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Data:2009-12-12 2:34
First, the characteristics of stock index futures
Overall, the stock index futures, including two features: First, the stock characteristics, two characteristics of the futures.
Features from the stock point of view, due to the impact spot and commodity spot index factors are the same two kinds of futures research methods are very different. In order to analyze the trend of commodity futures, investors need to spot trends that affect the supply and demand situation of commodities in-depth investigation. While the stock index futures, the investors need to pay more attention to macro-economic, industry dynamics and trends of the stock indexes have greater the impact of the movement of heavyweight.
Characteristics in terms of the futures, index futures, commodity futures with the main difference lies in the different methods of payment due date. Commodity futures contracts, when held to maturity must be physical delivery, a party pay money, the other to deliver the goods. As the stock a "spot" --- stock index of the specificity of countries around the world launch of stock index futures are a cash delivery approach. The general practice is based on the last trading day period immediately before the closing spot price-weighted index as an outstanding index futures contract settlement price.
Second, stock index futures trading
Stock index futures trading is the currency of the underlying stock price index, the contract's trading unit is a certain amount of money and the product of the underlying index to express, to various types of contracts the subject of the index points to offer. Stock index futures transactions primarily include business units, the smallest change in price, daily price fluctuation limit, the contract period, settlement date, settlement method and price. Hong Kong's Hang Seng Index trading, for example, trading unit is 50 × HK Hang Seng Index, the minimum change in price is an index point (ie, 50 Hong Kong dollars), that is, the Hang Seng index is reduced by one point, the buyer of the futures contract (long) of 50 Hong Kong dollars on the loss of each contract, the seller of the 50 Hong Kong dollars earned per contract.
Third, stock index futures investment strategy of
Invest in stock index futures, the overall strategy is in predicting the index will fall afternoon when you sell stock index futures contracts, stock index rises in predicting buying futures contracts. The use of stock index futures to hedge is divided into short hedge and long hedge. When investors hold stock, in order to avoid losses caused by falling stock markets, could sell a certain amount and a certain delivery period, a stock index futures contracts, if the stock market does go down, then the investors to hold cash stock losses futures will be offset by profits, which is short hedge. When investors ready to buy shares at some future time, when, in order to avoid losses caused by rising stock prices, you can buy stock index futures contracts to hedge long.
