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:

${\displaystyle {\textrm {Hang~Seng~Index}}={\frac {\sum {\textrm {[}}{\textrm {P(t)}}\times {\textrm {IS}}\times {\textrm {FAF}}\times {\textrm {CF}}{\textrm {]}}}{\sum {\textrm {[}}{\textrm {P(t-1)}}\times {\textrm {IS}}\times {\textrm {FAF}}\times {\textrm {CF}}{\textrm {]}}}}\times {\textrm {Schlussstand~vom~Vortag}}.}$

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

Hang Seng Index 1969–2012

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

Hang Seng Index display board on October 1, 2007 at the Luk Hoi Tong Building in Hong Kong

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.

First close over Final score in points date 100 100.00 July 31, 1964 1,000 1,098.86 2nd February 1973 2,000 2,008.30 September 24, 1986 3,000 3,023.60 4th June 1987 4,000 4,009.35 July 19, 1991 5,000 5,005.96 March 11, 1992 6,000 6,052.08 May 26, 1992 7,000 7,002.60 May 12, 1993 8,000 8,041.57 October 6, 1993 9,000 9,031.13 October 18, 1993 10,000 10,228.11 December 10, 1993 11,000 11,039.84 December 24, 1993 12,000 12,086.49 January 3, 1994 13,000 13,004.80 November 14, 1996 14,000 14,153.58 May 14, 1997 15,000 15,154.36 June 20, 1997

First close over Final score in points date 16,000 16,365.71 July 31, 1997 17,000 17,369.63 January 3, 2000 18,000 18,292.86 March 27, 2000 19,000 19,093.00 November 15, 2006 20,000 20,001.91 December 28, 2006 21,000 21,017.05 June 15, 2007 22,000 22,151.14 July 3, 2007 23,000 23,099.29 July 13, 2007 24,000 24,069.17 September 5, 2007 25,000 25,554.64 September 19, 2007 26,000 26,551.94 September 24, 2007 27,000 27,065.15 September 27, 2007 28,000 28,199.75 October 2, 2007 29,000 29,133.02 October 11, 2007 30,000 30,405.22 October 26, 2007 31,000 31,586.90 October 29, 2007

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	0Feb 9, 1973	1,449.91	182.65	14.41
3	Oct 27, 2008	12,596.29	1,580.45	14.35
4th	0Feb. 2, 1998	10,578.60	1,326.24	14.33
5	Nov. 27, 1974	185.17	21.82	13.36
6th	0Feb. 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	0Feb 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	0Apr 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	0Dec 8, 2008	15,044.87	1,198.78	8.66
24	0May 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	0Aug 2, 1984	893.70	67.00	8.10
30th	0Oct 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	0Sep 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	0Nov 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	0Apr 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	0Oct 8, 1981	1,266.52	86.69	7.35
44	0May 1st 1973	788.48	53.65	7.30
45	July 16, 1973	539.18	36.41	7.24
46	0Oct 9, 1998	8,506.79	567.28	7.15
47	03rd Sep 1997	14,713.99	978.66	7.13
48	Dec 15, 1980	1,307.38	85.22	6.97
49	0Nov 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	0June 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	0Oct. 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	0Apr 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	0May 8, 1973	689.92	−61.59	−8.20
27	0Oct 8, 2008	15,431.73	−1,372.03	−8.17
28	19 Sep 1983	842.20	−73.90	−8.07
29	0December 3, 1992	4,978.21	−433.44	−8.01
30th	28 Sep 1981	1,245.26	−105.75	−7.83
31	0Apr 9, 1973	924.50	−77.17	−7.70
32	0June 8, 1983	867.04	−71.83	−7.65
33	23 Sep 1983	784.50	−64.60	−7.61
34	0July 9, 1973	533.74	−43.36	−7.51
35	0Aug 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	0Jan 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	0Nov 6, 2008	13,790.04	−1,050.12	−7.08
43	25th Mar 1975	250.29	−19.00	−7.06
44	0Oct. 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

• Hang Seng China Enterprises Index
• SSE Composite Index

Web links

• Index on the Hong Kong Stock Exchange
• Index at Hang Seng Indexes
• Index at Bloomberg

Individual evidence

1. ↑ ^{a b c d} Hang Seng Index. (PDF; 2 MB) Factsheet. Hang Seng Indexes Company, June 7, 2018, accessed July 6, 2018 . 
2. ↑ Hang Seng Indexes. Hang Seng Indexes Company, accessed July 16, 2018 . 
3. ↑ 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.  
4. ^ Neue Zürcher Zeitung: The stock market crash of 1987 - a shock for the trading systems of the time , from October 13, 2007
5. ↑ ^{a b c d} Stooq: Historical prices since 1969
6. ^ ^{A b} Yahoo: Historical prices since 1986
7. ↑ ^{a b} Hong Kong Exchanges and Clearing: HKEx Fact Book
8. ↑ China Value: Data of Hang Seng Index, 1965-1994
9. ↑ 1Stock1: Hang Seng Index (Hong Kong) Yearly Returns