Qingdao East Steel Tower Stock Co Ltd (002545) Plunged -6.18% on Nov 19

November 19, 2017 - By Winifred Garcia

Shares of Qingdao East Steel Tower Stock Co Ltd (SHE:002545) last traded at 8.65, representing a move of -6.18%, or -0.57 per share, on volume of 9.39M shares. After opening the trading day at 9.25, shares of Qingdao East Steel Tower Stock Co Ltd traded in a close range. Qingdao East Steel Tower Stock Co Ltd currently has a total float of shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 8.55 and high of 17.48.

SSE Composite Index: Driving Chinese Economy

SSE Composite Index is the index of all stocks traded on the Shanghai Stock Exchange (SSE).

SSE is one of China’s two largest stock exchanges. The other is Shenzhen Stock Exchange. SSE is the second-largest stock exchange in Asia and fifth-largest in the world by market capitalization. Qingdao East Steel Tower Stock Co Ltd is one of companies included in SSE lists. The exchange is run as a nonprofit organization overseen by China Securities Regulatory Commission (CSRC).

The platform is used for trading equities, bonds and funds. Stocks on SSE are grouped into two categories as A Shares and B shares. The major distinction between the two types of shares today is that B shares are priced in U.S. dollar (USD) while A Shares are priced in Yuan (RMB). However, before 2002 A Shares were only available for trading by Chinese citizens, but today the shares are accessible by foreign investors as well and the move to remove the restriction in trading of A Shares partly explains why SEE has become a thriving stock exchange in Asia and beyond. Public availability of company information is one of the reasons why Qingdao East Steel Tower Stock Co Ltd is still on demand at the market.

Trading hours and days

Stocks are available for trading on SSE from Monday to Friday unless the markets are closed for holidays such as the Chinese New Year. Trading on SSE starts at 9.15 a.m. for competitive pricing session that runs until 9.25 a.m. After that regular trading begins at 9.30 a.m. and continues to 11.30 a.m. for morning session. Afternoon session resumes at 13.00 p.m. and runs until 15.00 p.m.

SSE resumed operations in December 1990 after more than four decades of a pause. However, trading in shares in Shanghai goes back to 1860s.

Tracking performance of Chinese stocks

With the lifting of the ban on trading A Shares in Shanghai by foreigners, the SSE Composite Index has become an important indicator of the health of China’s stock market.

Though SSE Composite Index tracks all listed stocks on SSE, the index has smaller, sharp-pointed units, also called sub-indices. The smaller units are SSE 380, SSE 180 and SSE 50, which are constituted on the basis of market capitalization.

SSE 380 represents top 380 largest Chinese companies by market capitalization on the SSE, while SSE 180 is for the top 180 largest companies on the exchange. SSE 50 on the other hand represents top 50 largest Chinese listed companies on the SSE. A stock must be a component of SSE 380 sub-index to qualify to join SSE 180 sub-index. Likewise, a stock must be a component of SSE 180 to qualify for listing in SSE 50 sub-index.

The sub-indices are designed to bring clarity in monitoring stocks of different sizes on the SSE. It brings clarity into the Qingdao East Steel Tower Stock Co Ltd operations as well.

Launching of SSE Composite Index

The SSE Composite Index base day is December 19, 1990 and its base value is 100. But the index formally launched on July 15, 1991.

SSE Composite Index hit an all-time trough of 99.98 points in December 1990. But the index recovered steadily over the years as China’s economy continued to expand to reach an all-time high of 6092.06 points in October 2007.

China’s large economy, the second-largest in the world after the U.S., is a major investor draw to Chinese stocks. Investors from across Asian and beyond are jostling for a slice of Chinese equities to bet on the country’s bright future as indicated partly by improving consumer incomes and rapidly expanding middleclass population.

Qingdao East Steel Tower Stock Co. Ltd. is principally engaged in the research, development, design, manufacture, sale and installation of steel structure and iron tower products. The company has market cap of $. The Company’s products mainly include steel structures, steel towers and angel steel towers. It currently has negative earnings. The Company’s steel structure products include power plant steel structures, petrochemical steel structures, as well as civil building steel structures and others.

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