Hang Seng Index
Hang Seng Index | |
---|---|
base data | |
Country | Hong Kong , China |
Stock exchange | SEHK |
ISIN | HK0000004322 |
WKN | 145733 |
symbol | HSI |
RIC | HSI |
Bloomberg code | HSI: IND |
category | Stock index |
Type | Price index |
The Hang Seng Index ( HSI , Chinese 恒生 指數 / 恒生 指数 , Pinyin Héngshēng Zhǐshù , Jyutping Hang 4 sang 1 Zi 2 sou 3 , short: 恒指 , Héngzhǐ , Jyutping Hang 4 zi 2 ) is the leading stock index in Hong Kong and one of the most important in Asia. It tracks the share prices of the 50 largest and most traded companies on the Hong Kong Stock Exchange and thus represents around 57% of the total market capitalization on this exchange.
The index was published for the first time on November 24, 1969 by HSI Services Limited and was calculated back to July 31, 1964 (base value = 100). The publisher is a subsidiary of Hang Seng Bank , which is itself represented in the Hang Seng Index with the second highest market capitalization of any Hong Kong bank.
The HSI is a price index ; At the same time, a performance index is calculated ("HSI TRI"). By far the largest weight in the index are companies in the financial sector (49%), followed by the real estate and construction industries (11%), information technology (10%) and the energy industry (7%).
As of January 2, 1985, there are four branch sub-indices for the Hang Seng Index. The Hang Seng Indexes Company also publishes other indices, including the Hang Seng China Enterprises Index , the Hang Seng Composite Index and the HSI Volatility Index.
calculation
The weighting of the public companies in the index was long after the total market capitalization. Since September 11, 2006, only the free float has been included in the calculation. The weighting of the individual values is limited to a maximum of 10%.
The HSI is available during HKEx trading hours from 10:00 a.m. to 12:30 p.m. and 2:30 p.m. to 4:00 p.m. local time ( UTC +8 , 3:00 a.m. to 5:30 a.m. and 7:30 a.m. to 9:00 a.m. : 00:00 CET ) updated every two seconds.
All stock corporations listed on the HKEx are taken into account when making the selection . In order to be included in the index, a company must be among the 90 percent of the best-placed companies in the HKEx in terms of market capitalization and trading volume. In addition, the share value must have been listed on the stock exchange for at least 24 months. The companies that are among the top five are an exception; they only have to have been listed on the Hong Kong stock exchange for three months. Six months are sufficient for ranks six to 15 and twelve months for ranks 16 to 20. On the other hand, positions 21 to 25 require 18 months and positions under 25 require 24 months. The composition is reviewed quarterly by HSI Services Limited.
The Hang Seng Index is calculated using the following formula:
Description of the parameters | |
P (t) | Current rate on day t |
P (t-1) | Closing price on the day ( t -1) |
IS | Shares in issue |
FAF | The free float factor, which is between 0 and 1, is adjusted quarterly |
CF | The capitalization factor, which is between 0 and 1, is adjusted quarterly |
history
20th century
On August 31, 1967, the Hong Kong benchmark index marked an all-time low of 58.61 points. A milestone in development was February 2, 1973 when the index closed at 1,098.86 points for the first time above the 1,000 point mark. By March 9, 1973, the HSI rose to a record high of 1,774.96 points. During the 1973 oil crisis and 1974 global recession , the index suffered the biggest fall in its history. By December 10, 1974, the HSI sank to a low of 150.11 points. That was a 91.5 percent decrease from March 1973. On June 12, 1981, the index closed again at 1,780.55 points, above its record of March 9, 1973.
On Monday, October 19, 1987, the HSI closed trading at 3,362.39 points. A few hours later, Black Monday occurred in the United States . The Dow Jones Industrial Average slumped 22.6 percent. The Hong Kong Stock Exchange was closed all week. On Monday, October 26, 1987, the Hang Seng Index suffered the highest daily loss in its history at 33.33 percent. It finished trading at 2,241.69 points. The stock market crash quickly spread to all major international trading venues. By December 9, 1987, the stock exchange prices in Hong Kong had fallen by 41.0 percent. The HSI ended trading that day at 1,984.98 points. Three years after "Black Monday" on July 4, 1990, the index closed again at 3,363.49 points, above its level before the stock market crash.
