Since Hong Kong's share always get the high appraisement of international investor and organization deeply. Besides having the market mechanism of well developed, the financial legislation of Hong Kong is also perfected very much. What investor enjoys in the stock market of Hong Kong is safe and reasonable investment returns. And since Hong Kong returns to , afterwards, the more close economic relation of inland and the region of Hong Kong and financial cooperative the stock market that makes Hong Kong are paid attention to more by world. Nearly have international investment organization participate in the stock market of Hong Kong. The investment transmigration in a ship Ship Yi in, Hong Kong's share the profit brought investor had been affirmed actively.
A financial market
( one) , the financial market of
First, the advantage on financial
Secondly, in legislative aspect, the
Again, it is trusted that in the aspect of risk control, the various supervisor managements of Hong Kong always let the investor of whole world firm. In various trades, only trade business is besides bank , there is the superintendency of third party additionally, the fund of guaranteeing to have investor is safe.
Most important is the profit of the financial market of Hong Kong, this makes global investor for Hong Kong finance the most important reason of market favor. So, the financial market of investment Hong Kong manages money , is very good in choice to select.
( 2) the reason
1: Hong Kong is freely open financial center , attracts the investor of all parts of the world, it is little that the mature reason of securities market gets policy and artificial factor influence, pursuit worths investment theory.
2: In with Hong KongHShare priceAShare price,QDIIQualification and the Hong Kong's share
3: Subscribe- - -Hong Kong's shareIPORaise funds market, new share sells quantity is many, the policy of Hong Kong comparison the little investor in taking care, new share subscription is the lucky number to lead is high, and investor passes to manage company may get own reserves9The bank financing10HK$ 10100The subscription10%Being
4: Trade kind is2000,( only Chinese200Many right certificates)-Conclude quantityETFFund, trail index,
5: In boundary, the direct investment market of Hong Kong relaxes restrictions further, policy goes up , the resident in boundary individual already may participate in investing in external capital market together with the investor in qualified boundary, in boundary, fund flows to Hong Kong more, the Hong Kong's site necessity of the stock market is poured into because of fund and is valuedAnd right now in port before the share vehicle of straight line does not formally start , early stage enters the market of Hong Kong, grasp to march into the arena opportunity, when the vehicle of straight line opens , fund big act enters , when early stage marches into the arena low cost builds storehouse at the same time, will surely enjoy when the river rises, the boat floats high to arouse the higher investment returns that share price rising brings. ( the continent fund impact of two each year's golden weeks, the strong support of being sufficient to have proved fund city for a wave another wave of Hong Kong's share quotations)
It is what
Compared with first the stock market1866In year, so far, it has had for more than 100 years. Hong Kong is small-sized open free economic system , possesses all-around financial service system , at the same time has the highly strict superintendency legal system of standard, in obvious winner has protected masses of investor efficiently in other markets and the rights and interests of little shareholder. Under the yearning of RMB further appreciation, fund is flowing continuously constantly into the stock market of Hong Kong.It isHShareACompared with share,2007Commemorate2008The annual scene of BeijingHThe expected rising space of share is larger. Can unite via Hong Kong the company that delivers to approve to appear on the market , is some continent companies of very good human quality, the stock company of relative domestic the stock market, the coefficient of investment risk is more low.
