, bear market, the
stock was up a whopping changes. Also known as the bear market.

Multi-turn air:
Originally optimistic about the market's bull, views change, the hands
of the stock sold, sometimes by selling the stock, this behavior is
called the turn or turn an empty space.

Flip over:
For those who had short, to change their views, to repurchase the
stock sold, sometimes to buy more stock, this behavior is called the
flip and more.

Buy blank:
The expected stock price will rise, so buy the shares before the
actual delivery, and then sell the stock to buy, the actual delivery
charge difference or make up the difference when a speculation.

Short:
The expected stock price will fall, which sold shares in the event
before the actual delivery, will be shown with has added the stock to
sell, delivery, only to settle the difference of the speculation.

Price:
Individual stocks by the bull market to bear market when the highest
price.

Breakthrough:
Refers to the share price over a period of time after the disk file,
resulting in a price volatility.

Bottom:
Stock price continued to fall to a certain frustration when it turned
up, so once or several times.

Head:
Rose to a price decline when they encountered the resistance.

Hanging:
Means to buy the stock.

Hang out:
Means to sell stock

Kaiping plate:
That today's opening price and the previous business day's closing
price of the same.

Recent trends:
20 to 30 days for the recent trend.

Full delivery:
Is the securities authorities of restructuring the company or a major
issue of the shares of listed companies, particularly in the
development of the transaction settlement force method.

Whipsaw:
To achieve the purpose of hand-speculation, must be the way to cheap
to buy, and will not be strong passenger sedan Alighting to relieve
the pressure on the file, while the average price to increase holdings
in order to facilitate the implementation support, and sets the means
to kill.

Of the knock transfer:
One way transfer transaction. This is a securities broker a means of
earning investment returns. Buy by cheap stock brokers, and
commissions received from clients and then sold to another customer at
high prices, thus making a large profit



Bad:
Share prices fell on the favorable factors and short messages.

Lido:
Is to stimulate price increases, favorable factors for long, and news.

Hold-up:
Is the expected price rise, only to buy the stock price way down; or
the expected stock price down, sell the stock, the stock price way up,
said the former long hold-up, which is the short lock-in.

Large:
That large investors, such as consortia, trust and other funds with a
large group or individual.

In the household:
Refers to the large amount of investment investors.

Retail:
Is the small number of traded stocks of small investors.

Broker:
Execution of customer orders, the sale of securities, commodities or
other property, and those who charge a commission.

Grab short-term:
The expected stock price rose after the first buy low to sell high in
the short term. The expected stock price fell, sell high first, then
wait for an opportunity in the short term with low prices and then
buy.

Correction:
After a quick stock up or down, the encounter resistance or support
the changes were minor ups and downs, do hands finishing.

Pull lift:
Lift pull is very method to lift the stock substantially. Usually
after they have big pull in the big throws lift to profits.

Suppress:
Is very method, stock prices down significantly. Usually after they
have a lot of big buying in order to suppress take profits.

Dark horse:
Is the stock price in a certain period of time, double or multiple of
the stock prices

White Horse:
Refers to the share price has formed a slowly rose up the long
channel, there is still some upside.

Cheat line:
Large investors who use technical analysis superstition data, charts,
psychological, and deliberately lift pull, to suppress stock,
resulting in the formation of a certain linear technical charts,
luring investors to buy or sell a lot to achieve their objective of
large fortunes. The result of the deception of the technical chart
line called cheat line.
Technical Analysis:
To supply and demand based on market research and analysis of stocks.
Technical analysis studies price movements, trading volume, trading
trends and patterns and drawings that the above factors, with the
figure forecast the future behavior of the current market supply and
demand of securities and securities held by individuals effects may
occur.

Basic Analysis:
According to sales, assets, income, products or services, market
factors and management of the enterprise. Also refers to the
macro-political, economic, military dynamic analysis to predict their
impact on the stock market.

Non-listed stocks:
Not listed on the stock exchange up.

Power of Attorney:
Entrust others (other shareholders) on their own behalf in the
exercise of voting rights at general meetings of the written proof.

Turnover:
Total number of shares traded stocks listed on the circulation of the
percentage of stock shares.