In the following years the HSI set numerous record highs. On March 11, 1992 the index closed at 5,005.96 points for the first time above the 5,000 point mark and on December 10, 1993 with 10,228.11 points for the first time above the limit of 10,000 points. On June 20, 1997, the HSI passed the 15,000 point mark with a final score of 15,154.36 points. By August 7, 1997, it had risen to 16,673.27 points. On October 29, 1997, the Hang Seng Index achieved the highest daily gain in its history with 18.82 percent.
During the Asian crisis , the HSI fell to 6,660.42 points by August 13, 1998. That was a decrease of 60.1 percent since August 1997. From the summer of 1998 the index began to rise again. On March 28, 2000, it ended trading at 18,292.86 points. The profit since August 1998 was 174.7 percent.
21st century
After the speculative bubble in the technology sector ( dot-com bubble ) burst , the Hong Kong benchmark index fell to a low of 8,409.01 points by April 25, 2003. That was a decrease of 54.0 percent since March 2000. April 25, 2003 marked the end of the downward trend. From spring 2003 the index was on the way up again.
On December 28, 2006, the HSI closed with 20,001.91 points for the first time above the 20,000 point mark and on September 19, 2007 with 25,554.64 points for the first time above the 25,000 point mark. The index crossed the limit of 30,000 points for the first time on October 26, 2007, when it ended trading at 30,405.22 points. On October 30, 2007, the Hang Seng Index marked an all-time high with a closing level of 31,638.22 points. That was an increase of 276.2 percent since April 2003.
In the course of the international financial crisis , which had its origin in the US real estate crisis in summer 2007, the HSI began to decline again. From the third quarter of 2008, the crisis increasingly affected the real economy. As a result, share prices collapsed worldwide. On September 5, 2008, the index closed at 19,933.27 points, below the limit of 20,000 points. The Hang Seng Index hit a new low on October 27, 2008 when it ended trading at 11,015.84 points. This corresponds to a decrease of 65.2 percent since October 30, 2007.
October 27, 2008 marks the turning point of the downward slide. From autumn 2008 the index was on the way up again. By November 8, 2010, it rose by 126.6 percent to a closing level of 24,964.37 points. The euro crisis from 2010 and the slowdown in the global economy from 2011 led to a collapse in the Hong Kong benchmark index. On October 4, 2011, the Hang Seng Index finished trading at 16,250.27 points. The loss since the high on November 8, 2010 is 34.9 percent.
The announcement of new bond purchase programs by the European Central Bank , the US Federal Reserve and the Bank of Japan led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in the price formation than the global economic slowdown and the state of the companies. On January 3, 2013, the index closed at 23,398.60 points, 44.0 percent higher than on October 4, 2011.
Highs
The overview shows the all-time highs of the Hang Seng Index.
Points | date | |
---|---|---|
in the course of trading | 33,484.08 | Monday 29th January 2018 |
on a closing price basis | 33,154.12 | Friday 26th January 2018 |
Milestones
The table shows the milestones of the Hang Seng Index, which was calculated back to 1964.
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The best days
The table shows the best days of the Hang Seng Index, calculated back to 1964.
