SSE Composite Index

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SSE Composite Index
base data
Country People's Republic of China
Stock exchange Shanghai Stock Exchange
ISIN CNM000000019
WKN not known
symbol SSEC
RIC ^ SSEC
Bloomberg code SHCOMP <INDEX>
category Stock index
Type Price index
family SSE indices

The SSE Composite Index ( Shanghai Stock Exchange Composite Index, also Shanghai Composite for short ) is the most important share index in China excluding Hong Kong . He is an after market capitalization weighted price index and includes all companies listed on the Shanghai Stock Exchange stock companies .

The index (like the CSI 300 ) is published by the China Securities Index Company . It was first published on July 15, 1991 and was calculated back to December 19, 1990 (base value = 100).

composition

All 1,500 companies on the Shanghai Stock Exchange are listed in the SSE Composite Index, both with their A and B shares . A shares are shares that are traded in Renminbi , the currency of the People's Republic of China. Originally, these shares could only be acquired by Chinese citizens, but since 2002 they have also been available for so-called QFII (Qualified Foreign Institutional Investors). B shares are traded in foreign currency. Their face value is in Renminbi, but they are traded in US dollars in Shanghai . B shares are only available to foreign investors and, since 2001, to Chinese citizens opening accounts for foreigners (especially overseas Chinese ). A company can issue both A and B shares. However, since no arbitrage transactions are allowed between the types of shares, the value of the two shares may differ significantly.

Companies in the financial sector have the highest weight in the index (32%), followed by industrial companies (16%). The largest individual stocks at 4 to 5% each are the Industrial and Commercial Bank of China and the oil company Petro China .

calculation

The index is determined on the basis of share prices in the renminbi (CNY) currency and only adjusted for income from subscription rights and special payments. The weighting is based on the total market capitalization of the listed companies. Corporate actions such as stock splits have no (distorting) influence on the index.

The calculation is made during trading hours from 09:30 a.m. to 11:30 a.m. local time ( UTC + 8 , 02:30 a.m. to 04:30 a.m. CET ) and from 1:00 p.m. to 3:00 p.m. local time (06:00 a.m. until 8:00 a.m. CET) updated every second.

history

20th century

SSE Composite Index 1990-2015

In 1992, the State Council approved Deng Xiaoping's desired expansion of the stock market experiments. The administratively imposed limits of five percent price change per day on the Shanghai Stock Exchange have been lifted. On May 21, 1992, the Shanghai Composite achieved the highest daily gain in history with 105.27 percent. By May 25, 1992, the index rose to 1,421.57 points. Since December 19, 1990 (closing score 99.98 points), the profit has been 1,321.9 percent.

In the summer and autumn of 1992, the leading Chinese index lost 71.9 percent of its value. On November 19, 1992, it ended trading at 398.95 points. The high volume of share issues overwhelmed the market's absorption capacity. Small investors withdrew from the market. In the winter of 1992/1993 the index rose rapidly. The central bank allowed closed-end mutual funds. The stock exchange turnover skyrocketed and the price manipulation increased. On February 15, 1993, the SSE Composite Index stood at 1,536.82 points. The profit since November 1992 is 285.2 percent.

By July 29, 1994, the Shanghai Composite had dropped to 333.92 points, down 78.3 percent since February 1993. The supervisory bodies took action against securities fraud and price manipulation in 1994 with decrees and penalties. The government intervened to “save the market”. Raising capital for securities trading companies has been made easier. In 1996, state support for the securities market was affirmed at the highest political level and in the 9th Five-Year Plan, and investor confidence was strengthened. In the following years the index rose again strongly.

21st century

On June 13, 2001, the leading Chinese index closed at 2,242.42 points. The profit since July 1994 is 571.5 percent. After the speculative bubble in the technology sector ( dot-com bubble ) burst , the index fell to a low of 1,011.50 points by July 11, 2005. That was a decrease of 54.9 percent since June 2001. July 11, 2005 marked the end of the downward trend. From summer 2005 the SSE Composite was on the way up again. On February 26, 2007 it closed over 3,000 points for the first time. The following day it fell by 8.84 percent to 2,771.79 points. On August 23, 2007, the index passed the 5,000 mark for the first time. On October 16, 2007, the Shanghai Composite reached an all-time high with a closing level of 6,092.06 points.

The rapid development of the index since July 2005 was already the signal of overheating for many stock exchange experts. The "bubble" was partly driven by many private investors who invested even the smallest amounts (often also financed by loans). In the course of the international financial crisis , which had its origin in the US real estate crisis in the summer of 2007, the SSE Composite began to decline again. On February 19, 2008, the index suffered the highest daily loss in its history at 16.74 percent. The index hit a new low on November 4, 2008, when it ended trading at 1,706.70 points. This corresponds to a decrease of 72.0 percent since October 16, 2007.

