Stock Challenge 2008 Are you ready???.

Presentation on theme: "Stock Challenge 2008 Are you ready???."— Presentation transcript:

1 Stock Challenge 2008 Are you ready???

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4 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

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

6 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 )

7 Hang Seng Index (HIS)

8 Stock Market Stock: Blue Chips Red Chips (H-share) Derivatives
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

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

10 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

11 YAHOO 新聞 From: 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。

12 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: 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！

13 匯豐控股有限公司 (0005.HK) 買入: 123.600 P/E (ttm): 11.36 賣出: 123.700 市值: 1.43 T
買入: 賣出: 昨日收市 : 開市: 成交量: 39,536,808 今日波幅: 52週波幅: P/E (ttm): 市值: T 每股盈利 (ttm): 10.88 股息及溢利: From:

14 Tools for Analysis Annual Report News report Announcements
Comments from financial analysts

15 匯豐控股有限公司 (0005.HK) (Annual Report – Financial Analysis)
From:

16 匯豐控股有限公司 (0005.HK) (Annual Report – Basic information)
From:

17 匯豐控股有限公司 (0005.HK) (Annual Report – future trends)
From:

18 匯豐控股有限公司 (0005.HK) (Announcements)
From:

19 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

20 References Hong Kong Exchanges and Clearing Ltd. Glossary Yahoo
Glossary Yahoo