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China has scrapped the tax on stock purchases and relaxed company buyback rules to help support the world's second-worst performing stock market this year.

中国已取消税务购买股票和放宽公司回购股票的规则,以帮助世界上第二表现最差的股市今年。

The empirical study on seven main indexes in China stock market shows the PDFA method can be used to reveal the phenomena that the lasting characteristic of stock index will change with time, and is also useful for us to compare the similarity of lasting characteristic between different indexes.

对我国证券市场的七个主要指数的实证研究结果表明,本文提出的逐段非趋势波动分析方法能够有效揭示股票指数持久性特征随时间变化的现象,也有助于更深入的比较不同指数间持久性特征的相似程度。

The research of this thesis indicates that to debase the speculation and the swelling stock bubbles of Chinese stock market, the fundamentally measure is to complete the shareholders' voting rights.

本文的研究最终证明,中国股市非均衡状态的根本原因之一即在于投资者投票权的非完备性。

In order to correct the locality and partiality in the classical analysis method for investment, a genetic algorithm used in short-term stock investment analysis is proposed. Significance of chromosome, adapt value parameter in the stock market is explained and an applied scheme of selection, crossbreed, and variation operator is designed.

针对传统投资分析方法的局限性和一定程度的片面性,提出将遗传算法运用于股票短期投资分析,具体解释了染色体、适应值等参数在股市分析中的实际意义,并设计了选择、杂交、变异算子的使用方案,同时改进了算法——提出"伸展算子"。

Article 49 If the Company or any of its directors, supervisors, senior executives, shareholders, de facto controller or purchaser is subject to the investigation by the competent organ, the compulsory measure given by the justice and discipline department, the transfer to the justice organ, the criminal liability given by the justice organ, the audit by the CSRC, the administrative punishment, ban from the stock market, the confirmation as an improper person by the CSRC, the punishment by any other administrative department or the public denouncement by the stock exchange, the Company shall offer reasons and conclusions.

第四十九条公司及其董事、监事、高级管理人员、公司股东、实际控制人、收购人如在报告期内有受有权机关调查、司法纪检部门采取强制措施、被移送司法机关或追究刑事责任、中国证监会稽查、中国证监会行政处罚、证券市场禁入、认定为不适当人选被其他行政管理部门处罚及证券交易所公开谴责的情形,应当说明原因及结论。

The disequilibrium resulted from the speculation of the stock investors is one of the tough problem in China stock market.

提要:股票投资者的投机行为及其所导致的股票市场的非均衡,是股票市场存在的难点之一。

Secondly, we empirically analyze the overreaction phenomenon in Chinese stock market with the data of Shanghai stock exchange.

第二部分实证检验了中国股票市场的过度反应现象。

So we must try to establish Stock Index Futures in proper time.It has becoming a exigency of our stock market.

无论是交易品种、成交数量还是市场范围,都呈急剧扩大之势。

In the stock market, the price of the stock is influenced by various factors.

在股票市场中,股票的价格受各种因素的影响。

Based on modern option pricing theories,Black-Scholes and Merton option pricing model are used to study the pricing of the structured products,and its design,characteristics and risk are studied respectively.Based on Black-Scholes and Merton option pricing models,I also use the checking method to estimate the parameters of the model following real prices data,And calculate the theoretical price.Then,I compare the real and theoretical prices of the two pricing models.The results show that the effects of the Merton option pricing model are superior to the Black-Scholes option pricing model.Moreover,It shows that Hong Kong stock prices are also affected by the instant messages,and the jump phenomenon may exist in Hong Kong stock market.

本文以香港衍生品市场上三种主要结构性产品结构性票据、牛熊证和衍生权证为例,探讨了结构性产品的设计、特点、风险和定价,以现代期权定价理论为基础,以B-S和Merton两种期权定价为基础,根据市场价格经过校验得出模型隐含的参数,编程计算出两种定价模型下的理论价格,并将其实际价格和理论价格进行了比较,结果显示:Merton定价模型的效果要优于Black-scholes定价模型,说明香港市场的股票价格也可能受即时信息的影响,存在跳跃现象。

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