There is a handling fee for buying and selling stocks, and the commission for buying and selling is determined by the brokers. Stamp duty: 3 ‰ (in 2008, stamp duty was reduced and unilaterally collected 1‰). In addition, for every 1000 shares, Shanghai will get 1 yuan transfer fees, and if it is less than 1 yuan, it will get 1 yuan. Shenzhen does not accept transfer fees. The handling fee in Shanghai is 5 yuan (calculated on a per-transaction basis), and there is no handling fee in Shenzhen.
Previous stamp duty adjustment:
1On June 28th, 990, Shenzhen Stock Exchange levied 6‰ stamp duty on the seller.
1990165438+1On October 23rd, Shenzhen imposed a stamp duty of 6‰ on the buyer.
In June 199 1, the Shenzhen stock market was adjusted to 3‰, and the Shanghai stock market began to levy 3‰ bilaterally.
On June 2nd 1992, stamp duty was paid at the rate of 3‰.
1997 May 12 was raised from 3‰ to 5‰.
1June 998 12, down from 5‰ to 4‰.
On June 1999, the stamp duty on B-share transactions was lowered to 3‰.
200 1, 1 1, 65438+6, adjusted from 4‰ to 2‰.
On October 23rd, 2005/kloc-0, 65438 was adjusted from 2‰ to 1 ‰.
On May 30th, 2007, it was adjusted from 1‰ to 3‰.
On April 24th, 2008, it was adjusted from 3‰ to 1‰.
On September 9, 2008 19, the unilateral tax rate was changed to 1‰.
Stock transaction costs usually include stamp duty, commission, transfer fees and other expenses.
Fee introduction
1. Stamp duty: Stamp duty is a tax levied on investors of buyers and sellers at the prescribed tax rate after the stock (including A shares and B shares) is traded according to the provisions of the national tax law. The payment of stamp duty shall be deducted by the securities operating institution in the delivery with investors, and then settled centrally in the clearing delivery between the securities operating institution and the stock exchange or the registration and settlement institution, and finally paid uniformly to the tax authorities by the registration and settlement institution. The charging standard is 4‰ of the A-share transaction amount, excluding funds and bonds.
2. Commission: Commission refers to the fees paid by investors to brokers according to a certain proportion of the transaction amount after the entrusted securities are closed. This fee is generally composed of brokerage commission of securities firms, transaction fee of stock exchanges and supervision fee of management institutions. The charging standard of commission is: (1) Shanghai Stock Exchange, and the commission of A shares is 3‰ of the transaction amount, starting from 5 yuan; The bond commission is 2‰ of the transaction amount (international, floating), starting from 5 yuan; The commission of the fund is 3‰ of the transaction amount, starting from 5 yuan; The commission of the securities investment fund is 2.5 ‰ of the transaction amount, starting from 5 yuan; The commission standards for the repurchase business are: 3 days, 7 days, 14 days, 28 days and above, and fluctuate according to the turnover below 0. 15‰, 0.25‰, 0.5‰, 1‰ and 1.5‰ respectively. (2) For Shenzhen Stock Exchange, the bond commission is 2‰ (upper limit) of the transaction amount, starting from 5 yuan; The commission of the fund is 3‰ of the transaction amount, starting from 5 yuan; The commission of the securities investment fund is 2.5 ‰ of the transaction amount, starting from 5 yuan; The commission standard for the repurchase business is: stock software is repurchased for 3 days, 4 days, 7 days, 14 days, 28 days, 63 days, 9 1 day, 182 days and 273 days, respectively, according to the transaction amount of 0. 1 ‰ and 0./kloc-.
3. transfer fees: transfer fees refers to the fees paid by the buyer and the seller to change the equity registration after the trading of stocks and funds entrusted by investors. This income belongs to the income of the securities registration and settlement institution, which is deducted by the securities operation institution in the settlement and delivery era with investors. Transfer fees charges: the transfer fees of A shares and funds traded on the Shanghai Stock Exchange is 1‰, and the starting point is 1 yuan, of which 0.5‰ is composed of securities. The Shenzhen Stock Exchange exempts A shares, funds and bonds from trading and transfer fees.