rank | date | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Oct 29, 1997 | 10,765.30 | 1,705.41 | 18.82 |
2 | Feb 9, 1973 | 1,449.91 | 182.65 | 14.41 |
3 | Oct 27, 2008 | 12,596.29 | 1,580.45 | 14.35 |
4th | Feb. 2, 1998 | 10,578.60 | 1,326.24 | 14.33 |
5 | Nov. 27, 1974 | 185.17 | 21.82 | 13.36 |
6th | Feb. 2, 1973 | 1,098.86 | 128.17 | 13.20 |
7th | Apr 11, 1973 | 926.45 | 108.06 | 13.20 |
8th | Oct 30, 2008 | 14,329.85 | 1,627.78 | 12.82 |
9 | Jan. 27, 1975 | 209.62 | 23.05 | 12.35 |
10 | 18th July 1973 | 602.34 | 63.16 | 11.71 |
11 | Jan. 23, 2008 | 24,090.17 | 2,332.54 | 10.72 |
12 | 27 Mar 1975 | 279.38 | 26.98 | 10.69 |
13 | Feb 8, 1973 | 1,267.26 | 120.17 | 10.48 |
14th | Dec. 27, 1973 | 441.24 | 41.23 | 10.31 |
15th | Oct 13, 2008 | 16,312.16 | 1,515.29 | 10.24 |
16 | Apr 9, 1979 | 584.55 | 53.02 | 9.97 |
17th | 19 Sep 2008 | 19,327.73 | 1,695.27 | 9.61 |
18th | Sep 18 1974 | 227.47 | 19.66 | 9.46 |
19th | May 23, 1989 | 3,067.65 | 261.08 | 9.30 |
20th | Oct 16, 1998 | 9,777.01 | 806.59 | 8.99 |
21st | July 19, 1974 | 358.00 | 29.45 | 8.96 |
22nd | June 19, 1973 | 687.79 | 55.21 | 8.73 |
23 | Dec 8, 2008 | 15,044.87 | 1,198.78 | 8.66 |
24 | May 6, 1974 | 341.11 | 27.07 | 8.62 |
25th | May 14, 1973 | 742.45 | 58.61 | 8.57 |
26th | Feb. 14, 1975 | 261.81 | 20.50 | 8.50 |
27 | Aug 14, 1998 | 7,224.69 | 564.27 | 8.47 |
28 | Apr 13, 1973 | 1,083.15 | 83.07 | 8.31 |
29 | Aug 2, 1984 | 893.70 | 67.00 | 8.10 |
30th | Oct 5, 1982 | 881.96 | 65.73 | 8.05 |
31 | Apr 12, 1973 | 1,000.08 | 73.63 | 7.95 |
32 | May 24, 1974 | 401.91 | 29.51 | 7.92 |
33 | Sep 7 1998 | 8,076.76 | 588.29 | 7.86 |
34 | 23rd July 1973 | 680.70 | 49.49 | 7.84 |
35 | 28 Mar 1973 | 1,285.94 | 93.14 | 7.81 |
36 | Nov 6, 1987 | 2,113.67 | 152.77 | 7.79 |
37 | Sep 20 1974 | 234.55 | 16.74 | 7.69 |
38 | June 12, 1989 | 2,440.21 | 171.83 | 7.58 |
39 | Oct. 30, 1972 | 623.86 | 43.87 | 7.56 |
40 | Apr 2, 2009 | 14,521.97 | 1,002.43 | 7.41 |
41 | Jan. 13, 1998 | 8,720.00 | 598.94 | 7.38 |
42 | Jan. 10, 1973 | 970.88 | 66.67 | 7.37 |
43 | Oct 8, 1981 | 1,266.52 | 86.69 | 7.35 |
44 | May 1st 1973 | 788.48 | 53.65 | 7.30 |
45 | July 16, 1973 | 539.18 | 36.41 | 7.24 |
46 | Oct 9, 1998 | 8,506.79 | 567.28 | 7.15 |
47 | 3rd Sep 1997 | 14,713.99 | 978.66 | 7.13 |
48 | Dec 15, 1980 | 1,307.38 | 85.22 | 6.97 |
49 | Nov 2, 1981 | 1,370.90 | 89.19 | 6.96 |
50 | Oct 24, 1997 | 11,144.34 | 718.04 | 6.89 |
The worst days
The table shows the worst days of the Hang Seng Index calculated back to 1964.
