On November 29, Capital Bang learned that on the evening of November 26 this year, China Securities Index Co., Ltd. announced on its website that China Securities Index Co., Ltd. decided to adjust the index samples such as Shanghai and Shenzhen 300, CSI 500, Shanghai 50 and Kechuang 50, effective after the market closes on December 10, 2021.
It is understood that this index sample adjustment involves tracking more than 100 core index stocks, such as Shanghai 50, Shanghai and Shenzhen 300, CSI 500, Shanghai 180, Kechuang 50 and so on, and the size of the corresponding index fund amounts to about 553.41 billion yuan.
Among them, Choice data show that as of November 26, 2021, there are 32 index funds tracking the Shanghai 50 index, with a total fund size of about 85.4 billion yuan; 97 index funds tracking the Shanghai and Shenzhen 300 index, with a total fund size of about 232.48 billion yuan; and 87 funds tracking the CSI 500 index, with a total size of 136.112 billion yuan.
There are three index funds tracking the SSE 180 index, with a total size of more than 23 billion. At present, there are 17 index funds tracking the Kechuang 50 index, with a total scale of nearly 59 billion, and one fund tracking the dividend index, with a total size of about 15.5 billion yuan.
On the whole, after the adjustment of the index stocks, the adjustment behavior of the fund has an important impact on the price of sample stocks.
In theory, there is a buying demand for transferring individual stocks and a selling demand for transferring individual stocks, which in turn affects the stock price of the sample stock. For core indices such as the Shanghai 50, stocks that have risen well recently will be included every time they are adjusted, because the rise will increase the total market capitalization of these stocks and their trading will be active.
At the same time, stocks that have fallen recently will be removed. This naturally forms a mechanism for the replacement of constituent stocks, in which stocks with good performance are selected and stocks with poor performance are eliminated, thus keeping the index alive.