4. Other expenses: Other expenses refer to entrustment fee (communication fee), withdrawal fee, inquiry fee, account opening fee, magnetic card fee, credit card fee for telephone entrustment and self-entrustment, overtime fee, etc. When investors entrust to buy and sell securities. These expenses are mainly used for communication, equipment, document production and other expenses. Generally speaking, the commission fee is for investors to buy and sell the Shanghai and Shenzhen stock exchanges locally. Pay the handling fee of 1 yuan at the securities business department, and pay the handling fee of 5 yuan in different places. Other fees shall be charged by brokers as needed. Generally, there is no clear charging standard, as long as their fees are approved by the local price department. At present, many securities institutions have reduced or exempted some or all of these fees for the sake of competition.
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Stock classification
A shares, B shares and H shares are classified by English letters. A shares are denominated in RMB, issued by China citizens and listed in China; B shares are denominated in US dollars and Hong Kong dollars, issued to overseas investors, but listed in China; H shares are shares issued and listed by domestic enterprises in Hong Kong, and are denominated in Hong Kong dollars. In addition, the shares listed by China enterprises in the United States, Singapore and Japan are called N shares, S shares and T shares respectively. Due to the different pricing and issuing targets of A shares, B shares and H shares. In addition, it is worth mentioning that B shares listed on the Shanghai Stock Exchange are denominated in US dollars, while B shares listed on the Shenzhen Stock Exchange are denominated in Hong Kong dollars, so the share prices of the two cities are quite different. If you convert US dollars and Hong Kong dollars into RMB, you will know that the share prices of the two places are basically the same. It is not standard to classify stocks by letters. According to the requirements of China Securities Regulatory Commission, stock abbreviations must be standardized. I believe that with the further development of China stock market, the appellation of A shares, B shares and H shares will become history.
There are so-called "red chips" and "blue chips" in Hong Kong stock market. Red chips refer to stocks issued by companies whose largest controlling interest directly or indirectly belongs to relevant departments or enterprises in Chinese mainland, and listed on the Hong Kong Stock Exchange. Chinese enterprises listed in Hong Kong. People describe China as a red China, and her national flag is a five-star red flag, so the stocks issued by listed companies associated with China are called red chips; Americans gamble with the highest blue chips, the middle red chips and the lowest white chips. Later, people called the most powerful and active stocks in the stock market blue chips. Blue chip has almost become synonymous with blue chip. With the mainland listing in Hong Kong, some people have made a more rigorous definition of red chips, that is, Chinese-funded enterprises bound by Hong Kong laws must be registered in Hong Kong, while companies registered in the mainland are only enterprises that borrow funds from the Hong Kong capital market, which is also commonly known as "H shares". However, red chips are still widely used as the names of Chinese companies listed in Hong Kong.
The so-called growth stock refers to the stock that a company has a small scale when issuing shares, but its business is booming, well managed, profitable and its products are competitive in the market.
The so-called hot stocks refer to stocks with large trading volume, high turnover rate and large price fluctuations. The formation of hot stocks often has its specific economic, political and social reasons.
The so-called blue chip refers to the stocks of companies with good performance but slow growth. This kind of company has the strength to resist the economic recession, but it can't bring you exciting profits.
The so-called cyclical stock refers to the stock of a company whose operating performance changes with the ups and downs of the economic cycle. Aviation industry, automobile industry, steel industry and chemical industry all belong to this category.
The so-called regenerative stocks refer to the stocks that have been recognized by investors after rectification of enterprises that have difficulties in operation or even bankruptcy.
So-called defensive stocks. These common stocks are just the opposite of the stock price cycle stocks. In the face of uncertainty and business recession, their returns and dividends are higher than the social average and relatively stable.
The so-called blue chip stocks (also known as concept stocks). Refers to stocks that can cater to the trend of a certain era, but may not be able to adapt to the trend of another era, and the stock price has fluctuated greatly.
The so-called stock trading. Refers to those common stocks whose prices are very unstable or whose company prospects are very uncertain. This is mainly the shares of ambitious, developmental or adventurous companies, popular new shares and common shares issued by some oil and mining companies with lower par value.
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stock code
Stock code is a numerical code assigned to listed stocks by Shanghai and Shenzhen stock exchanges. This Code covers all securities listed on the Exchange. Familiarity with this kind of code will help us to increase our understanding of trading varieties. A-share code: 600 ××××××× or 60 ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
The subscription code and listing code of GEM are both 30××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
Ordinary shareholders enjoy the following basic rights in proportion to their shares:
(1) Company's right to participate in decision-making. Ordinary shareholders have the right to attend shareholders' meetings, to propose, vote and vote, or to entrust others to exercise shareholders' rights on their behalf.