Warrants:
Additional stock issue new shares when the company issued to former
shareholders of the company to purchase a certain amount of the
discounted price of the stock certificate. Warrants usually have time
constraints, outdated invalid. In the period that the holder can be
sold or transferred.

Ex:
Ex-rights closing price of the stock minus the previous day contained
the right to post, is the ex-dividend.
Dividend:
Previous day closing price minus the stock of listed companies paid
dividends as dividend.

Including the right to:
Those who have stock of both said the right to not Songpei with power.

Tianquan:
Diluted share increased to compensate ex post, as Tianquan.

Replenishment:
Business needs of listed companies often apply for the capital
increase (paid placement) of new capital increase or capital surplus
(stock dividends).

Placement:
The company issuing new shares, all of the shares by the shareholders
to special (below market) to the shareholders to subscribe.

Litters:
Predict stock price will rise, ahead of the crowd before the first buy
at low prices, to be follow-up of many individual investors, stock
prices increased steadily, the selling profit.

Sedan chair child:
Others had to buy after the wake, also followed buy, the result is to
allow others to raise the profit share, but their shares have not
bought cheap, unprofitable.

Under the chair:
Zuojiao rallies off the balance sheet profit for the next chair.

Resistance:
Rose to reach a price near the situation where a lot of selling that
stock prices stop rising, or even the price fell back.
Support line:
At a price fell to close the case if a large number of buying, so stop
falling stock prices or even rebound.

Gaps:
Bullish stock market are strong stimulation or bad news, the stock
took a significant jump in prices, the day of the opening or the
lowest, higher than the previous day's closing price of more than two
reporting units, referred to as "gapped up"; down, days of
the day below the disk or the highest price the previous day's closing
price of the two reporting units, and the day's trading, up or down
more than one reporting unit, referred to as "gapped down."

Fill in the blanks:
Means there will be upward air when the transaction price will not
make it up, that is, after the stock price upward, over a period of
time will return to the unprecedented price jumps to fill the gapped
price.
?
Rehabilitation in
The so-called right of recovery is right on the price and volume
information for repair, in accordance with the actual stock price
chart drawn Change and adjust the volume of equity for the same
caliber. Stock ex, ex-dividend, the shares resulting changes, but the
actual cost has not changed. Such as: the original 20 yuan of stock,
after ten get ten to 10 yuan, but the actual or the equivalent of 20
dollars. From the K point of the price chart looks very low, but it
may be a historical high.
For example, a stock of 5,000 million shares float caps ex-dividend
day, the price of 10 yuan, 500 million shares traded, turnover was
10%, and 10 after the ex-rights offer to send 10 to 5 yuan, float caps
to 1 million shares, ex-dividend date Tianquan out of the market, to
close at 5.5 yuan, up 10% on volume of 1,000 shares, turnover is 10%
(and the previous day compared with the same volume level.) Right
after re-price 11 yuan, compared with 10 yuan the previous day up 10%
on volume of 500 million shares, so that stock prices reflect the
price chart ups and downs, while volume also has a comparable before
and after the ex-dividend sex.
There are several ways that complex right?
The right to have the right to re-forward recovery and backward
recovery rights
To this chart is to keep the current prices remain unchanged, the
price of the previous reduction in the K line ex pan down before, so
graphics fit and maintain the continuity of stock prices.
Re right back, is to keep the price of the previous change, but will
later increase the price. The above example is used in complex back
right.
The most obvious difference between the two is that the right to
re-forward the current cycle of price quotations and K line shows
exactly the same, and the right to purchase most of the complex back
below the K line shows the price.
For example, a stock is the current price of 10 yuan, before that was
sent to 10 shares for every 10 shares, the former ex-rights price is
still after 10 yuan, which is 20 yuan.
Right before the complex: complex of the right price = [(right before
the price recovery - cash dividend) + with (new) stock price changes
in the proportion of outstanding shares ¡Á] ¡Â (1 + change in the
proportion of outstanding shares)
Right after the recovery: rehabilitation of the right to the right
before re-price = price ¡Á (1 + change in the proportion of shares
outstanding) - with (new) changes in share price ¡Á the proportion of
outstanding shares + cash bonus
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