< xml:namespace prefix=v ns="urn:schemas-microsoft-com:vml"/>< shapetype id=_x0000_t75 stroked=f filled=f path="m@4@5l@4@11@9@11@9@5xe" o:preferrelative=t o:spt=75 coordsize=21600,21600>< stroke joinstyle=miter>< stroke/>< formulas>< f eqn="if lineDrawn pixelLineWidth 0">< f/>< f eqn='sum @0 1 0'>< f/>< f eqn='sum 0 0 @1'>< f/>< f eqn='prod @2 1 2'>< f/>< f eqn="prod @3 21600 pixelWidth">< f/>< f eqn="prod @3 21600 pixelHeight">< f/>< f eqn='sum @0 0 1'>< f/>< f eqn='prod @6 1 2'>< f/>< f eqn="prod @7 21600 pixelWidth">< f/>< f eqn='sum @8 21600 0'>< f/>< f eqn="prod @7 21600 pixelHeight">< f/>< f eqn='sum @10 21600 0'>< f/>< formulas/>< path o:connecttype=rect gradientshapeok=t o:extrusionok=f>< path/>< lock aspectratio=t v:ext=edit>< lock/>< shapetype/>< shape id=_x0000_i1025 style="WIDTH: 3pt; HEIGHT: 5.25pt" alt type=#_x0000_t75>< imagedata o:href="http://image2.sina.com.cn/dy/deco/2006/0426/bb_li_01.gif" src="file:///C:\DOCUME~1\tf\LOCALS~1\Temp\msohtml1\01\clip_image001.gif">< imagedata/>< shape/>AndAShare The market
銆€銆€Hong Kong appears on theLegal superintendencyThe marketIPOFinancing the ability ofTrade kind isT+0, without rise, fallThere are many share immortalsThe more new more
Some rules
Compare according to total market value, Hu deep the stock market adds have exceeded Hong Kong once in near future, but compared with inland the stock market, the stock market of Hong Kong is administered in company , the aspects such as market superintendency are mature and standard. The beginning of Hong Kong of the stock market builds1866In year, so far, there has been the history of more than 100 years. Hong Kong is a free port , possesses world-wide most open free economic systems , can offer all-around whole world financial service , at the same time has the highly strict superintendency legal system of standard , can protect the rights and interests of various investors efficiently. At the same time, the back of Hong Kong leans inland , is under the background of Chinese economic continued high speed development , especially when in last few years the yearning of RMB further appreciation takes off , world-wide various funds flow continuously into the stock market of Hong Kong, Hong Kong's share no matter permanent raw index concludes horizontal this year still continued wound makes history is new and high. Downstairs, examination is as follows Hong Kong'sAShare銆€銆€1.The trade kind had by the stock market of Hong Kong does not set up rise to fall board restriction Hong Kong's share a trade the share price fluctuation range in day has not restricted from system. In Hong Kong's share history arising too big a plate of index more than one time to fluctuate considerably error at 1000 o'clock , range exceeds10%( if1997Annual Asian financial crisis duration), it is accustomed to seeing such things that the share price big rise that department burst news arouses on duty falls even more, nearly, it has rise every day to fall30% even more stock.0857.HK) such super5Month has also gone up because15%.
For, do not set
*The securities market of Hong Kong Gu empty *Since set up to stop to harm , stop win , investor
2.Hong Kong's share investment kind is rich( various right certificates and derive article, include share to point at futures , share finger option and stock option etc.) the market trade product of Hong Kong is relatively rich, have covered capital stock and bond , derive product every classification, Gu empty mechanism also perfects very much. Institutional investor can find with personal investor appearance the investment tool that matches. With near futureAThe site of the stock marketAShare is more rich , not only have company's publication accept share certificate, still having securities trader publication various accept share certificate , Bei exchange to accept share certificate as well as a basket Bei exchange certificate( a basket that contain the bond marked ), it even still has ox bear certificate.
*It is numerous to invest in kind, on the one hand , different trade type, being helpful to facilitate invest in profit, is biggest; On the other hand , different trade way, convenience goes on combination investment , scatter investment to reduce little investment risk. 3.Trading basically with10:00-12:30; Noon14:30-16:0, stock futures trading15Minute. What needs are noticed is that except Saturday Sunday, Hong Kong public holiday and inland difference, also cause the time of two places of Xiu city to be different. Besides, bad weather hangs the wind ball No. 8 as typhoon seasonal observatory exchange can be also temporary of Xiu city.
Hong Kong'sT+0Turn around to trade , can with the business of same day, and frequency does not get restriction. For place in may Gu the stock of empty name list( as large scale blue chips) after, may sell first more buy. HongT+2Delivering receipt andT+2); WhenT+2Before, customer can not draw Hong Kong's share trades for earnest money( Hong Kong's name son show trade) have no the restriction on policy, usually, each bond trip or bank bond business department offers financing business service , but normally, need to open special son show residence registration.
*T+0Turn around to trade , investor buies the same day
4.Trade cost and other cost. The trade0.25% but has minimum100First HKD) , government0.1%) , trade solicits cost(AShare after, increase
*For in short line operating type, lower trade cost may this kind of investor saves a lot of investment costs, should save part may appreciate and may draw continuously used in investment to be used in consumption.
ButAWhat share is different is100HKD); Hong Kong's share has no dividend tax, cash bonus need not deduct tax, but the dividend distribution of stock company, bank and the bond trip of stock trusteeship can also take few service charges pro rata. If investor plans to hold for a long time after purchasing stock, may also draw the stock of material object to avoid this cost( cash bonus the address of Hong Kong that stock company directly sends check to investor to register).