(2) Profit distribution right. Ordinary shareholders have the right to receive dividends from the company's profit distribution. The dividend of common stock is not fixed, which is determined by the profitability of the company and its distribution policy. Ordinary shareholders must receive fixed dividends from preferred shareholders in order to enjoy dividend distribution rights.
(3) stock options. If the company needs to expand and issue more common shares, the existing common shareholders have the right to buy a certain number of newly issued shares at a certain price lower than the market price according to their shareholding ratio, so as to maintain their original enterprise ownership ratio.
(4) the right to distribute the remaining assets. When the company goes bankrupt or liquidates, if there is any surplus company assets after paying off debts, the rest will be distributed in the order of preferred shareholders first and common shareholders later.
preferred stock
Preferred stock relative to common stock. Preferred stock has priority over common stock in profit sharing and distribution of surplus property.
(1) Priority distribution right. When the company distributes profits, shareholders holding preferred shares have priority over shareholders holding common shares, but enjoy a fixed amount of dividends, that is, the dividends of preferred shares are relatively fixed.
(2) Priority creditor's rights. If the company is liquidated, the remaining property is distributed, and the preferred stock is distributed before the common stock. Note: When the company decides not to distribute dividends for several consecutive years, the preferred shareholders can enter the shareholders' meeting to express their opinions and safeguard their rights.
After the rights issue, it refers to the shares that are at a disadvantage compared with ordinary shares when distributing interest or interest dividends and remaining property. After the general common stock is distributed, the residual interest is redistributed. If the company's profits are huge and the number of shares issued after the rights issue is limited, the shareholders who buy the rights issue can get high returns. After the rights issue, the raised funds generally can't generate immediate income, the range of investors is limited and the utilization rate is not high. After the rights issue, it is usually issued under the following circumstances:
(1) When the company issues new shares to raise funds for equipment expansion, in order not to reduce the dividends of the old shares, before the new equipment is officially put into use, it will issue new shares by way of post-allotment;
(2) When the enterprise is merged, in order to adjust the merger ratio, a part of the shares should be paid to the shareholders of the merged enterprise, and then a rights issue should be made;
(3) In companies with government investment, the shares held by the government are regarded as post-distribution before the dividends of the privately held shares reach a certain level.
Junk stocks are stocks of companies that operate at a loss or violate regulations.
Blue-chip companies operate well, with good performance and earnings per share above 0.5 yuan.
In the blue-chip market, the stocks of large companies that occupy an important leading position in their respective industries, have excellent performance, are active in trading and have rich dividends are called blue-chip stocks.
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price of stock
The stock itself has no value, but it can be sold as a commodity at a certain price. The stock price is also called the stock market, which is not equal to the face value of the stock. The par value of a stock represents the monetary capital invested in the stock, which is fixed; However, the stock price is changeable, and it is often larger or smaller than the face value of the stock. The buying and selling of stocks is actually the right to get dividends, so the stock price is not the monetary expression of the actual capital value it represents, but a capitalized income. Stock prices are generally determined by dividends and interest rates. For example, if there is a stock with a face value of 100 yuan, it can get a dividend of 10 yuan every year, that is, a dividend of 10%, and the interest rate at that time was only 5%, then the price of this stock is 10 yuan ÷5%=200 yuan. The calculation formula is:
Stock price = dividend/interest rate
It can be seen that the change of stock price is directly proportional to dividend and inversely proportional to interest rate. If a joint-stock company is in good operating condition, dividends increase or expected dividends increase, the share price of this joint-stock company will rise; On the contrary, it will fall.
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Account opening process
1: Open an account in a securities company, and at the same time, open relevant procedures such as shareholder account card, fund account, online trading business and telephone trading business of Shanghai Stock Exchange or Shenzhen Stock Exchange. Then, download the online trading software designated by the securities company.
2. Open a current account in the bank, open a bank-securities transfer business, and deposit money in the bank.
3. Transfer the funds from the bank to the fund account of the securities company through the online trading system or telephone trading system.