rank | date | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Oct 26, 1987 | 2,241.69 | −1,120.70 | −33.33 |
2 | June 5th 1989 | 2,093.61 | −581.77 | −21.75 |
3 | Oct 28, 1997 | 9,059.89 | −1,438.31 | −13.70 |
4th | 26th Mar 1973 | 1,229.28 | −188.70 | −13.31 |
5 | Oct 27, 2008 | 11,015.84 | −1,602.54 | −12.70 |
6th | Apr 10, 1973 | 818.39 | −106.11 | −11.48 |
7th | Nov 13, 1972 | 672.62 | -86.80 | −11.43 |
8th | Oct 19, 1987 | 3,362.39 | −420.81 | −11.12 |
9 | May 22, 1989 | 2,806.57 | −339.06 | −10.78 |
10 | Oct 23, 1997 | 10,426.30 | −1,211.47 | −10.41 |
11 | Oct. 5, 1981 | 1,113.77 | −119.49 | −9.69 |
12 | Nov 22, 1971 | 278.87 | −29.49 | −9.56 |
13 | Oct 26, 1982 | 753.76 | −78.92 | −9.48 |
14th | Aug 12, 1982 | 966.36 | −100.31 | −9.40 |
15th | Apr 10, 1979 | 530.02 | −54.53 | −9.33 |
16 | Sep 12 2001 | 9,493.62 | −923.74 | −8.87 |
17th | Apr 4, 1973 | 1,058.94 | −101.40 | −8.74 |
18th | Jan. 12, 1998 | 8,121.06 | −773.58 | −8.70 |
19th | Jan. 22, 2008 | 21,757.63 | −2,061.23 | −8.65 |
20th | Apr 17, 2000 | 14,762.37 | −1,380.39 | −8.55 |
21st | May 25, 1989 | 2,752.51 | −256.22 | −8.52 |
22nd | 21 Mar 1973 | 1,386.82 | −127.91 | −8.44 |
23 | Aug 19, 1991 | 3,722.75 | −340.53 | −8.38 |
24 | Oct 24, 2008 | 12,618.38 | −1,142.11 | −8.30 |
25th | Apr 27, 1973 | 779.28 | -70.34 | −8.28 |
26th | May 8, 1973 | 689.92 | −61.59 | −8.20 |
27 | Oct 8, 2008 | 15,431.73 | −1,372.03 | −8.17 |
28 | 19 Sep 1983 | 842.20 | −73.90 | −8.07 |
29 | December 3, 1992 | 4,978.21 | −433.44 | −8.01 |
30th | 28 Sep 1981 | 1,245.26 | −105.75 | −7.83 |
31 | Apr 9, 1973 | 924.50 | −77.17 | −7.70 |
32 | June 8, 1983 | 867.04 | −71.83 | −7.65 |
33 | 23 Sep 1983 | 784.50 | −64.60 | −7.61 |
34 | July 9, 1973 | 533.74 | −43.36 | −7.51 |
35 | Aug 6, 1990 | 3,107.98 | −248.97 | −7.42 |
36 | 11th Mar 1996 | 10,397.45 | −820.34 | −7.31 |
37 | Oct 10, 2008 | 14,796.87 | −1,146.37 | −7.19 |
38 | Jan 5, 2000 | 15,846.72 | −1,226.10 | −7.18 |
39 | Jan. 12, 1973 | 886.70 | −68.31 | −7.15 |
40 | July 11, 1973 | 494.45 | −38.00 | −7.14 |
41 | Aug 31, 1998 | 7,275.04 | −554.70 | −7.08 |
42 | Nov 6, 2008 | 13,790.04 | −1,050.12 | −7.08 |
43 | 25th Mar 1975 | 250.29 | −19.00 | −7.06 |
44 | Oct. 1, 1982 | 862.06 | −65.12 | −7.02 |
45 | Jan 15, 1998 | 8,578.98 | −647.57 | −7.02 |
46 | Oct. 29, 1987 | 2,204.52 | −165.64 | −6.99 |
47 | 13 Mar 1975 | 294.26 | −21.67 | −6.86 |
48 | Jan 15, 1973 | 825.94 | −60.76 | −6.85 |
49 | July 23, 1984 | 747.02 | −54.08 | −6.75 |
50 | Nov 13, 1978 | 537.16 | -37.93 | −6.60 |
Annual development
The table shows the annual development of the Hang Seng Index, calculated back to 1964.
