A website for novice stock traders

Basic concepts of stocks: (carefully summarized)

A stocks

Refer to the certificates issued by the company to prove the shares held by shareholders.

B joint-stock limited liability company

All capital is divided into equal shares. Shareholders have limited liability for the company to the extent of the shares they hold. The company has limited liability for its debts with all of its assets.

C stock code

The code for A stock trading on the Shanghai Stock Exchange starts with 600 or 601

The code for B stock trading starts with 900

The trading code of A shares in Shenzhen Stock Exchange starts with 000

The trading code of B shares starts with 200

The trading code of new shares in Shanghai Stock Exchange starts with 730

The code for subscription of new shares in the Shenzhen Stock Exchange is the same as the stock trading code in the Shenzhen Stock Exchange

The allotment code starts with 700 for the Shanghai Stock Exchange and 080 for the Shenzhen Stock Exchange

1, quotation unit< /p>

The minimum unit change in the A-share declaration price is RMB 0.01. For example: If you want to buy Shenzhen Development Bank, the price you fill in the form is: 10.02 yuan, but you cannot fill in 10.002 yuan. The minimum change unit of the B-share declaration price is US$0.001 (Shanghai stock market)

2, price limit

The highest daily market price rises (or falls) to 10% of the previous day's closing price % range

ST shares, the increase or decrease is 5%

New stock listing and price limit The upper limit of the price increase of the new stock on the day of listing is the issue price × (1+1000%), and the lower limit is the issuance price Price × (1-50%). But the next day, the price limit rules must be followed.

3. New stock listing

The price limit stipulates that when entrusting the price of the new stock on the day of listing, some rules must be followed. For example, the Shenzhen Stock Exchange stipulates that the collective bidding range of new shares on the first day of listing is 150 yuan of the issue price, and the effective bidding range of continuous bidding is the latest transaction price of 15 yuan. The effective bidding range of the Shanghai Stock Exchange's continuous bidding for new shares on the first day of listing is 10% of the current stock price.

4. One lot

One lot is 100 shares. In principle, stock trading should be carried out in multiples of one lot.

However, due to the allotment of shares, there may be less than "one lot". For example, if you get 3 shares for 10, you have 100 shares and become 130 shares. In this case, you can Sold 130 shares. In other words, odd shares are less than "one lot" and can be sold.

5, current hand

It is the number of lots traded at that time

6, T+1

T is the English Trade (meaning of transaction) ) first letter. Currently, the Shanghai and Shenzhen stock exchanges stipulate that stocks bought on the same day can only be sold on the next day. After the transactions of stocks sold on the same day are confirmed, the returned funds can be used to buy stocks on the same day.

7. Call auction

(How the opening price is generated) Before the start of daily trading, that is: from 9:15 to 9:25, the Shanghai and Shenzhen Stock Exchanges begin to accept valid bids from investors. At the moment when the trading order officially opened at 9:30, the computer host of the Shanghai and Shenzhen Stock Exchanges began to match the transactions, and determined the opening price of each stock based on the price of the maximum trading volume of each stock. There will be no call auction at the afternoon opening. The scope of application of call auction is: subscription of new shares, allotment of shares, and bonds.

8. Continuous bidding call auction

Call bidding mainly produces the opening price, and then the stock market will undergo a continuous buying and selling phase, so there is continuous bidding. Buy and sell orders that are not executed in the call auction will continue to be valid, and they will automatically enter continuous bidding and wait for the transaction to be completed at the appropriate price. At this time, stockholders across the country were still continuously inputting various valid trading orders into the computer host of the Shanghai and Shenzhen Stock Exchanges, and the computer hosts of the Shanghai and Shenzhen Stock Exchanges were also continuously inputting various valid orders from investors across the country. Buy and sell orders are matched through continuous bidding.

9. Fill in the allotment form

Whether to fill in "buy" or "sell". Some people say that if I buy the allotment of shares with money, of course I write "buy". This is correct for allotment of shares in the Shenzhen Stock Exchange. Fill in "buy". But when placing shares in the Shanghai stock market, you should fill in "sell". This "selling" is not "selling" the rights issue, but "selling" the rights issue and obtaining the rights issue.

10. The regulations for the issuance of new shares

are: when a listed company applies for the issuance of new shares, in addition to complying with the provisions of the "Administrative Measures for the Issuance of New Shares by Listed Companies", it must also comply with the latest three accounting The average annual weighted average return on net assets is not less than 10%, and the weighted average return on net assets in the most recent fiscal year is not less than 10% and other conditions

① Directed issuance to old shareholders and to other shareholders issued.

② Online bidding issuance, the price of additional issuance is variable.

③ No additional issuance to original shareholders, only to legal persons. Such as Shenzhen Konka;

④ Only additional issuance of funds.

⑤ Proportional additional issuance.

⑥ Increase the issuance in several times.

⑦Synchronize ten-day prices online and offline.

11. Bullish investors who are optimistic about the stock price and are optimistic about the prospects of the stock market.

Short investors who are bearish and bearish on the outlook for the stock market are expected to see the stock price fall.

It is expected that the stock price will not rise or fall, and investors in the stock market will wait and see

12. Diving is a metaphor for the stock market falling

13. Deer City

Refers to the strong speculative atmosphere in the stock market. Speculators are like deer, frequently speculating in the short term and running away when they see profits.

14. The gap-high opening refers to the phenomenon that the opening price exceeds yesterday's highest price.

Gap low opening refers to the phenomenon that the opening price exceeds yesterday's lowest price.