You can buy and sell stocks in online trading system or telephone trading system.
5. The general account opening fee is the fee for opening a shareholder card. According to the regulations of the Exchange, the account opening fee for the Shanghai shareholder card is 40 yuan RMB, and the account opening fee for the Shenzhen shareholder card is 50 yuan RMB.
6. To buy stocks, you must entrust a trading agent and a securities company, so you must find a securities company to open an account. People who buy stocks are not allowed to trade directly on the Shanghai Stock Exchange. This is the same as the sale of second-hand houses, which is represented by intermediary companies.
How to open an account and a securities account-> open a capital account-> handle the specified transaction.
1. Be sure to open an account in person. First, you should open securities accounts in Shanghai and Shenzhen. Secondly, you can get a securities trading card by opening a capital account. Then, according to the regulations of Shanghai Stock Exchange, you should handle the designated transaction, and then you can buy and sell stocks in Shanghai stock market in the sales department.
2. To open a securities account, you need to hold the original and photocopy of your ID card, and to open a capital account, you also need to bring the original and photocopy of your securities account card. If you need to entrust others to operate, you need to go through the entrustment formalities with the agent (the agent must also carry my ID card).
3. One ID card can only open one securities account. If an account has been opened in another securities company, it is necessary to open an account after the securities company has gone through the formalities of canceling the designated transaction and transferring it to custody. When opening an account, you only need to open a capital account and handle the designated transaction.
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Subscribe for new shares
1. Opening an account includes a shareholder account and a capital account. According to the regulations of the Exchange, investors must first open an account, and the securities account card for the subscription of new shares in Shanghai stock market must handle the designated transaction, and deposit enough funds in the business department of the securities department where the account is opened for subscription.
II. Provisions on the number of subscriptions The Exchange has a limit on the number of subscriptions for each account that subscribes for new shares. First of all, the lower limit of application is 1000 shares in Shanghai stock market and 500 shares in Shenzhen stock market, and the subscription in Shanghai stock market must be 1000 shares or its integral multiple; The subscription in Shenzhen must be 500 shares or an integral multiple thereof; Secondly, there is an upper limit for subscription, which is stipulated in the issuance announcement. Entrustment cannot be lower than the lower limit or higher than the upper limit, otherwise it will be considered as invalid entrustment.
Three. Provisions on repeated subscription The subscription of new shares can only be made once and cannot be cancelled. Repeated subscription is invalid except for the first time. Moreover, if investors' misoperation leads to repeated subscription of new shares, brokers will repeatedly freeze the subscription of new shares, and some repeated subscriptions are invalid and cannot be revoked, resulting in the unavailability of investors' funds on the same day. Only after the close of the day, the exchange will regard it as an invalid entrustment and return the funds to the investor's account the next day for investors to use.
Four. Confirmation of the number of new shares subscribed and allocated. The contract number obtained by investors after completing the procedures for subscription of new shares is not the matching number, nor is it the transaction number on the next day's delivery sheet. Only when the delivery procedures are completed on the third trading day (T+3) after the issuance of new shares, the transaction number on the delivery slip is the allocation number of new shares. Investors who want to inquire about the new share allocation number can print the delivery note at the brokerage firm on T+2, and the brokerage firm will also print out the new share allocation numbers of all investors on that day and post them in the lobby of the sales department for investors to check. Some brokers have also opened telephone inquiry service, and investors can also inquire by telephone in the column of inquiring about the number of new shares allocated. The allocation of new shares is to allocate a number per 1000 shares, and the numbers are allocated continuously in chronological order, and the numbers are uninterrupted. At the time of delivery, each stock account only prints one subscription number, and at the same time prints the number of valid subscription shares. For example, if the delivery number is 10003502 and the number of valid subscription shares is 5000, then all subscription numbers of this account are 5, which are 10003502, 10003503 and 65438+ in turn.
Verb (abbreviation of verb) Freezing time of new share subscription funds According to the relevant regulations of new share subscription, investors' subscription funds will be returned to their fund accounts on T+3, that is, investors can use the funds on the fourth trading day after new share subscription.