year | Final score in points |
Change in points |
Change in% |
---|---|---|---|
1964 | 100.00 | ||
1965 | 82.14 | −17.86 | −17.86 |
1966 | 79.69 | −2.45 | −2.98 |
1967 | 66.92 | −12.77 | −16.02 |
1968 | 107.55 | 40.63 | 60.71 |
1969 | 155.47 | 47.92 | 44.56 |
1970 | 211.64 | 56.17 | 36.13 |
1971 | 341.36 | 129.72 | 61.29 |
1972 | 843.40 | 502.04 | 147.07 |
1973 | 433.68 | −409.72 | −48.58 |
1974 | 171.11 | −262.57 | −60.54 |
1975 | 350.00 | 178.89 | 104.55 |
1976 | 447.67 | 97.67 | 27.91 |
1977 | 404.02 | −43.65 | −9.75 |
1978 | 495.51 | 91.49 | 22.64 |
1979 | 879.38 | 383.87 | 77.47 |
1980 | 1,473.59 | 594.21 | 67.57 |
1981 | 1,405.82 | −67.77 | −4.60 |
1982 | 783.82 | −622.00 | −44.24 |
1983 | 874.94 | 91.12 | 11.63 |
1984 | 1,200.38 | 567.35 | 89.62 |
1985 | 1,752.45 | 552.07 | 45.99 |
1986 | 2,568.30 | 815.85 | 46.55 |
1987 | 2,302.75 | −265.55 | −10.34 |
1988 | 2,687.44 | 384.69 | 16.70 |
1989 | 2,836.57 | 149.13 | 5.55 |
1990 | 3,024.55 | 187.98 | 6.63 |
1991 | 4,297.33 | 1,272.78 | 42.08 |
1992 | 5,512.39 | 1,215.06 | 28.28 |
1993 | 11,888.39 | 6,376.00 | 115.67 |
1994 | 8,191.04 | −3,697.40 | −31.10 |
1995 | 10,073.39 | 1,882.35 | 22.98 |
1996 | 13,451.45 | 3,378.06 | 33.53 |
1997 | 10,722.76 | −2,728.69 | −20.29 |
1998 | 10,048.58 | -674.18 | −6.29 |
1999 | 16,962.10 | 6,913.52 | 68.80 |
2000 | 15,095.53 | −1,866.57 | −11.00 |
2001 | 11,397.21 | −3,698.32 | −24.50 |
2002 | 9,321.29 | −2,075.92 | −18.21 |
2003 | 12,575.94 | 3,254.65 | 34.92 |
2004 | 14,230.14 | 1,654.20 | 13.15 |
2005 | 14,876.43 | 646.29 | 4.54 |
2006 | 19,964.72 | 5,088.29 | 34.20 |
2007 | 27,812.65 | 7,847.93 | 39.31 |
2008 | 14,387.48 | −13,425.17 | −48.27 |
2009 | 21,872.50 | 7,485.02 | 52.02 |
2010 | 23,035.45 | 1,162.95 | 5.32 |
2011 | 18,434.39 | −4,601.06 | −19.97 |
2012 | 22,656.92 | 4,222.53 | 22.91 |
2013 | 23,306.39 | 649.47 | 2.87 |
2014 | 23,605.04 | 298.65 | 1.28 |
2015 | 21,914.40 | −1,690.64 | −7.16 |
2016 | 22,000.56 | 86.16 | 0.39 |
2017 | 29,919.15 | 7.918.59 | 35.99 |
2018 | 25,845.70 | −4,073.45 | −13.61 |
2019 | 28,189.75 | 2,344.05 | 9.07 |
composition
The Hang Seng Index consists of the following companies (as of August 2, 2016).
