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Stock Challenge 2008

Stock Challenge 2008. Are you ready???. Financial Markets. Stock Market Primary market: Market capitalization Secondary market: Trading interaction of investors Reflecting the performance and investors ’ confidence towards a company Derivatives Market Debenture Market. Participants.

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Stock Challenge 2008

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  1. Stock Challenge 2008 Are you ready???

  2. Financial Markets • Stock Market • Primary market: Market capitalization • Secondary market: Trading • interaction of investors • Reflecting the performance and investors’ confidence towards a company • Derivatives Market • Debenture Market

  3. Participants • Investors • e.g. your father and mother, bank, companies, fund manager… • Speculators (make short-term profit)

  4. Financial Markets • Hang Seng Index (HIS) (恆生成份股) (43) • HANG SENG CHINA ENTERPRISES IND (HSCE) (恆生中國企業指數 )

  5. Hang Seng Index (HIS)

  6. Stock Market • Stock: • Blue Chips • 00001長江實業 • 00005匯豐控股 • 00012恒基地產 • Red Chips (H-share) • 02319蒙牛乳業 • 02628中國人壽 • 03838中國澱粉 • 03993洛陽鉬業 • Derivatives • Warrants • Debentures • Bonds

  7. Why the stock price changes? • Rumor? • Sheep effects? • Earnings Announcements (is the company’s making profits?) • Expectations • Prior expectations • Posterior (Revised) expectations • Actual performance

  8. Why the stock price changes? • External Factor (Macro-environment) • Changes of Accounting standards • Increase in interest rates • Government policies • Economic environment (e.g. recession) • Increase in unemployment rate

  9. YAHOO 新聞 From: http://hk.yahoo.com/ • 在新會商會陳白沙紀念中學讀中六的杜同學昨日出席活動。他說，自己早於中四已開始投資，並持有數十萬元的股票。他說︰「由於爸爸也有投資習慣，我買股票也是受爸爸影響，是他給我數十萬元作投資。」 • 現時持有7隻股票的杜同學，主要抽新股、投資A股和H股，利用技術分析去進行投資，他說兩年來已獲利數萬元。仍在求學時期的他說，由於平日上課沒有太多空餘時間留意股票市場最新動向，所以他會利用周末的下午來上網看資料和閱讀整周的財經新聞。

  10. 周日話題﹕投機炒賣 理直氣壯 (明報) 11月4日 股市狂熱＋英雄出少年＝少年股神 From: http://hk.yahoo.com/ • 股市從來都是希臘的雙面神Janus般一方面是投資，另一方面是投機。當你是長期持有股票收息，那便是投資。當你只是短線炒賣，或只買賣衍生工具時，那便是投機。可是，當股市不斷升，像今年的狂熱時，投資與投機的界線已變得十分模糊，甚至可以說，投機的一面已佔了上風，把投資的一面比下去。縱使你只是為長線投資而買一隻股票，當那股票價格上升以倍計時，客觀上你已投機得手，這叫「客觀事實不為主觀想法改變」。 • 當一個調查指出，近五成港人都買賣股票時，你可以肯定，他們已不止在投資，而是被迫或自願的投機，要從升市中分一杯羹了！

  11. 匯豐控股有限公司 (0005.HK) • P/E (ttm): 11.36 • 市值: 1.43 T • 每股盈利 (ttm): 10.88 • 股息及溢利: 0.870 • 買入: 123.600 • 賣出: 123.700 • 昨日收市 :126.300 • 開市: 125.700 • 成交量: 39,536,808 • 今日波幅:123.4 -126.5 • 52週波幅:126.4 -153.5 From: http://hk.finance.yahoo.com/

  12. Tools for Analysis • Annual Report • News report • Announcements • Comments from financial analysts

  13. 匯豐控股有限公司 (0005.HK)(Annual Report – Financial Analysis) From: http://hk.finance.yahoo.com/

  14. 匯豐控股有限公司 (0005.HK)(Annual Report – Basic information) From: http://hk.finance.yahoo.com/

  15. 匯豐控股有限公司 (0005.HK)(Annual Report – future trends) From: http://hk.finance.yahoo.com/

  16. 匯豐控股有限公司 (0005.HK)(Announcements) From: http://hk.finance.yahoo.com/

  17. Investment strategy • Golden rule: • Forming a balanced-portfolio (an investment with several different kinds of stock) • Take the risk, take the chance • Making the highest return from acceptable risk • Keep a close look on the portfolio from time to time

  18. References • Hong Kong Exchanges and Clearing Ltd. • http://www.hkex.com.hk/index_c.htm • Glossary • http://www.hkex.com.hk/glossary/Glossary_Dec07_CE.pdf • Yahoo • http://hk.finance.yahoo.com/

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