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Transfer custody
Re-custody, also known as securities re-custody, is a special business for re-custody of securities listed on Shenzhen Stock Exchange. It means that investors entrust their securities listed on Shenzhen Stock Exchange to another securities company for custody, which is a voluntary act of investors. The securities bought by investors in which brokerage firm can only be sold in that brokerage firm. If investors need to transfer their shares to other brokers for entrustment, they should go through the transfer and custody procedures at the original custody brokers. Investors can transfer all their own securities at one time, or transfer part or part of the same kind of securities when going through the formalities of transferring custody. At present, the re-hosting business of Shenzhen Stock Exchange is different from previous years. The current re-custody business is handled through the trading system of Shenzhen Stock Exchange. However, it should be noted that the securities transferred through the trading system only include A shares, funds and convertible bonds listed on the Shenzhen Stock Exchange, and warrants and government bonds can no longer be entrusted.
General process: First, investors apply to the transferring brokerage firm and fill in the Application Form for Re-custody. In the application form, they should carefully fill in the account code, variety and quantity of the transferred securities, and be sure to fill in the name of the transferred securities firm and the corresponding seat number. After receiving the application, the transfer-out brokerage firm should carefully check whether the investor's ID card and application content are correct. After verification, an offer for re-hosting will be sent to Shenzhen Stock Exchange through the trading system during trading hours. Securities suspended on the same day can no longer be entrusted. After re-hosting the entrusted offer, you can also make an offer to apply for cancellation of the order before the market closes on the same day. After the close of each trading day, Shenzhen Securities Clearing Company will input the data after the transfer custody into the "settlement data packet" and send it to the securities company through the settlement communication system, and the securities company will modify the corresponding share subsidiary ledger in time according to the received transfer custody data. The re-entrusted securities arrive on T+ 1 day (i.e. the next trading day), and investors can entrust them to sell in the transferred securities company. Every time the transferred brokerage firm accepts a re-custody business, it will charge investors a re-custody fee of 30 yuan RMB. After successful re-hosting, investors can still use the Shenzhen account originally transferred to the brokerage firm. If it is not closed, where to buy and sell, otherwise it will be re-hosted.
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transfer
With the completion of the transaction, when the stock is transferred (sold) from the seller to the buyer, it means that the original shareholder has the right to transfer and the new shareholder becomes the new shareholder of the company. The old shareholder (the original shareholder, that is, the seller) lost the rights represented by the shares they sold, and the new shareholder gained the rights represented by the shares he bought. However, because the name and shareholding of the original shareholders are recorded in the register of shareholders, it is necessary to change the corresponding contents in the register of shareholders, which is usually called transfer procedures; Therefore, after the clearing and delivery of securities and prices, it does not mean the final settlement of securities trading procedures.
Transfer program
The transfer procedure of Shanghai Stock Exchange adopts computer automatic transfer, and once the buyer and seller make a deal, the transfer procedure has been completed. Shenzhen Stock Exchange is also adopting advanced transfer procedures. After the transaction is completed, the buyer and the seller use optical cables to transmit the transaction to the securities registration and transfer company and record the transaction in the account opened by the shareholders.
(1) After the delivery, the original shareholder shall fill in the Notice of Share Transfer, affix the seal and send it to the transfer agency of the issuing company together with the shares.
The company's board transfer institution can be established by itself or entrusted to a financial institution. Generally, issuing companies set up their own transfer institutions in the place of registration, and entrust financial institutions to handle them in other areas. At present, it is generally handled by financial institutions in China, securities companies in Shenzhen and stock exchanges in Shanghai.
If there is more than one transferee, the transferor (seller) shall fill in the notice of transfer respectively. If the transferor has multiple accounts, the transferor shall also fill in the notice separately.
(2) After the delivery, the new shareholders will receive two seal cards from the issuing company, affix the seal and send them to the transfer institution of the issuing company. The signature card mainly records the name and address of the new shareholder, the number and number of shares held by the new shareholder, and the date of stock transfer.
(3) After receiving the notice of transfer from the old shareholders and the signature cards of the old shareholders and the new shareholders, the transfer institution will conduct an audit. If the procedures are complete, it will immediately cancel the old shares, issue new shares, and then send the new and old shares to the visa agency together, and change the corresponding contents in the register of shareholders. The role of the visa agency is to check whether the company has overspent and forged shares. Generally speaking, the issuing company may not set up its own contracting agency, but must entrust a financial institution, and the financial institution responsible for the company's transfer procedures shall not be used as a visa institution.