rank | Surname | Branch | logo | Index weighting in% |
---|---|---|---|---|
1 | Tencent | Internet services | 10.17 | |
2 | HSBC | Finances | 9.25 | |
3 | AIA Group | Finances | 8.34 | |
4th | China Mobile | telecommunications | 8.14 | |
5 | China Construction Bank | Finances | 6.44 | |
6th | Industrial and Commercial Bank of China | Finances | 4.73 | |
7th | Bank of China | Finances | 3.67 | |
8th | CK Hutchison Holdings | property | 3.41 | |
9 | Hong Kong Exchanges and Clearing | Finances | 3.22 | |
10 | Ping An Insurance | Finances | 2.66 | |
11 | China National Offshore Oil | oil and gas | 2.57 | |
12 | CLP Group | Supplier | 2.24 | |
13 | Sinopec | oil and gas | 2.13 | |
14th | Sun Hung Kai Properties | property | 2.01 | |
16 | China Life Insurance | Finances | 1.85 | |
17th | Link REIT ( eng ) | property | 1.85 | |
18th | PetroChina | oil and gas | 1.67 | |
19th | Hong Kong and China Gas | Supplier | 1.61 | |
20th | Hang Seng Bank | Finances | 1.51 | |
21st | Power Assets Holdings Limited | Supplier | 1.48 | |
22nd | China Overseas Land and Investment | property | 1.44 | |
23 | Bank of China (Hong Kong) | Finances | 1.28 | |
24 | CITIC Pacific | Conglomerates | 0.98 | |
25th | The Wharf | Conglomerates | 0.96 | |
26th | Sands China ( eng ) | tourism | 0.94 | |
27 | MTR Corporation | Railway companies | 0.86 | |
28 | Galaxy Entertainment | tourism | 0.81 | |
29 | Hengan International ( eng ) | Consumer goods | 0.76 | |
30th | China Resources Land | property | 0.72 | |
31 | China Shenhua Energy | coal | 0.72 | |
32 | China Unicom | telecommunications | 0.72 | |
33 | Swire Pacific | Conglomerates | 0.71 | |
34 | Henderson Land Development | property | 0.71 | |
35 | Cheung Kong Infrastructure Holdings | Conglomerates | 0.66 | |
36 | New World Development | Construction and real estate | 0.65 | |
37 | Bank of East Asia | Finances | 0.65 | |
38 | Bank of Communications | Finances | 0.64 | |
39 | Sino land | property | 0.58 | |
40 | Want Want China | Internet services | 0.58 | |
41 | Mengniu Dairy | Consumer goods | 0.55 | |
42 | Lenovo | electronics | 0.50 | |
43 | Hang Lung Properties | property | 0.47 | |
44 | Belle International | Consumer goods | 0.46 | |
45 | China Merchants Holdings International | Logistics and chemistry | 0.59 | |
46 | China Resources Power | Supplier | 0.33 | |
47 | Li & Fung | Consumer goods | 0.33 | |
48 | Kunlun Energy | oil and gas | 0.31 | |
49 | Tingyi ( eng ) | Consumer goods | 0.21 | |
50 | Cathay Pacific | Airlines | 0.20 |
See also
Web links
Individual evidence
- ↑ a b c d Hang Seng Index. (PDF; 2 MB) Factsheet. Hang Seng Indexes Company, June 7, 2018, accessed July 6, 2018 .
- ↑ Hang Seng Indexes. Hang Seng Indexes Company, accessed July 16, 2018 .
- ↑ HSI Services Limited: Calculation ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ^ Neue Zürcher Zeitung: The stock market crash of 1987 - a shock for the trading systems of the time , from October 13, 2007
- ↑ a b c d Stooq: Historical prices since 1969
- ^ A b Yahoo: Historical prices since 1986
- ↑ a b Hong Kong Exchanges and Clearing: HKEx Fact Book
- ↑ China Value: Data of Hang Seng Index, 1965-1994
- ↑ 1Stock1: Hang Seng Index (Hong Kong) Yearly Returns