[转帖]转一篇今天Business Times的文章（气死你）－－海指6年新高的背后

神州六号 · 发表于 13-3-2006 12:17:00|来自：新加坡

以下是我在其他地方发的贴,转过这以供大家参考...
 
Simsci = Singapore Morgan Stanley Composite Index ...
 
Simsci is an index created by Morgan Stanley particularly for Singapore equity market. The component stocks of simsci are very similar (only slight difference) to those that we have for STI. However, the weightage of simsci component stocks are very different from those for STI. SGX Future Market (SGX-DT) does provide a trading opportunity for simsci future (期货), it is a bi-monthly contract (when you trade futures, you don't call them 'lots', you call them 'contracts') that expires on the second last day of the month and the settlement price is based on the opening spot price of simsci on the last day of the month. Hence, you can see volatility of simsci component stocks on the second last day of the month (always). To make it easier to understand, try to imagine these future contracts as warrants in the equity market. Similarly, all warrants have expiry date, assume these warrants are always issued on the first day of the month and expire on the following month. eg. simsci February 2006 contract was issued on 1st Jan 06 and expirted on 27 Feb 06 (yesterday, 2nd last day of the month). When if expires in Feb, we call it Feb contract. Hope the above can enlighten you on your doubts.

神州六号 · 发表于 13-3-2006 12:10:00|来自：新加坡

次文以偏概全。。。

作者忽略了海指成分股历年来发出的 Dividends, Rights Issues, Bonus Issues, Stock Splits (只提到 SPH), Warrants, Preferenc Shares 等等,这许多都是免费的. 而且,大部分都会影响股价.

比如, NOL 最近发了 90 分把资金还给了股东就没反应在此文中.

成分股为啥需要变动? 这原因有好多. 每天成交量是其一, 上星期三大东方保险退出海指而由 UTAC 代替就是此因. 成分股所在行业是其二,六年前科技股(还有.com)是领头羊,现在呢? Bio-science? 产业股复苏? 赌场相关股票? 利率回升带动银行股? 还有其三,其四,五.六,七...各种因素.

看了此文觉得作者根本是门外汉,只能说服对股市不太熟习的广大读者!!!

神州六号 · 发表于 13-3-2006 12:22:00|来自：新加坡

另外一则...

A brief summary of my understandings of STI...
 
The component stocks of STI basically indicate the leadership in their sector/ industry. eg. CityDev and HK Land are the leaders in property industry. However, they only represent the listed companies in the Singapore stock market and may or may not be the entire Singapore market. One good example is the biggest property company in Singapore is Far East Organistion who is not listed in the SGX. When most of the STI component stocks move up, you should see the broad stock market move in the same direction and vice versa. When the market is moving from sector to sector, you will not see much changes in the STI mainly because some sectors move up and others move down. Hence, there are some balancing in the STI. There are other indices in Singapore market that you should like at and not just STI which is only an index for blue chips listed with SGX. To help in your trading, one should look at other indices such as: UOB-sesdaq ==> 2nd liner All finance ==> finance sector All properties ==> property sector All Mfg ==> manufacturing sector etc. Besides these indices, the Simsci (Singapore Morgan Stanley Composite Index) sometimes gives a better feel of the market comparing with STI. Unfortunately, there is no one comes out with an All-China stock index,so far. Conclusion: STI gives you a broad market view and should not affect your decision (that much) in trading SGX stocks unless you are trading blue chips. The above is just my personal opinion of the STI and hope it helps you in one way or another. Cheers !!!

DIYer · 发表于 13-3-2006 14:24:00|来自：新加坡

以下是引用[I]jjxr[/I]在2006-3-12 10:06:00的发言： 其实这个文章的核心在于，STI是由一家大公司支撑着。一但Jardine系出问题，问题就大咯。

Jardine系五公司对STI的影响不是很大，下面是ardine系五公司在STI总的权重：
Jardine C&C0.74
DairyFarm US5.6c0.96
JSH US5c 5002.46
JMH US25c 4003.34
HK Land US10c4.54

Jardine系五公司在STI总的权重共计12.04%

再看看下面六个公司在STI总的权重:
SPH 20c4.32
SIA 50c4.75
OCBC Bk 50c9.46
SingTel 15c9.5
DBS Grp10.33
UOB11.33
六个公司在STI总的权重共计49.69%,
仅UOB一家就会赶上 Jardine系五公司，谁对指数影响大一目了然.

[此贴子已经被作者于2006-3-13 14:25:04编辑过]