(4) The contracting agency receives the new and old shares and related materials sent by the transfer agency for review. If the procedures are complete, it will send them to the transfer agency after signing the new and old shares in front.
(5) After receiving the certified new and old shares, the transfer institution shall deliver the new shares to the new shareholders, and the old shares shall be filed by the transfer institution.
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Basic nouns
Retail investor: a small investor who buys and sells stocks in small amounts.
Hand: stock trading, selling stocks by improper means, and then trying to depress the market and make up for it at a low price; Or buy at a low price and sell at a high price after speculation. This kind of person is called left hand.
Eating goods: secretly buying stocks at low prices is called eating goods.
Shipment: quietly selling stocks at high prices is called shipment.
Inertial pressure: the act of holding down the stock price by improper means is called inertia pressure.
Sedan chair: investors with sharp eyes or advanced information buy or sell stocks in advance when big investors buy or sell in secret, or before bullish or bearish news is announced, and then sell or buy back when the stock price rises or falls sharply after a large number of retail investors follow or follow, which is called "sitting in a sedan chair".
Sedan chair: after the bullish or bad news is announced, people who think that the stock price will change greatly grab in and grab out, with limited profits, and even often get stuck, that is, lift the sedan chair for others.
Hot stocks: refers to stocks with large trading volume, strong liquidity and large price changes.
Unpopular stocks: refers to stocks with small trading volume, poor liquidity or even no trading, and small price changes.
Leading stock: refers to the stock that plays a leading role in the overall trend of the stock market. Leading stocks must be hot stocks.
Investment in stocks: refers to the stocks with stable operation, strong profitability and high dividends of the issuing company.
Investment stock: refers to the stock whose share price rises and falls greatly due to human factors.
High-interest stock: refers to the stock that the issuing company pays more dividends.
Interest-free stock: refers to the stock that the issuing company has not paid dividends for many years.
Growth stock: refers to the stocks of newly-added enterprises with high profit growth rate in promising industries. The share price of growth stocks is rising.
Circulating stock: refers to the stock that is constantly circulating in the market.
Stable stock: refers to the stock held by shareholders for a long time.
Quotation board: Some large banks, brokerage companies and stock exchanges have set up large electronic screens to provide stock quotations to customers at any time.
Break-even point: the base point of stock trading volume of an exchange, beyond which profits will be realized, and vice versa.
Interest filling: before ex-dividend, the market price of the stock is approximately equal to the market price before ex-dividend announcement plus the dividend to be distributed. Therefore, the stock price will rise after the ex-dividend is announced. After the ex-dividend is completed, the stock price often falls below the pre-dividend stock price. The difference between the two is about equal to the dividend. If after the ex-dividend is completed, the share price rises close to or exceeds the share price before the ex-dividend, and the difference between the two is made up, it is called interest filling.
Face value: refers to the face value of the stock initially set by the company.
Stiff: refers to the situation that the stock price often hovers and stagnates in the stock market. In a certain period of time, it can neither rise nor fall. Shanghai investors call it rigidity.
Rights issue: When a company issues new shares, it distributes them to shareholders for subscription at a special price (lower than the market price) according to the number of shares owned by shareholders.
Asking price: the lowest price that the seller is willing to sell in stock trading.
Legal capital: For example, the legal capital of a company is 20 million yuan, but only 6.5438+million yuan is enough when it starts business, and shareholders pay 6.5438+million yuan as the full capital.
Blue chip: refers to the stocks issued by listed companies with abundant capital and good reputation.
Trust share: refers to the share that the provident fund holders can invest with the approval of the Provident Fund Bureau.
Margin trading stocks: refers to stocks that can be traded in margin trading.
Dividend included: Dividends are included when buying and selling stocks.
Excluding dividends: dividends are not included when buying and selling stocks.
Including bonus shares: when buying and selling stocks, including bonus shares issued by the company.
Excluding bonus shares: stock trading does not include bonus shares.
Including additional shares: you can enjoy the additional shares distributed by the company.
Eliminate additional shares: eliminate additional shares.
Including all rights and interests: including dividends, bonus shares or shares plus shares.
Exclude all rights and interests: that is, do not enjoy all kinds of rights and interests.
