零基礎學投資(貳) -- 上市公司股票投資
香港股票市場，最少的購買單位是一手，例如在2019年4月18日接近收市時以$91.00 買入1手500股領展房地產信託基金, 投資成本為HKD$45,500; 證券商佣金(假設為0.25%):HKD$113.75; 中央結算及交割系統費用大約 HKD$2.00; 0.1%買入印花稅 HKD$45.50, 證監會徵費約0.0027%:HKD$1.23; 港交所交易徵費約0.005%:HKD$2.28, 所需總費用約為:-HKD$45,664.76。
初學上市公司股票投資可以由研究公用股和房地產信託基金開始, 原因是這兩類型公司業務較其他複雜的集團公司簡單, 而她們的財務報表也相對地簡單易讀, 初哥可以以鑽研這兩類型公司業務和年報作為投資入門。
|1.上市公司市值||上市公司在證券市場上的市場價格總值; 有關上市公司在相關證券市場上的收市價格乘其已發行的股份總數,例如一間公司收市價為$5.00; 該公司的已發行股數為1億股普通股, 該公司當天市值為5億元。|
|2.市價盈利率||即每股股價除該公司每股盈利如果某股票的市價為30 元，而過去一年的每股盈餘為 3 元，則市價盈利率為 30/3=10倍。|
|8.拆股||股票分割又稱股票拆細，即將一張較大面值的股票拆成幾張較小面值的股票。 例子:2014年3月: 騰訊控股1拆5。|
Learning investment from zero foundation(2): Listing company Shares Investment
Contemporary Company Shares History
In 1596, the Dutch East India Company, which issued shares to the public for the first time i to fund voyage expeditions and activities in Asia. After the voyage, the company return the capital contribute and profit to the fund contributor. It can be regarded as the initial type of "shareholders" and "dividend".
Hong Kong Stock Market brief History
Hong Kong Stock Exchange market was formally set up in 1891 when the Association of Stockbrokers in Hong Kong was established. In 1986, the former 4 stock exchange market unified into one. In 2000, The Stock Exchange, Futures Exchange and the Hong Kong Securities Clearing Company all became wholly owned subsidiaries of HKEx. HKEx has two boards- main board and GEM board.
When a company need more capital for growth, she can introduce new shareholders by issue new shares or public listing through fund raising from shareholders. Investors buy stock means they supply fund and do the business with the company together. If the company get profit, she may give shareholders dividend for return. Shareholders can sell shares to get profit from the price difference.
The minimum buying amount in the Hong Kong stock market is 1 lot, for instance, a investor buy 1 lot 500 shares 823.HK The Link REITs near the market closed price with HKD$91.00 on 18 April 2019, the buying consideration cost was HKD$HKD$45,500; brokerage fee(assume 0.25%):HKD$113.75; CCASS settlement fee was about HKD$2.00; 0.1% buying stamp duty HKD$45.50, SFC Transaction Levy around 0.0027%:HKD$1.23; HKEX trading fee around 0.005%:HKD$2.28, total settlement amount was:-HKD$45,664.76.
If an investor cannot afford to buy one lot for a share, he can consider to join the monthly stock saving plan (purchase fixed time and amount of stock) during the end of bear market to the early stage of bull market. This can help them not miss the opportunities in the suitable time.
Stock investor beginners can focus research and study Utility and REITs stocks in the market as their business is relative easy understand and their financial reports are comparatively not difficult to read and understand.
There are 8 terms stock investor beginners need to know:-
|1.Market capitalization||Total market value of a listing company = Market price X shares issued ,for example a listing company with market closed price $5.00 with one hundred million shares, market capitalization turns into five hundred million dollars.|
|2.Price earning ratio (PE ratio)||Unit share price $30/Unit share earning $3, PE equals to 10 times.|
|3.Price to book value (PB)||PB＝Unit share price /Unit share net assets, e.g.: PB=0.8 means investor can buy a company's 1 dollar net assets with only $0.80 pay out.|
|4.Dividend yield||Dividend yield equals to dividend/share price X 100%, an investor an get $5 out of $100 invest at 5% yield after Ex-Dividend Date.|
|5.Ex-Dividend Date||Ex-dividend describes a stock that is trading without the value of the next dividend payment.|
|6.Right issue||A rights offering (rights issue) is a group of rights offered to existing shareholders to purchase additional stock shares, known as subscription warrants, in proportion to their existing holdings. These are considered to be a type of option since it gives a company's stockholders the right, but not the obligation, to purchase additional shares in the company. During March -April 2009, HSBC(5.HK) raise fund by right issue 5 new shares for every 12 at $28.00.|
|7.reverse stock split||reverse split is a process by which shares of corporate stock are effectively merged to form a smaller number of proportionally more valuable shares.|
|8.Stock split||A stock split is a corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares. Although the number of shares outstanding increases by a specific multiple, the total dollar value of the shares remains the same compared to pre-split amounts. Example: March 2014: 700.HK Tencent 5-for-1.|
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