November 4th, 2008 marks the turning point of the downward trend. From autumn 2008 the Shanghai Composite was on the way up again. By April 14, 2010, it rose by 85.5 percent to a closing level of 3,166.18 points. The euro crisis from 2010 and the weakening of the global economy from 2011 led to a slump in the Chinese benchmark index. On December 3, 2012, the SSE Composite ended trading at 1,959.77 points. The loss since the peak on April 14, 2010 is 38.1 percent.

Highs

The overview shows the all-time highs of the SSE Composite Index.

  Points date
in the course of trading 6,124.04 Tuesday October 16, 2007
on a closing price basis 6,092.06 Tuesday October 16, 2007

Milestones

The table shows the milestones of the SSE Composite Index since 1990.

First
close
over 		Final
score in points 		date
100 104.39 December 20, 1990
500 506.53 May 12, 1992
1,000 1,266.49 May 21, 1992
1,500 1,536.82 February 15, 1993
2,000 2,012.32 July 26, 2000
2,500 2,567.59 December 28, 2006
3,000 3,040.60 February 26, 2007
3,500 3,531.03 April 12, 2007
4,000 4,013.09 May 9, 2007
4,500 4,560.77 August 3, 2007
5,000 5,032.49 August 23, 2007
5,500 5,552.30 September 28, 2007
6,000 6,030.09 October 15, 2007

The best days

The table shows the best days of the SSE Composite Index since 1990.

rank date Final
score in points 		Change
in points 		Change
in%
1 May 21, 1992 1,266.49 649.50 105.27
2 0Aug 1, 1994 445.64 111.72 33.46
3 May 18, 1995 763.51 180.62 30.99
4th Nov 25, 1992 571.63 131.59 29.90
5 Feb 18, 2008 5,601.78 1,104.65 24.56
6th 0Aug 5, 1994 683.04 120.27 21.37
7th 0Aug 3, 1994 522.98 90.37 20.89
8th Aug 10, 1994 739.66 118.08 19.00
9 02nd June 1993 1,081.20 152.62 16.44
10 Dec 11, 1992 722.28 97.05 15.52
11 Nov 30, 1992 724.60 86.93 13.63
12 Nov 27, 1992 637.67 75.66 13.46
13 05th Sep 1994 940.61 110.43 13.30
14th 0Apr 8, 1993 1,238.87 139.25 12.66
15th July 24, 1992 1,142.02 127.45 12.56
16 May 19, 1995 855.81 92.30 12.09
17th Sep 11 1992 776.29 83.51 12.05
18th 0December 3, 1992 808.20 86.00 11.91
19th 0Apr 6, 1993 1,059.62 111.75 11.79
20th 0Oct 7, 1994 738.03 77.53 11.74
21st Feb 25, 1993 1,410.36 145.40 11.49
22nd Oct. 24, 1994 785.85 73.14 10.20
23 Oct. 20, 1994 718.99 66.10 10.12
24 26th Mar 1993 1,039.76 94.34 9.98
25th 14 Mar 1994 788.42 71.04 9.90
26th Jan. 11, 1993 977.42 87.95 9.89
27 Feb 22, 1995 594.64 53.50 9.89
28 Oct 23, 2001 1,670.56 149.89 9.86
29 0Dec 2, 1996 1,134.52 101.58 9.83
30th 19 Sep 2008 2,075.09 179.25 9.46
31 Aug 17, 1992 939.46 81.08 9.45
32 Apr 24, 2008 3,583.03 304.70 9.29
33 June 24, 2002 1,707.31 144.59 9.25
34 July 30, 1993 881.07 74.40 9.22
35 Feb 14, 2000 1,673.94 138.95 9.05
36 0March 8 1993 1,209.65 100.11 9.02
37 Sep 10 1992 692.78 57.04 8.97
38 Aug 13, 1992 850.94 69.73 8.93
39 04th Mar 1996 601.98 49.04 8.87
40 Apr 26, 1996 707.61 54.94 8.42
41 0June 8, 2005 1,115.58 84.64 8.21
42 0Feb 4, 2008 4,672.17 351.40 8.13
43 Aug 16, 1993 1,023.87 76.61 8.09
44 Apr 21, 1994 582.43 42.19 7.81
45 Apr 13, 1993 1,297.36 93.82 7.80
46 22 Sep 2008 2,236.41 161.32 7.77
47 Aug 20, 2008 2,523.28 178.81 7.63
48 0Aug 4, 1994 562.77 39.79 7.61
49 Feb 19, 1997 962.69 67.84 7.58
50 Dec 18, 1996 972.73 67.15 7.42

The worst days

The table shows the worst days of the SSE Composite Index since 1990.

