Shanghai Stock Exchange. Stock quotes of non-ferrous and precious metals

The Shanghai Stock Exchange (SSE) is one of two regularly operating and organized securities markets and derivative financial instruments in the People's Republic of China. The second trading floor is located in Shenzhen. The Shanghai Stock Exchange is the world's fifth largest securities market in terms of total capitalization. In May 2015, this figure was 5.5 trillion US dollars. Unlike the Hong Kong Stock Exchange, the Shanghai Stock Exchange is not completely open to foreign investors because of tight control over capital flows by the authorities of mainland China.

brief information

Consider the main parameters of this organized trading platform for securities:

• Type - stock exchange.
• The location is Shanghai, China.
• The foundation was in 1990, on November 26.
• Key figures are Jiang Liang (chairman), Zhang Yujun (president).
• The currency is the yuan (RMB).
• The number of listings is 1041 (according to the data for May 2015).
• The volume - 0,5 trillion US dollars (December 2009).
• Indicators - an index called SSE Composite and its derivatives.

Purpose and place

The Shanghai Stock Exchange was opened in 1990 and started working in three weeks. It is a non-profit organization, managed through the China Securities Regulatory Commission (CSRC). The Shanghai Stock Exchange provides secure interaction between financial entities and effective clearing. It is also an international analogue of inter-agency communication and cooperation. The Shanghai Stock Exchange is responsible for centralized clearing of foreign currency in the interbank market, including margin and collateral management, information and consulting management.

History of creation

The formation of the system of international settlements in Shanghai was the result of the Nanking agreement, concluded in 1842. It was his signing that ensured the end of the first opium war. The history of the securities market in China began in the late 1860's. During a boom in shares of mining companies, foreign businessmen founded the Shanghai Association of Exchange Brokers. In 1904, it was renamed the stock exchange. The offer of securities during that period was provided mainly by local companies. Since 1895, Japan and some other states that had contracts with China, have been given the right to establish their factories in Shanghai and other ports. Rubber plantations became the main product of exchange trade in the late 20th century.

By the end of the 1930s, Shanghai had become the financial center of the Far East, where Chinese and foreign investors could trade in stocks, government and corporate bonds and futures. The functioning of the exchange stopped sharply when the territory of the state was occupied by Japanese troops on December 8, 1941. However, five years later, it completely restored its activities. Three years later, the Shanghai Stock Exchange closed again due to the communist revolution in China. It opened only after 32 years. This was made possible by the cultural revolution and the coming to power of Deng Xiaoping. During the 1980s, China's securities market developed against the backdrop of economic reforms that signaled a gradual shift from a socialist to a market economy. In its current form, the Shanghai Stock Exchange began operating on December 19, 1990.

Structure

Securities traded on the Shanghai Stock Exchange are divided into three categories: bonds, stocks and cash funds. The first are treasury, corporate and convertible bonds. There are two types of shares: "A" and "B". The nominal value of the first is expressed in yuan, the second - in US dollars. Initially, shares of type "A" could be issued only by national firms. However, since December 2002 foreign investors were allowed to trade them, albeit with restrictions. In 2003, a program called "Qualified Foreign Institutional Investors" was launched. At the moment, 98 foreign entities are admitted, the quota for entering the market is 30 billion US dollars. There are plans to merge both types of shares in the future.

Operating mode

The Shanghai Stock Exchange operates from Monday to Friday. The morning session begins with a centralized price setting from 9:15 to 9:25. Bidding runs from 9:30 to 11:30 and from 13:00 to 15:00. The exchange is closed on Saturdays and Sundays, other days off are announced in advance. Among the main holidays are: International and Chinese New Year, Qingming Festival, Duane and Mid-Autumn, Labor Day, National Day.

Listing requirements

The rules for placing shares on the exchange are regulated in China by two laws: "On Securities" and "On Companies". The list of requirements for shares for listing includes the following items:

• Shares must be issued publicly after approval by the State Department for Securities Management.
• Their total face value should not be less than 30 million yuan.
• Over the past three years, the company must finish the fiscal year with a surplus. At the same time, the state can own no more than 75% of the shares (if the total face value exceeds $ 400 million, then 85% is allowed).
• The company should not engage in illegal activities or falsifying accounting records for the past three years.

Other conditions stipulated by the Council of State include the following restrictions:

• At the moment, China prefers domestic firms that want to place their shares on the stock exchange. Similar restrictions apply, for example, in India.
• Companies that deal with new technologies are approved separately by the State Council.

Shanghai Stock Exchange: Quotes

SSE Composite is the main indicator of the functioning of the Chinese securities market. Its calculation is carried out on the basis of a weighted composite Paasche price index . This means that the index of the Shanghai Stock Exchange is based on a certain day. Such a date is December 19, 1990. Based on the market capitalization of all shares on this day. The base value of the index is 100 points. It is calculated from July 15, 1991. The SSE Composite index is equal to the current market capitalization of all shares multiplied by the base value. The peak value was recorded on July 6, 2015 - 5166.35. The fall of the Shanghai Stock Exchange occurred soon after. Already in a month and a half, August 22, 2015, the figure was 3509.98 units. Stock quotes decreased by 1.5 times. Other important indices of the Shanghai stock exchange are SSE 50 and SSE 180. As of November 23, 2015, the indicator was 3610.31, compared to the previous day, stock quotes fell by 0.56 points.

The Shanghai Stock Exchange is one of two trading platforms for securities in China. The state continues to exercise careful control over it. Its conjuncture is assessed using the SSE Composite index, as well as a number of indicators based on it.