The gap refers to the space price where the opening price exceeds yesterday's highest price or the opening price is lower than yesterday's lowest price.

15, Golden Cross

(Golden Cross) A term in technical analysis. It refers to the trend graph in which the short-term moving average crosses the medium-term moving average upward or the short-term and medium-term moving average crosses the long-term moving average simultaneously.

16. The market opening is specific to the trading information of 5 levels of buying and selling of individual stocks.

17. Enter the number of commissioned buying lots into the stock exchange’s host computer to buy a certain stock. Currently, the sales department’s terminal computer displays the first five levels of commissioned buying lots, and the subsequent commissioned buying lots cannot be seen by ordinary investors. For example, the buying orders 1, 2, 3, 4, and 5 currently seen by investors reveal the number of lots of stocks they want to buy at different prices.

Entrust the number of lots to be sold on the stock exchange’s host computer. Currently, the sales department’s terminal computer displays the first five levels of commissioned selling lots, and the subsequent commissioned selling lots cannot be seen by ordinary investors. For example, the selling orders one, two, three, four, and five that investors currently see reveal the number of lots of stocks they want to sell at different prices.

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45.95% indicates that at the time of buying and selling Shenzhen Development Bank, the power of buying was greater than that of selling

19. Price priority, time priority When buying and selling stocks, if many investors buy and sell a stock at the same time , you must follow the rules of "price priority, time priority".

20. The primary market (issuance market) is a market where stocks are in the recruitment stage and are being issued and cannot be listed and circulated.

The secondary market (circulation market) is a market where the shares of a joint-stock company can be traded after they are issued.

21. Stock index

Generally used to reflect the trend of macroeconomic changes and changes in the stock market itself. Its compilation principle is: the ratio of the market value of the stock price on that day to the market value of the stock price on the base day. For example: the base date of the Shanghai Stock Exchange Index is December 19, 1990. Today's real-time index = previous day's closing index × [today's total market value ÷ previous day's total market value]. For example: on February 17, 2003, the total market capitalization of the Shanghai Stock Exchange was 4,898.871 billion yuan, and the index was 1,496.52 points. On February 18, the total market value of the Shanghai Stock Exchange was 4,899.142 billion yuan. Calculation shows: 18-day index = 1496.52 × [48991.42÷48988.71] = 1496.60 points. An increase of 0.08 points on February 18 compared with February 17

22, component index

The Shenzhen Stock Exchange began to compile the SZSE Component Index on January 3, 1995 and in February of the same year It will be released in real time on the 20th. The reason for compiling the component index is that 2/3 of the stock capital in my country's stock market is not circulating, so the comprehensive index is not very scientific in reflecting changes in the stock market, while the component index is compiled based on circulating stocks, which has a certain rationality. That is: "Whoever circulates counts."

23. Price-to-earnings ratio = stock price/earnings per share

Reflects the relationship between a company's stock price and its after-tax profit per share. The calculation formula is the closing price of the company's stock price and the company's earnings per share. Ratio of profit after tax (earnings per share). For example, the closing price of Beiya Group (600705) at the end of 2002 was 6.20 yuan, and the stock's earnings per share in 2002 was 0.165 yuan. Therefore, the stock's earnings ratio at the end of 2002 was 37.58 times (6.20÷0.165). Since stock prices change every day, earnings per share are only calculated once a year. Coupled with the problem of non-tradable shares, it is unscientific to use the price-to-earnings ratio as the only criterion for measuring the stock market. In addition, loss-making stocks do not calculate the P/E ratio.

24. Price-to-book ratio = stock price/net value per share (more important)

The net value of the stock is the total of capital reserve fund, capital public welfare fund, statutory reserve fund, discretionary reserve fund, undistributed earnings and other items , also called net assets. Divide the net worth by the company's total equity to get the net worth per share. The net value per share is the basis for calculating the price-to-book ratio (the price-to-earnings ratio uses earnings per share), that is, the price-to-book ratio is equal to the closing price of the day divided by the net value per share. For example, the closing price of Beiya Group (600705) at the end of 2002 was 6.20 yuan, and the net value per share in 2002 was 2.725 yuan, so the price-to-book ratio was 2.275 times.

25. Transfer of custody

If shareholders need to switch to another business department to buy and sell stocks, they must go through the procedures for transferring the stock to custody. The procedure (from Sales Department A to Sales Department B) is:

1. Open an account at the transfer party (Business Department B) and write down the name and seat number of Sales Department B.

2. Fill out the "Entrustment Transfer Application Form" at the transferor (Business Department A).

3. The next day, go to Sales Department B to check whether the stock has been transferred.

4. In the Shanghai Stock Exchange, it is necessary to cancel the designated transaction at Sales Department A and re-handle the designated transaction at Sales Department B.

26. Ex-dividend and ex-right (XD, XR, DR). The English word for ex-dividend is EXCLUDE DIVIDEND, or XD for short. The English word for excluding rights is EXCLUDE RIGHT, or XR for short. If it is ex-dividend and ex-right, the English abbreviation is DR.

If a stock is ex-dividend today, mark XD before the stock name; if a stock is ex-dividend today, mark XR before the stock name; if a stock is ex-dividend and ex-right today, mark the Indicate DR before the name.

27. The meaning of N before stocks is that N is the first letter of NEW in English. When a new stock is listed on the first day, for the sake of distinction, N is added before the name of the new stock.

28, road show

The literal translation of English road show. Refers to when a listed company issues stocks, company leaders and stock underwriters introduce the company's situation to shareholders and accept inquiries from shareholders. Nowadays it is usually done via the Internet.