Net value of stock: after the stock is listed, the actual transaction price is formed, which is usually called the stock price, that is, the stock price. Most stock prices are far from their par values. Usually, the so-called net stock value refers to the intrinsic value of the issued shares. From the accounting point of view, the net value of shares is equal to the residual surplus of the company's assets MINUS liabilities, and then divided by the total number of shares issued by the company.
Stock turnover rate: the percentage of shares traded in a year to the number of shares listed on the exchange and the total number of shares issued by individuals and institutions.
Commission ratio: it is an index to measure the relative strength of buying and selling in a certain period. The calculation formula is commission ratio = (number of commission buyers-number of commission sellers)/(number of commission buyers+number of commission sellers) × 100%.
Volume ratio: it is an index to measure the relative volume, that is, the ratio of the average volume per minute after the opening of the market to the average volume per minute in the past five trading days.
Opening price: 9: 00 a.m.15-9: 25 call auction time. During my stay in call auction, the automatic matching system of the exchange only stores mismatches. After the bidding time is over, the matching system will generate the opening price of the stock on that day according to the principle of call auction. According to the regulations of Shanghai Stock Exchange, if there is no transaction within half an hour after the opening of the market, the closing price of the previous day is the opening price of the day. Sometimes, if a security has not been traded for several days, the stock exchange will put forward a guiding price according to the price trend of the securities entrusted by customers as the opening price after trading. The average price or average selling price on the first day of securities listing is the opening price.
Closing price: the closing price refers to the transaction price of the last transaction of a security before the end of the trading activities of the stock exchange one day. If there is no transaction on that day, the latest transaction price is taken as the closing price, because the closing price is the standard of the current market and the basis of the opening price of the next trading day, which can be used to predict the future securities market; Therefore, when analyzing the market, investors generally take the closing price as the calculation basis.
Disk stall: refers to investors not actively buying and selling, but taking a wait-and-see attitude, so that the change of stock price on that day is very small. This situation is called disk stop.
Reorganization means that after a period of sharp rise or fall, the stock price begins to fluctuate slightly and enters a stage of steady change. This phenomenon is called reorganization, which is the preparation stage of the next big change. Pan Jian's share price rose slowly, called Pan Jian. The stock price of floppy disk falls slowly, which is called floppy disk. Back file refers to the phenomenon that the stock price temporarily falls back because of the excessive increase in the process of rising. The number of transactions refers to the number of transactions of various stocks on that day. Volume refers to the total price of each stock traded on that day. The final purchase price refers to the price that the buyer wants to buy after the close of the day. The final bid refers to the seller's asking price after the close of the day.
Quote: It is the highest or lowest bid reported by traders for a security in a certain period of time in the securities market. Quotation represents the highest price that buyers and sellers are willing to pay. The buying price is the price at which the buyer is willing to buy a security, and the selling price is the price at which the seller is willing to sell. The order of quotation is customarily to quote first and then quote. In the stock exchange, there are four kinds of quotations: one is shouting, the other is gesturing, the third is filling in the declaration record form, and the fourth is inputting it into the computer display screen. Highest price: refers to the highest price among the trading prices of the day. Sometimes there is only one highest price, and sometimes there is more than one. Lowest price: refers to the lowest transaction price of the day. Sometimes there is only one lowest price, and sometimes there is more than one. Chip investors hold a certain number of stocks.
Stock market bubble: The stock market bubble refers to the phenomenon that the stock price exceeds its intrinsic investment value in the stock exchange market. Generally speaking, the stock bubble has always existed in the stock market. Now the stock market bubble generally refers to the phenomenon that the stock price in the stock market exceeds its intrinsic investment value. In a continuous process, the stock price rises sharply, which makes people expect the price to rise further, thus attracting a large number of investors who only benefit from the bid-ask spread, and finally making the stock price deviate greatly from its net value. There is no absolute standard for the size of foam. All the stock market bubbles in history were confirmed afterwards. When the stock market enters the bubble stage, it does not mean that it will fall or plummet immediately, but it means that investing in the stock market at this time is more risky and the rate of return is smaller.
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stock dividend
Buy shares of a listed company, invest in the company, and enjoy the company's dividend rights. Generally speaking, there are two forms of dividends of listed companies; Distribute cash dividends and stock dividends to shareholders. Listed companies can choose one of the forms to pay dividends according to the situation, or they can use both forms at the same time.