5.The message disclosure of stockAShare is different, now, Hong Kong's share quarterly report belongs to voluntary disclosure, the most of companies do not reveal quarterly report in view of company's tactful and commercial secret reason. Besides, andAWhat share is different< xml:namespace prefix=st1 ns="urn:schemas-microsoft-com:office:smarttags"/>< chsdate w:st=on year=2008 month=1 day=1 islunardate=False isrocdate=False>1Month1Day< chsdate/>-< chsdate w:st=on year=2008 month=12 day=31 islunardate=False isrocdate=False>12Month31Day< chsdate/>, the time that some companies announce
But for temporary messageAShare
What is different with inland is that Hong Kong's share usual need sends the etc. of the writing edition of message disclosure ( such as annual report , half a year newspaper and shareholder coherent letter ) to shareholder.
6.The financing of stock company is restricted basically by policy. Hong Kong's share again financing need to usually accord with basic condition and market( investor) accept can, have no restriction in the aspect of financing time interval and administrative procedures for examination and approval basically. Again the way of financing is also more, sell new share if matching ( is equivalent to domestic increase hair, usually, it is to match the investor that sells to to specify somewhat, more near domestic directional increase hair) , let share( to the shareholder who holds company's stock sell new stock, domestic weighs allotment of shares, in Hong Kong usually to manage prospect and financial situation, the company of not good, other lack financing means adopts , do not get market welcome) etc.. Raise fund use aspect also has no domesticAThe restriction
7.Stock face value, price and businessAShare unification1It is first.1Immortal(1Minute)1Angle1It is first( HKD, wait same10Share10Merger1Share) or
*Stock face value is low , has offered for investor, identical fund quantity may operate more stock business. At the same time share immortal( the stock which charges you minute ) when meet policy surface the condition that change or enterprise basic surface improves takes off , its rise of market value is great( operating share immortal, must establishment when make to do the foundation of enough investigation research go up, reduce risk with ).
Stock absolute1It is had thatAShare. This also reflects that
*Stock price has proved indirectly across that the stock market of Hong Kong does not have structuralness foam , is in the market of competitiveness, fairness and freeness after all , supply-demand relationship decides price. And should not excess because of mobility and raise nearly each stock price.
In the aspectAShare is different, share1Immortal a price, and it is1Immortal50Immortal does not wait. But, in recent years to strengthen to deliver, throw and raise the probability concluded , already in step by step as , expensive share receipt narrow business price difference, if remit , it is plentiful to control share(0005.HK) this kind of business0.5HKD receipt0.1HKD.
8.Hong Kong's share is open for various legal funds, foreign capital may free business Hong Kong's share Hong Kong's share is completely open market, if legal investor and legal fund, may invest in share port , and have not held proportion and time etc. restrictive stipulation.AShare now has strict restrictionQFIIMachine made
Compare
Hong
AShare
It is
T+0, in the same
T+1
Trade
Net goes up trade
It is
Stock
May overdraw, in
Have
Trade
Kind is rich, stock and permanent
Kind is more unitary,
Rise
Have no
Have
Gu empty
Stock, futures and option
Accept
Circulation
Free system market and
Market
New share
Securities1:9Financing volume
It is more low to
Style
High quality company is numerous,4.8%Above
High quality company has high
3, the market
1.Hong Kong's share is relatively mature stock market, overall estimate value horizontal near international mature the stock market. Hong Kong has obvious internationalization feature as the financial center of the Asia-Pacific region. The market company's administration and superintendency system of Hong Kong are perfected relatively, market participator is also mainly with institutional investor, what the stock market usually speculate is more definite and expected in, Hong Kong's shareHThe prices of Chinese asset such as share and red chips also keep close to international standard relatively, overall market compares reason, more emphasis value investment and long-term repayment. Therefore the stock market of Hong Kong overall estimate more value more horizontal more relative comparison is reasonable, every estimate value index to be close to mature world more the stock market.銆€銆€2.The participator of staple market of Hong Kong's share is institutional investor mainly. The fund receipts and payment of Hong Kong are very free, HKD is also the major currency that may be freely exchanged , U.S. dollar contacts the support of exchange rate HKD currency value will not be fluctuated considerably, market width is enough , the fluctuation range of the stock market is also greater, therefore Hong Kong's share has attracted plenty of international investments and speculative funds. At the same time, since the investor of Hong Kong's share many years are always institutional investors mainly, in which, again take dominant with international institutional investor. Bond business and the famous investment bank on world have nearly established regional headquarter or branch in Hong Kong , attend the bond publication of Hong Kong actively , Cheng sell and trade market, they are at the same time also that Hong Kong's share most has the one of investor of influence. Besides, the institutional investors such as a lot of international funds are also direct or participate in investing in the stock market of Hong Kong through international investment bank. According to relevant statistics and international investor