Beijing time on June 1, after closing through be being entered 5 years, a bring into MSCI index formally, this is a historical hour that is worth engrave. Evaluate first from 2014, to 2016 successive the 3rd year defer is brought into, evaluate to 2017 again through and formal 2018 go into effect, MSCI brings into Chinese A position change, map is worn Chinese money market is in open to the outside world to the abidance of the respect promotes and be perfected. And the exponential provider that has force quite as the whole world, ming Cheng MSCI is in evaluate Chinese A the major of the respect and rigorous, also reflected what Chinese money market opens to the outside world to contain Troy.
What is MSCI index?
MSCI English full name is MorganStanleyCapitalInternational, magenshidanli capital international company (MSCI) (interpret Ming Cheng [Sh è Ng] ) , it is company of the United States' well-known exponential work out.
Capital international company established Magenshidanli 1968, it is first whole world fiducial supplier, point to the offer person of several data and company information. It released index of developed country series 1969; 1987, index of rising market series; 1995, all countries fasten an index; 1999, euro index; 2000, china and golden dragon index, these are MSCI indexes.
Develop ceaselessly and expand of security market as burgeoning country, it begins to abound its exponential work out, in May 2001 MSCI announces, with freedom current an index of work out of method of several weight calculation, what this we should join is MSCI index of rising market series.
Before 3 " enter close " why to all announce failure?
A the time that tries to join the process of MSCI index series to already had 4 years.
2013, a first selected MSCI " upgrade potentially the list that the market observes " , but in June 2014, MSCI is announced, of short duration not A bring into its rising market index, had A enter the experience that passes burgeoning index to lose first;
2015, a once more open is entered close mode, but regretful is, MSCI once more A close the door on;
On June 15, 2016, company of MSCI Ming Cheng announces, defer A bring into index of MSCI rising market.
Why be eager to joining MSCI?
Above all, this is A a way that moves toward international, in addition a bit more important are, MSCI index backside has passivity of many ETF index fund to dog:
1) client of orgnaization of MSCI whole world makes an appointment with 7500, include fund of large provide for the aged, to pouring fund, asset runs a company, investment bank, the commercial bank.
2) estimate according to MSCI, in North America and Asia, the asset of capital stock of orgnaization sex international of more than 90% is mark with MSCI index.
3) at present the asset dimensions with what MSCI index is mark exceeds the whole world 9 trillion dollar, add up to the fund that has 1.5 trillion dollar is with index of MSCI rising market fiducial.
4) according to Peng Bo, dog directly at present the index of MSCI China index and fair collect fund have 49, dimensions is aggregate more than 14 billion dollar.
Although say, the hundreds of capital of 100 million to current A for system capacity, had lifted do not have how old storm. But the amount that the influence in mood and market confidence level spends fund more necessarily. And, as the development of field of A stock market, maturity will rise ceaselessly, the afflux of international capital also is met year after year increases.
"Enter rub " successful, does future affect geometry?
Short-term increment fund is limited, long-term increment capital is worth to expect
Bring into MSCI, to A the most immediate impact will have increment capital to enter namely. Bring into divide a level, june is the first phase, will bring into with 2.5% scale, add up to takes MSCI index the weight of 0.39% ; Next, on the foundation that evaluates a result in index of MSCI8 month quarter, of the 2nd phase bring into will be in on September 3 become effective, bring into scale general from 2.5% rise 5% , the A that finish bring into first.
Short-term nevertheless inside, to flowing into capital not too should hopeful. Dog above all the fund of MSCI is adjacent 90% for active model fund, a is bought after may shift to an earlier date or be being pushed, flow into what bring into a day to won't bring capital so considerably; And A at present odd-numbered days clinchs a deal the quantity is 400 billion the left and right sides, the circulating fund that the first phase brings is only 61 billion, can't be opposite A produce major effect.
Overseas financing basically is with QFII or harbor buy A, considering in last few years A after be being opened continuously, overseas financing configures A the quantity increases gradually, do not eliminate MSCI to bring into A hind the financing volume that flows into actually anticipates under the market.
And the regulation according to MACI and historical experience, passivity capital for as far as possible decrease to the index track an error, normally meeting choosing undertakes in the last day the storehouse is operated moving, that is to say the capital of passivity fund had flowed into A now. Must say, near future A steeped fall the entrance with perfect foreign capital is nodded.
Choose a preference from foreign capital, seek investment opportunity
A after bringing into index of MSCI rising market, those who be benefited basically is " slant finance, extensive is consumed " etc grail is blue chip. Branch line of business looks, finance and medicine two industries are MSCI love most, among them financial industry in all 50 stocks, biology medicine course of study in all 18 stocks, additionally adornment of estate, building and nonferrous metal have 13 shares each, these 5 industries are occupied than approaching an in part.