rank date Final
score in points 		Change
in points 		Change
in%
1 Feb 19, 2008 4,664.29 −937.49 −16.74
2 May 23, 1995 750.30 −147.12 −16.39
3 Dec 20, 1993 783.79 −117.91 −13.08
4th 0Aug 9, 1994 621.58 −90.22 −12.67
5 22 Mar 1993 1,036.92 −138.07 −11.75
6th Oct 27, 1992 450.28 −56.66 −11.18
7th 0Oct 5, 1994 706.42 −84.73 −10.71
8th Oct 13, 1994 635.38 -75.63 −10.64
9 01st Mar 1993 1,199.73 −140.15 −10.46
10 Aug 11, 1992 863.41 −100.68 −10.44
11 May 24, 1993 1,026.13 −117.84 −10.30
12 0Dec 9, 1992 676.45 −77.49 −10.28
13 Dec 16, 1996 1,000.02 −110.02 −9.91
14th Aug 12, 1992 781.21 −82.20 −9.52
15th Dec 17, 1996 905.58 −94.44 −9.44
16 Oct 26, 1992 506.94 −52.79 −9.43
17th 08 Sep 1992 640.12 −62.71 −8.92
18th Feb 18, 1997 894.85 −87.56 −8.91
19th Feb. 27, 2007 2,771.79 −268.81 −8.84
20th May 22, 1997 1,235.22 −119.66 −8.83
21st May 26, 1992 1,301.35 −120.22 −8.46
22nd July 28, 1994 339.81 −31.29 −8.43
23 Aug 17, 1998 1,070.41 −97.62 −8.36
24 May 27, 1992 1,193.17 −108.18 −8.31
25th 0June 4, 2007 3,670.40 −330.34 −8.26
26th 0May 4th 1993 1,241.16 −111.08 −8.21
27 29 Sep 1994 839.37 −73.01 −8.00
28 Oct 22, 1992 539.80 −45.90 −7.84
29 Oct 26, 1994 686.31 −58.21 −7.82
30th Apr 30, 1996 681.16 −57.46 −7.78
31 June 10, 2008 3,072.33 −257.34 −7.73
32 0July 1, 1999 1,560.79 −128.64 −7.61
33 Dec 10, 1992 625.23 −51.22 −7.57
34 Feb. 24, 1993 1,264.96 −102.40 −7.49
35 Nov 21, 1996 940.77 −74.15 −7.31
36 0Sep 7 1994 931.57 −73.35 −7.30
37 Dec. 19, 1996 902.42 -70.31 −7.23
38 Jan. 22, 2008 4,559.75 −354.69 −7.22
39 Jan. 28, 2008 4,419.29 −342.40 −7.19
40 03rd June 1992 1,059.07 −81.95 −7.18
41 May 16, 1997 1,315.92 −101.75 −7.18
42 Oct 17, 1994 616.34 −47.41 −7.14
43 0Nov 4, 1994 666.77 −50.59 −7.05
44 Aug 11, 1994 689.31 −50.35 −6.81
45 22 Sep 1997 1,103.97 −80.55 −6.80
46 Aug 31, 2009 2,667.75 −192.94 −6.75
47 0Sep 7 1992 702.83 −50.75 −6.73
48 0May 6, 1993 1,162.92 −83.9 −6.73
49 29 Mar 1993 970.45 -69.31 −6.67
50 Nov 10, 1992 400.53 −28.08 −6.55

Annual development

The table shows the annual development of the SSE Composite Index since 1990.

year Final
score in points 		Change
in points 		Change
in%
1990 127.61
1991 292.75 165.14 129.41
1992 780.39 487.64 166.57
1993 833.80 53.41 6.84
1994 647.87 −185.93 −22.30
1995 555.28 −92.59 −14.29
1996 917.02 361.74 65.15
1997 1,194.10 277.08 30.22
1998 1,146.70 −43.39 −3.97
1999 1,366.58 219.88 19.18
2000 2,073.48 706.90 51.73
2001 1,645.97 −427.51 −20.62
2002 1,357.65 −288.32 −17.52
2003 1,497.04 139.39 10.27
2004 1,266.50 −230.55 −15.40
2005 1,161.05 −105.44 −8.33
2006 2,675.47 1,514.42 130.43
2007 5,261.56 2,586.09 96.66
2008 1,820.81 −3,440.75 -65.39
2009 3,277.14 1,456.33 79.98
2010 2,808.08 −469.06 −14.31
2011 2,199.42 −608.66 −21.68
2012 2,269.13 69.71 3.17
2013 2,115.98 −153.15 −6.75
2014 3,234.68 1,118.70 52.87
2015 3,539.18 304.50 9.41
2016 3,103.64 −435.54 −12.31
2017 3,307.17 203.53 6.56
2018 2,493.90 −813.27 −24.59
2019 3,050.12 556.22 22.30

See also

Web links

Individual evidence

  1. ↑ a b c SSE Composite fact sheet. China Securities Index, June 2018, accessed July 12, 2018 .
  2. ↑ Introduction of SSE Indices. Shanghai Stock Exchange, accessed July 6, 2018 .
  3. ↑ Reuters: TIMELINE-China's intervention in the stock market , July 8, 2010
  4. ↑ a b c d e Stooq: Historical prices from 1990
  5. ↑ a b Yahoo: Historical prices from 2000
  6. ↑ 1Stock1: SSE Composite Index (China) Yearly Returns