First Tractor Company Limited (0038) Plunges -1.282% on Mar 14

March 14, 2018 - By Jacob Smith

Shares of First Tractor Company Limited (HKG:0038) last traded at 3.08, representing a move of -1.282%, or -0.04 per share, on volume of 352,000 shares. After opening the trading day at 3.09, shares of First Tractor Company Limited traded in a close range. First Tractor Company Limited currently has a total float of 1.77 billion shares and on average sees 1.51M shares exchange hands each day. The stock now has a 52-week low of 2.85 and high of 4.98.

What’s Behind Hong Kong’s Good Corporate Governance?

CG Watch, a biannual newsletter, has recently ranked Hong Kong as the second economy in Asia with the best corporate governance next to Singapore. First Tractor Company Limited company and its colleagues quickly became the part of Hong Kong trading life. Previously, Hong Kong has placed first. This feat is very telling of how compelling the environment for trade and commerce is in Hong Kong; and the Stock Exchange of Hong Kong (SEHK) plays an important role in driving national economic growth.

Equity Market in Hong Kong

Established in 1891, the SEHK is the primary stock exchange in the world. In Asia, it is the third largest stock exchange while in the world, it is currently placed sixth.

Meanwhile, the Hang Seng Index (HSI), which was first published on November 24, 1969, is the benchmark index measuring the 50 most actively traded companies on the SEHK. Presently, it is operated by the Hang Seng Bank (HSB) Hang Seng Indexes Company. As a free-float market-capitalization-weighted index, it represents about 60% of the total market valuation on the SEHK. First Tractor Company Limited are among those who use the advantages of being inside the index list.

The HSI had reached its all-time low of 58.61 on August 31, 1967. Shortly before the beginning of the 2008 Global Financial Crisis, it had reached its all-time high of 31,638.22 on October 30, 2007 as investors resorted to safe-haven assets in Asia. During that session, the HSI had reached an intraday high of 31,958.41.

The HSI had first reached the 10,000 mark on December 10,1993; the 20,000 mark on December 28, 2006; and the 30,000 level on October 18, 2007. When the 2008 Global Financial Crisis had broken out, it lost nearly 70% of its peak, closing at 10,676.28 on October 27, 2008.

Having been able to recover, the HSI had once again reached the 20,000 mark on July 24, 2009, closing at 20,063.93. On August 19, 2014, it had reached the 25,000 mark; on April 8, 2015, the 26,000 mark.

Trading in Hong Kong

For a company to be eligible for inclusion in the HSI, it must meet a set of criteria.

First, it must of course be listed on the SEHK for at least 24 months prior to a particular rebalancing period. However, a company can already be eligible for inclusion even if it has only been listed on the SEHK for at least three months provided that it has a compelling overall market performance and valuation.

A company must also belong to the top 90% of the total market capitalization on the SEHK; and to the top 90% total turnover on the SEHK.

The HSI is rebalanced quarterly using the base value of 100— the base date being July 31, 1964.

The regular trading session on the SEHK lasts from 9:30 a.m. until 4:00 p.m. There is also a pre-market trading session that lasts from 9:00 a.m. until 9:30 p.m. Investors must harry up to see what is going on with First Tractor Company Limited stocks.

Entering the Hong Kong equity market is ideal for investors nowadays. It is the best way to bank on the promising future of not just Hong Kong’s thriving economy but most especially that of Asia.

More important recent First Tractor Company Limited (HKG:0038) news were published by: which released: “China stocks fall amid fears of tighter liquidity” on December 25, 2017, also published article titled: “UPDATE 1-China’s Sinomach to merge with China Hi-Tech Group – state asset …”, published: “JS Kim Promoted to Chairman of Daedong Industrial Co., Ltd., Parent Company of …” on January 04, 2018. More interesting news about First Tractor Company Limited (HKG:0038) was released by: and their article: “Escorts Unveils India’s First Electric Tractor Concept and Global Tractor Series” with publication date: September 06, 2017.

First Tractor Company Limited engages in the research and development, manufacture, and sale of agricultural and power-shift machinery, and related spare parts in the People's Republic of China and internationally. The company has market cap of $5.44 billion. The firm offers agricultural machinery, including wheeled and crawler tractors, and their components, including castings, gears, gear boxes, and covers; and industrial handling products comprising mine trucks, industrial forklifts, and economic forklifts. It has a 12.35 P/E ratio. It also provides fuel injection pumps, forged parts, agricultural machinery covering panels, mudguards of covering parts, front drive axles, control machine tools, rear transfer box housings, dry cylinder blocks, and machine tool main crankcase assembly products; harvesters; accessories of construction machineries, low-speed vehicles, vessels, and power generators; and off-road diesel engines.

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