港股/美股都適用：20 個常見股票術語一次搞懂

掌握這些股票術語，讓你輕鬆駕馭港股和美股市場

Ever felt lost in a sea of jargon when reading about stocks? You're not alone! The stock market, whether in Hong Kong or the US, has its own unique vocabulary. Understanding these terms is crucial for making informed investment decisions. Without them, you're essentially gambling, not investing.

This article will demystify 20 common stock market terms used in both Hong Kong and US markets, empowering you to navigate the world of investing with confidence. Think of it as your essential phrasebook for the global stock market. So, grab your metaphorical passport, and let's dive in!

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Before You Begin (Optional)

New to investing? Check out this beginner's guide to stock investing before diving into this article. It will lay the groundwork for understanding the concepts we'll be exploring. Consider it your pre-flight checklist before taking off into the world of stocks.

Key Terms Explained

1. Stock/Share (股票):

   • Definition: A unit of ownership in a company.
   • Explanation: Owning stock makes you a shareholder, entitled to a portion of the company's assets and earnings. The more shares you own, the larger your slice of the pie.
   • Example: Buying shares of Apple (AAPL) on the NASDAQ or Tencent (0700.HK) on the HKEX. This is where your investment journey begins – with a single share, or perhaps a hundred!

2. Equity (股權):

   • Definition: Represents ownership in a company.
   • Explanation: Often used interchangeably with "stock" or "shares". Think of it as the net worth you hold in a company. Equity isn't just about numbers; it's about owning a piece of the future. It represents your stake in the company's success.

3. Market Capitalization (市值):

   • Definition: The total value of a company's outstanding shares.
   • Calculation: Share price multiplied by the number of outstanding shares.
   • Significance: Used to classify companies as large-cap, mid-cap, or small-cap. In simple terms, it is what the market thinks the company is worth.
   • For example, if a company has 1 million shares outstanding and each share is worth $50, its market cap is $50 million. This is a key metric for assessing a company's size and stability. Market capitalization helps investors understand the relative size of different companies.

4. Index (指數):

   • Definition: A benchmark that tracks the performance of a group of stocks.
   • Examples: S&P 500 (US), Hang Seng Index (Hong Kong).
   • Significance: Provides an overview of the overall market or a specific sector's performance. The S&P 500 reflects the performance of 500 large-cap companies in the US, while the Hang Seng Index tracks the largest companies on the Hong Kong Stock Exchange. These indices are like the pulse of the market – they tell you if it's healthy or not. They offer a quick snapshot of market sentiment.

5. Blue Chip Stock (藍籌股):

   • Definition: Stocks of well-established, financially sound companies with a history of stable earnings and dividends.
   • Examples: Well-known companies in the Dow Jones Industrial Average or the Hang Seng Index. Blue chip stocks are the dependable workhorses of the stock market.
   • These are generally safer investments compared to smaller, less established companies, but they may not offer the same potential for rapid growth. Investing in blue-chip stocks can provide a solid foundation for your portfolio.

6. Volatility (波動性):

   • Definition: The degree of price fluctuation of a stock or market index.
   • High volatility indicates greater risk and potential for both gains and losses. Volatility is the heartbeat of the stock market, sometimes erratic, sometimes calm.
   • For instance, a stock with high volatility might swing wildly between $10 and $20 in a single day, while a low-volatility stock might only fluctuate by a few cents. Understanding volatility is crucial for managing risk and setting realistic investment expectations.

7. Dividend (股息):

   • Definition: A portion of a company's profits distributed to shareholders.
   • Usually paid quarterly. Getting dividends is like receiving a thank-you note from the company for investing in them.
   • Companies that consistently pay dividends are often financially stable and mature. Dividends can provide a steady stream of income for investors.

8. P/E Ratio (市盈率):

   • Definition: Price-to-Earnings Ratio.
   • Calculation: Share price divided by earnings per share.
   • Significance: Used to evaluate a company's valuation relative to its earnings. A higher P/E ratio can indicate that investors expect higher growth in the future compared to companies with a lower P/E ratio. It’s a metric that balances value and growth.

9. EPS (每股盈利):

   • Definition: Earnings Per Share.
   • Calculation: Company's profit divided by the number of outstanding shares.
   • Significance: Indicates a company's profitability on a per-share basis. Higher EPS generally signifies a more profitable company. It’s a direct measure of a company's financial performance from a shareholder's perspective.

10. Bull Market (牛市):

    • Definition: A period of sustained increase in stock prices.
    • Characterized by investor optimism and confidence. In a bull market, optimism is high, and investors are confident, driving prices higher. In a bull market, the trend is your friend.

11. Bear Market (熊市):

    • Definition: A period of sustained decline in stock prices.
    • Characterized by investor pessimism and fear. Bear markets are often seen as opportunities to buy stocks at lower prices. Opportunities come from bear markets, bear markets come from fear.

12. Bid Price (買入價):

    • Definition: The highest price a buyer is willing to pay for a stock.

13. Ask Price (賣出價):

    • Definition: The lowest price a seller is willing to accept for a stock.

14. Spread (價差):

    • Definition: The difference between the bid price and the ask price.
    • Represents the profit margin for market makers. A narrower spread typically indicates higher liquidity. The spread is a key indicator of market efficiency.

15. Liquidity (流動性):

    • Definition: The ease with which a stock can be bought or sold without significantly affecting its price.
    • High liquidity means there are many buyers and sellers. Highly liquid stocks can be traded quickly and easily, minimizing the risk of large price swings. Liquidity is the lifeblood of a healthy stock market.

16. Trading Volume (成交量):

    • Definition: The number of shares traded during a specific period.
    • Indicates the level of interest in a stock. High trading volume can indicate strong buying or selling pressure. Volume confirms price.

17. Day Trading (當日交易):

    • Definition: Buying and selling stocks within the same day.
    • High-risk strategy that requires significant knowledge and skill. Day trading can be exhilarating, but it's not for the faint of heart. It requires discipline, quick thinking, and a stomach for risk.

18. Portfolio (投資組合):

    • Definition: A collection of investments owned by an individual or institution.
    • Diversification is key to managing risk. A well-diversified portfolio can help cushion the impact of market downturns. Diversification is the only free lunch in investing.

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19. IPO (首次公開募股):

    • Definition: Initial Public Offering.
    • The first time a company offers shares to the public. IPOs often generate significant buzz, but they can also be highly volatile. IPOs can offer high returns, but they also come with increased risk.

20. Sector (板塊):

    • Definition: A group of companies that operate in the same industry.
    • Examples: Technology, Healthcare, Finance. Understanding different sectors can help you identify investment opportunities and manage risk. Sectors provide a framework for analyzing and categorizing companies.

The rhetorical device of Antimetabole is used in this piece, which is the repetition of words in successive clauses, but in transposed order. An example would be seen in "Bear markets are often seen as opportunities to buy stocks at lower prices." which can be transposed to "Stocks at lower prices can be seen as opportunities during a bear market".

From Idea to AI Portfolio: My Experience with Bobby

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