From bring into MSCI component in light of distributinging angle of current market prise, finance still is the first, occupy than 36.15% , after if the concept such as biology of food drink, medicine tightens therewith,consuming kind of concept, current market prise occupies score to be 8.39% , 6.43% , 3 industries always are occupied than exceeding 50% .
From bring into MSCI component in light of distributinging angle of current market prise, finance still is the first, occupy than 36.15% , after if the concept such as biology of food drink, medicine tightens therewith,consuming kind of concept, current market prise occupies score to be 8.39% , 6.43% , 3 industries always are occupied than exceeding 50% .
234 when MSCI brings into
Every arrive one year year end, each appear on the market greatly the annals of the company gives heat in succession. Each thumb mark, data is more random the flower confuses an eye, to investor, have an important data among them, that is every accrual. Actually, cash shedding is realer than every accrual basic and financial target.
Alleged the ratio of profit of the net after the duty that every accrual is a company and capital stock dimensions. The index of sex of a foundation that it is analytic stock value, it is to mirror a company integratedly to gain profit the main index of ability.
Normally, every accrual jumps over high company, the capability of gain is stronger, and the share price in the market is higher also, investor buys the stock of such companies to also want to pay higher price. This is the simplest truth, in the meantime, various financial steps are OK and logical the change that affects every earnings legally.
We know, although stock market is put in the uncertainty with various moves, but appear on the market the promotion of company outstanding achievement is from beginning to end choose an element importantly. Can say, share price is final it is to appear on the market the report of company outstanding achievement, the money that perhaps says we buy a stock to earn directly should be to come from appear on the market of the company, do not earn other investor, this is the essence of stockjobbing. This also is the evidence that every gains change is worth to consider.
Let us show the every earnings effect to share price through an example. Next watches are 2000 - 2005 year every accrual champion is in in those days share price expression:
1. 6 year of every accrual champion year go up on average be 45.76% , and on aggregate index has card only 0.02% , go up more than card aggregate index 45.74 percent.
2. champion of every accrual in 6 year makes money have 5 years, of be out of pocket have 1 year, also do not cross compensate 1.79% , what doesn't the profit that compares profitable time calculate really.
3. although the expression of every accrual champion differs somewhat in bovine city and Xiong Fu, but among them 5 years go up exceed an index.
Of course, this index has every accrual championship the imply of Zhu Geliang of bit of after the event, but evaluate and look into historical meaning is pair of future, an outstanding achievement the company with very strong capability of smooth, gain, deserve investor attention forever. Stability of successive and old outstanding achievement grows 30% , the company of 50% above is the most possible become an ox. Of course its accrual must be main area can be propped up and not be gains of blame management earnings.
Of course, if stock of some every accrual champion is on the history,had been bovine gas towering, so be about beware of its risk, share price is not to always go up not to fall, once the price does not have the motivation of promotion, become " a spent force " , so such stock is obtained very quickly the investor abandon of accrual, the prices that appears to be reduced considerably.
Additional, still need to notice at 2 o'clock: It is the main index that every accrual is ability of reflective company profit, but its can compare a gender poorer, cannot use at what differ to appear on the market of company, disparate industry appear on the market between the company quite; 2 it is every accrual is in appear on the market the company sends, match, issue new hind (include 2 times to issue) can be spread out thin, its are being used on should notice an analysis, its data undertakes the reuse after processing.
Every accrual champion is the directest and a very integrated financial index, but because of too too simple, see a simple ratio become only so without how many meaning. General, when studying this ratio, how is should paying close attention to every accrual further formed after all, say simply to nod, it is this company be to rely on what business to make money after all, at that time, be about to use another index ready money to flow.
Cash shedding is realer than every accrual basic and financial target, it is deciding an enterprise promote decline live or die, it is the lifeline of the enterprise. It is a company character actually the ready money that manages all sorts of business to obtain receives person net specified amount, the management behavior that basically comes from a company, investment and raise fund.
Shedding an analysis to appear on the market with cash company outstanding achievement when, investor can hold a principle, that goes two years namely inside, profit total should shed amount photograph correspondence with management sex cash, such ability explain the profit of this company is true.
The basic sense that every cash shedding is showing to the stock invests value respect and every earnings is same, different is cash shedding truer than every accrual, can reflect the management condition of a company more. And the basic principle that judges this differentia different is: Every earnings of a company is very good, but every cash shedding is very low and even for negative number, at this moment the meaning of every accrual appears so not important.
Anyhow, every cash income is an information content that investor should pay close attention to, but should combine other index to undertake integration analysis, in order to ensure the information that oneself master is more accurate.
The fund that investor buys a stock to earn should be to come from appear on the market of the company, do not earn other investor, this is the essence of stockjobbing; Cash shedding is realer than every accrual basic and financial target
