|
Base Day
3 stocks are selected as constituent stocks. The base period is the adjusted total market cap of 3 stocks on base day. The base index is 1000 points.
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
9000 |
9% |
9% |
9000 |
5 |
45000 |
B |
8000 |
3500 |
44% |
50% |
4000 |
9 |
36000 |
C |
5000 |
4100 |
82% |
100% |
5000 |
20 |
100000 |
|
|
|
|
|
|
|
|
181000 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
181000 |
8000 |
1000 |
1000 |
Day 1
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
9000 |
9% |
9% |
9000 |
5.1 |
45900 |
B |
8000 |
3500 |
44% |
50% |
4000 |
9.05 |
36200 |
C |
5000 |
4100 |
82% |
100% |
5000 |
19 |
95000 |
|
|
|
|
|
|
|
|
177100 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
177100 |
181000 |
1000 |
978.45 |
No adjustment is required.
Stock B distributes cash dividend: ￥0.50/share. Today is ex-dividend day. No adjustment is required.
Day 2
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
9000 |
9% |
9% |
9000 |
5.05 |
45450 |
B |
8000 |
3500 |
44% |
50% |
4000 |
9.1 |
36400 |
C |
5000 |
4100 |
82% |
100% |
5000 |
19.2 |
96000 |
|
|
|
|
|
|
|
|
177850 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
177850 |
181000 |
1000 |
982.60 |
Stock B is to be traded ex-bonus at the ratio of 10 for 10.
Stock C is to be traded ex-right at the ratio of 3 for 10 at ￥18/share.
Adjusted price for stock B is 9.1/(1+1)=￥4.55；adjusted price for stock C is (19.2+18×0.3)/(1+0.3)=￥18.923. Index adjustment is required.
Index Adjustment
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
9000 |
9% |
9% |
9000 |
5.05 |
45450 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.55 |
36400 |
C |
5000 |
4100 |
82% |
100% |
5000 |
18.923 |
94615 |
|
|
|
|
|
|
|
|
176465 |
Total Adjusted Market Cap before Adjustment (Yuan) |
Total Adjusted Market Cap after Adjustment (Yuan) |
Old Base Period |
New Base Period |
1 |
2 |
3 |
(3)×(2)/(1) |
177850 |
176465 |
18100 |
179590 |
Day 3
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
9000 |
9% |
9% |
9000 |
4.9 |
44100 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.5 |
36000 |
C |
5000 |
4100 |
82% |
100% |
5000 |
18.5 |
92500 |
|
|
|
|
|
|
|
|
172600 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
172600 |
19590 |
1000 |
961.08 |
Non-negotiable shares of stock A are going to be listed the next day. Negotiable shares will increase by 4000. Stock B is going to be suspended from trading the next day.
Index Adjustment
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
13000 |
13% |
20% |
20000 |
4.9 |
98000 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.5 |
36000 |
C |
5000 |
4100 |
82% |
100% |
5000 |
18.5 |
92500 |
|
|
|
|
|
|
|
|
226500 |
Total Adjusted Market Cap before Adjustment (Yuan) |
Total Adjusted Market Cap after Adjustment (Yuan) |
Old Base Period |
New Base Period |
1 |
2 |
3 |
(3)×(2)/(1) |
172600 |
226500 |
179590 |
235673 |
Day 4
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
100000 |
13000 |
13% |
20% |
20000 |
4.8 |
96000 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.5 |
36000 |
C |
5000 |
4100 |
82% |
100% |
5000 |
19.2 |
96000 |
|
|
|
|
|
|
|
|
228000 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
228000 |
235673 |
1000 |
967.44 |
Stock A is going to issue 8000 shares the next day. Right issue of stock C will be listed the next day. Stock B is to resume trading the next day.
Index Adjustment
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
108000 |
21000 |
19% |
20% |
21600 |
4.8 |
103680 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.5 |
36000 |
C |
6230 |
5330 |
82% |
100% |
6230 |
19.2 |
119616 |
|
|
|
|
|
|
|
|
259296 |
Total Adjusted Market Cap before Adjustment (Yuan) |
Total Adjusted Market Cap after Adjustment (Yuan) |
Old Base Period |
New Base Period |
1 |
2 |
3 |
(3)×(2)/(1) |
228000 |
259296 |
235673 |
268023 |
Day 5
Stock |
Total Market Cap |
Negotiable Market Cap |
Negotiable Market
Cap Ratio |
Weight |
Adjusted Shares |
Closing Price (Yuan) |
Adjusted Market Cap (Yuan) |
A |
108000 |
21000 |
19% |
20% |
21600 |
4.85 |
104760 |
B |
16000 |
7000 |
44% |
50% |
8000 |
4.6 |
36800 |
C |
6230 |
5330 |
82% |
100% |
6230 |
19.1 |
118993 |
|
|
|
|
|
|
|
|
260553 |
Index Calculation
Total Adjusted Market Cap (Yuan) |
Base Period |
Base Index |
Closing Index |
1 |
2 |
3 |
(3)×(1)/(2) |
260553 |
268023 |
1000 |
972.13 |
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