The Hang Seng Index (HSI) is an equity index that tracks the performance of listed companies operating in the wholesale, retail, and production sectors of the Hong Kong economy. It was first published on 3 October 1966, with a base value of 100. The HSI is one of several indices commonly used to measure the performance of the Hong Kong stock market. Its rival indices are Hang Seng China A-Shares Index and Hang Seng China Enterprises Index. There are nine constituents in the HSIs Primary List, which measures the combined performance of all listed companies on both primary and secondary markets that meet certain criteria. The Secondary List has 17 constituents that meet different liquidity criteria than those listed on the Primary List. Companies listed on both lists are eligible to be included in either or both sub-indices; however, they cannot be included in more than one sub-index at any given time. There can only be one “primary” listing per company at any given time if a company is added to another sub-index.
How is the HSI calculated?
The HSI is calculated using a combination of the share prices of 15 representative companies listed on the two indices (Primary and Secondary.) The 15 companies are determined by applying different weightings to certain shares based on their market capitalization, economic sector, and their exchange listing status. For example, in the Primary List, the following companies have the highest weightings.
HSI Calculation Methodology
The HSI is calculated by dividing the sum of the prices of these 15 companies’ shares by a “basis” (or denominator). Each index has its basis, which is calculated by dividing the sum of the total shares by the number of companies listed on the respective index. The number of companies on the Primary List can change over time as companies may be removed or added to the index. The following table shows a detailed breakdown of the Primary List basis and how it is calculated.
HSI Closing Values
The HSI closing value is the average of the daily sums of the selected share prices over one month. This period is referred to as the “index-calculation period.” Each index-calculation period begins on the third Friday of the month and ends on the second Friday of the following month. For example, the data used to calculate the closing values for the HSI on 15 June 2019 was collected between 14 May 2019 and 15 June 2019.
Hang Seng Index Constituent Companies
The Primary List is made up of nine companies: These nine companies represent a diverse range of industries and account for approximately two-thirds of the total market capitalization of all stocks listed on the Hong Kong Stock Exchange. The Secondary List is made up of 17 companies: These 17 companies are selected based on their relative levels of liquidity and are mainly made up of “blue-chip” stocks. They account for approximately one-third of the total market capitalization of all stocks listed on the Hong Kong Stock Exchange.
Hong Kong Hang Seng Composite Index
The HSI is an index that tracks the performance of 17 companies listed on the Primary List. The HSI itself is not traded on the stock market like individual security. The HSI is calculated by dividing the sum of the prices of these 17 companies’ shares by a “basis,” which is calculated by dividing the sum of the total shares by the number of companies listed on the respective index. The HSI is a sub-index of the Hang Seng Composite Index, or HSCI. The HSCI represents a broader market than the HSI by including the companies listed on both the Primary and Secondary Lists. The HSCI is calculated in the same way as the HSI using the “same basis.” However, the HSCI uses the combined share price of all listed companies on both indices. Unlike the HSI, the HSCI is actual security listed on the Stock Exchange of Hong Kong.
Hang Seng China Enterprises Index and China A-Shares Index
The HSI and HSCI are not the only indices used to measure the performance of the Hong Kong stock market. Other indices are calculated differently from the HSI and HSCI. These indices include the Hang Seng China Enterprises Index (HSCEI) and the Hang Seng China A-Shares Index (HSCHI). The HSCEI tracks the combined performance of companies listed on the Shanghai and Shenzhen Stock Exchanges. It is calculated by dividing the sum of the share prices of these companies by a “basis,” which is calculated by dividing the total shares by the number of companies listed on the respective index. The HSCHI is an index that tracks the performance of A-share companies listed on the Shanghai Stock Exchange. It is calculated in the same way as the HSCEI and uses the same “basis.”
Differences between the HSIs and other indices
The HSI and HSCI are indices that are calculated in the same way but use different bases. Each index has a different basis because each has a different number of constituent companies that are listed on different exchanges. Therefore, the shares of each company account for a different percentage of each index. The HSCEI and HSCHI, by contrast, have the same number of constituent companies listed on each exchange, and so have the same bases. The only difference is that they track the performance of companies listed on different exchanges.
Trade with a Trusted Broker
To trade stocks using the HSI, you will need to open a trading account with a trusted broker. You can find a reputable broker through online research or by asking friends or family members who they use. You can use our broker comparison tool to search for a broker that best suits your trading needs. It’s important to find a broker with low trading costs and a wide selection of markets to trade. Once you’ve found a broker, you can use our step-by-step guide to help you open a trading account and start trading stocks.
Conclusion
The HSI is made up of nine companies listed on the two indices that represent a diverse range of industries. It is important to note that the HSI is not an individual security like the HSCI. The HSI is an index that represents the performance of the Primary List of companies listed on the two indices. The HSCI, by contrast, represents the performance of the Primary and Secondary Lists. When trading stocks using the HSI, it’s important to remember that it is calculated using a different basis than the HSCI. The HSI is calculated using the combined share prices of all listed companies on both indices, while the HSCI uses the share prices of only the companies listed on the two indices. The HSI and HSCI are two indices that represent different segments of the Hong Kong stock market. They are calculated using different bases and have different numbers of constituents. By understanding how these indices are calculated, you can make more informed trading decisions.
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