2019年4月18日 星期四

零基礎學投資(貳) -- 上市公司股票投資

零基礎學投資(貳) -- 上市公司股票投資

近代公司股票歷史:-

股票制度,起源於1596年的荷蘭東印度公司。當時該公司經營航海事業。它在每次出海前向人集資,航程完成後即將各人的出資以及該航次的利潤交還給出資者。這就是「股東」和「配息」的前身。

香港股票市場簡史:-

香港證券交易所成立於1891年成立,讓香港得以擁有正式的股票交易市場。1986年4月四會合併,組成現時香港聯合交易所(聯交所)。而大家所知的香港交易所(港交所),則於2000年由香港聯合交易所、香港期貨交易所及香港中央結算有限公司合併而成。港交所設有兩個交易板塊—主板與創業板。

當一家公司需要更多資金來擴大規模, 它還可以透過增發股票引入新股東或上市,向公司股票投資者(股東)集資,投資者買入股票,等同出資給公司做生意,公司若有盈利,會向股東發放利息(即股息)作為回報,股東也可透過出售股票賺取股票差價。

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。

如果買不起一手,又不想因儲錢而錯過入市時機(股票市場熊市末端至牛市一期),可以選擇月供方式買入股票:-就是定期定額買入股票。

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。

以下是8個較為基本股票的名詞術語初學股票投資者需要認識。

常用名詞解釋
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。
3.市賬率公司股票的市賬率=每股市價除每股淨資產, 例如一間公司股票市賬率等於0.8,代表投資者可以以$0.80元換取企業每1元的淨資產。
4.股息率股息率等於每股派息除每股股價乘100%,以股息率5%為例,投資者用100元買入一間公司股票,投資者在除淨後派息日會收5元。
5.除淨日確定股東身份的日子,投資者必須在這日前買入股票才有股息收。
6.供股供股是公司上市後集資的手法之一,以2009年3-4月匯控每12股供5股為例 ,即原有12股再增發5股,讓股本增倍,所有股東都會有供股權,在指定期間內行使,股東可以選擇賣出供股權,也可以行使供股權,即以折讓股價$28(比市場價低)買入更多股票,若不行使,供股權會變無效,股東權益會比攤薄(企業盈利和資產會比其他增加股份分薄)。
7.合股合股是企業減少股本和股數的手法,如1合1,即原有1股和令1股二合為一股,股價即時上升一倍。
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:-

Common termsExplanation
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 yieldDividend 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 DateEx-dividend describes a stock that is trading without the value of the next dividend payment.
6.Right issueA 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 splitreverse 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 splitA 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.

一.本網頁屬個人網誌,為網主作為記事之用,並非提供投資建議。 1. This is a personal blog page for recording and cannot regard as investment advice.

二.本網頁部分內容可能會提及個別投資項目,請注意,一切言論並不構成要約、招攬或邀請、誘使、任何不論種類或形式之申述或訂立任何建議及推薦,讀者務請運用個人獨立思考能力自行作出投資決定,如因相關言論招致損失,概與本人無涉。 2. This page may mention individual investment option, please be attention the content does not invite, suggest or recommend reader to make certain kinds of investment. Readers need to make investment decision themselve. The blog writer does not responsible to any loss incur after reading this blog passage.

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6 則留言:

  1. 謝謝,市盈率叫市價盈利率的確較為貼切。或者把一只股票用哂以上 terms 說明會易明。加埋除淨例子又唔錯😸💪

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  2. 荷蘭人都幾前衛,1596年,即明朝萬歷二十四年

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    1. 是, 中國的股票應好似在清代後期才開始有

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  3. 嗯,又學到一些, 謝謝您!!!

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    1. 投資任何東西之前, 先了解;後投資才比較好

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