trade quantity, take total trade quantity35%, and all trade quantity of institutional investor takes the 2/3 of total trade quantity more around. Personal investor( private investor) in the market of Hong Kong no matter quantity( usual years keep when hundred thousands of, with inlandAShare cannot on the銆€銆€3.It is greater to be influenced by the international fluctuation of the stock market. The Hong Kong's share tendency on tradition is influenced by American the stock market is biggest, at the same time, is also influenced on certain degree by British and European, Japanese etc. the stock markets. Hong Kong the core that appears on the market blue chips usually many adoptionsADR( America storesNYSE( the stock exchange of New York) market trade , at the same time still have partial blue chips when London exchange trade( the London Hong Kong's share claimed, in recent years its influence when weaken ), these practices have prolonged the trade period of key Hong Kong's share actually. Therefore investment Hong Kong's share has"After receiving city,"Saying. Usually American the stock銆€ 4.Hong Kong's share tendency is influenced increasingly by domestic policy and the domestic fluctuation of the stock market. In recent years, Hong Kong the China that appears on the market concept share is more and more, along with many profession tap company as China Mobile, Chinese petroleum and Chinese petrochemical industry ,"6 lines"( in , build , work , in deliver andHThe total market values50%, Hong Kong's share already increasing China melts , finance melts. Since this kind of company's business is in mainland China basically , therefore, Hong Kong's share gets inland macroeconomics tendency , government policy and evenAThe influence of the site tendency of the
*The special relation of Hong Kong and continent as well as access to overseas market as continent enter Haikou, central government is also the another important guarantee of the market healthy development of Hong Kong.銆€銆€*Since thisQDIIPolicy implementation2008In year, Beijing Olympic Games is closeHShare and the liter
5.International fund flow direction for port share tendency influence huge say as former writing, Hong Kong is a freely Hong Kong's, fund freedom of receipts and payment, and in the market short period of Hong Kong, international fund floating quantity is very huge, especially international financial market occurs major fluctuation. The heavy goodses such as petroleum and noble metal and the violent fluctuations of market such as foreign exchange( include Yen arbitrage trade) may cause international fund flow direction to occur major change in short period , so make Hong Kong's share tendency produce to fluctuate considerably. *Using the convenientance of present information, grind in time according to the international news of current events to sentence the international change of economic atmosphere ( the message that international situation often changes wants to learn more early by investor than domestic some company's internal newses, after all, company's inside has more to conceal sex. ), adjust account in advance , reduce risk , increase profit.4 and HongAbove is to hope to be able to have some understandings of generality for Hong Kong's share through these investors for the introduction of some knowledges of Hong Kong of the stock market. But investment Hong Kong's share has certain risk still for inland investor. When this reminds beginning specially to enter a port investor the following of share:銆€銆€1.HongAShare is not the same, no matter investment theoryAThe habit practice of share goes
*When inflation and asset shrink pressure take off, wealth holds person to emphasize investment more manage money. Right now, it is capable that how to select the fact of how healthy market is that one cannot evade of a maturation, activism and standard in which grow up and ripen in such a market, is most important. Thus investment theory and method that selects a internationalization market and studies and utilizes more scientifically may just gallop at will in investment field.銆€銆€2.Even if business stock does not participate in futures and derive the investment of product, should also derive product and some share price fluctuations that trade tactic( if Gu leave empty , arbitrage) cause specially and special risk for Hong Kong's share to know. For instance, permanent raw index composition share may get share to point at the influence of futures due settlement , have published plenty of Bei exchange the blue chips of certificate( Hong Kong name den ship) possibility discrepant frequently fluctuation.
*Therefore in, Hong Kong's share investment market short line speculative operation at the same time, " value investment" is well received more. In is taking company's value and profitability as foundation long term value investment is the style of the most of market organizations and individuals.銆€銆€3.Avoid as far as possible to invest in the 3 or 4 line share and immortal share that not known. Some rubbish shares seem that share price is very low, is seemingly declining space is not large, and there is often considerable amplitude, but the stock market of Hong Kong is may"Join", usually merge can accompany the bad news of company fall if for share, causing continuity. Besides, a few of bad big shareholders have intentionally fried low share price , let share draw water to harm the condition of little investor constantly.銆€銆€4.Though,ST,*STShare, but manyAShareTClan risk is larger,
*In the Hong Kong's site of the stock market, "銆€銆€5.Need to pay attention to study the research of the big trip of foreign capital to report and grade , as well as pay attention to the fund flow direction of foreign capital. Business share port( includeHShare and red chips)銆€銆€6.Need not worry about1997Asian financial crisis"Officer"), the government of Hong Kong will not enact
没有评论:
发表评论