Note: Stock index futures refer to standardized futures contracts with the stock price index as the subject matter. The two sides agreed that on a specific date in the future, the underlying index can be bought and sold according to the size of the stock price index determined in advance, and the difference will be settled in cash after the expiration.
As a type of futures trading, stock index futures trading has basically the same characteristics and processes as ordinary commodity futures trading. Stock index futures are a kind of futures, which can be roughly divided into two categories, commodity futures and financial futures.
Extended data:
Influencing factors of stock index futures;
1, stock index:
Stock index is an index used to reflect the overall price changes of sample stocks. The determination of stock price is very complicated, because people have different views on the intrinsic value of an enterprise and its future profit prospects. Pessimists want to sell, optimists want to buy, and when the buying amount is greater than the selling amount, the stock price will rise; When the buying amount is less than the selling amount, the stock price falls.
So the stock price is consistent with the intrinsic value, but sometimes there are deviations. Investors tend to look for stocks whose intrinsic value is greater than the market price, so the price of stock index is constantly changing.
2. Macroeconomy:
Generally speaking, the stock price index will show an upward trend when the macro economy is running well; In the context of the deterioration of macroeconomic operation, the stock price index often shows a downward trend.
At the same time, the production and operation of enterprises are also closely related to the stock price index. When the operating efficiency of enterprises generally improves, it will promote the rise of the stock price index, on the contrary, it will lead to the decline of the stock price index. This is the function of stock market as an "economic barometer".
3. Interest rate:
Generally speaking, the higher the interest rate, the lower the stock price index. The reason is that under the condition of high interest rate, investors tend to deposit or buy bonds, which leads to the decrease of stock market funds and the decline of stock price index; Conversely, the lower the interest rate, the higher the stock index will be.
The more important reason is that the production cost of enterprises will rise because of the rising interest rate. For example, the rising loan interest rate will lead to the rising financing cost, and the related downstream enterprises will raise the prices of related products because of the rising financing cost, which will lead to the overall increase of production costs, the related profits will fall, and the share price representing shareholders' rights will also fall, and vice versa.
4. Financial situation:
When the market funds are abundant in a certain period, the purchasing power of the stock market is relatively strong, which will push the stock price index up, and vice versa. For example, a large number of domestic foreign exchange reserves lead to an increase in money supply, which usually leads to an increase in stock index prices.
5. Financial policies:
Due to the market-oriented reform of the economy and the adjustment of industrial structure and regional structure, the state often introduces changes in interest rates, exchange rates and policies for industries and regions, which will have an impact on the whole economy or some industrial sectors, thus affecting the trend of Shanghai and Shenzhen 300 constituent stocks and their indexes.
Baidu encyclopedia-stock index futures
Baidu Encyclopedia-Shanghai and Shenzhen 300 Stock Index Futures Contract