United Electronics Co Ltd (002642) Dips -6.66% on Nov 19

November 19, 2017 - By Hazel Jackson

Shares of United Electronics Co Ltd (SHE:002642) last traded at 15.56, representing a move of -6.66%, or -1.11 per share, on volume of 11.94 million shares. After opening the trading day at 16.55, shares of United Electronics Co Ltd traded in a close range. United Electronics 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 15.52 and high of 26.44.

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. United Electronics 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 United Electronics 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 United Electronics 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.

More notable recent United Electronics Co Ltd (SHE:002642) news were published by: Globenewswire.com which released: “CNinsure Announces Cooperation Agreement With United Electronics” on June 18, 2015, also Reuters.com with their article: “Samsung Elec may build US plant for home appliances: source” published on February 02, 2017, Reuters.com published: “US Supreme Court rejects Samsung appeal in warranty dispute” on October 02, 2017. More interesting news about United Electronics Co Ltd (SHE:002642) were released by: Reuters.com and their article: “Samsung Electronics to launch refurbished Note 7 phones in South Korea from July 7” published on July 02, 2017 as well as Reuters.com‘s news article titled: “Samsung Electronics expects continued chip boom after record second quarter profit” with publication date: July 27, 2017.

Electronics Co., Ltd. is a China-based firm principally engaged in the provision of database solutions and services. The company has market cap of $. The Firm mainly operates in four business divisions. It currently has negative earnings. System Integration segment is engaged in the provision of computing, storage and data security, Internet and information security, as well as virtualization and green data center solutions.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.