Published On: Tue, May 11th, 2010

Hushen 300 Index 4 Weeks On

China’s financial future the Hushen 300 Index has been trading for almost 4 weeks now and I wanted to take a look to see how it was fairing. Below is a chart with the Open, High, Low, Close, Volume ,Turnover (in millions of RMB 1.00 USD = 6.83 RMB) and open interest for the front month contract May which has been populated with the last 17 trading day (May 3 was a holiday).

The contract is averaging 139,000 contracts per day and has trade 2.36 million so far with Open interest averaging 6800 contracts. Quite a good start indeed.

I am having a hard time reconciling the Turnover number however. The contract size is 300RMB times the index so according to the most recent day on the graph using the closing value of 2918 that would put the value of the contract at 875,400RMB. So if we multiply that number by the days volume 210919 we get 176,759,892,600 RMB or around 25,879,925,710 USD. That doesn’t seem right to me. Of course there could be 1 contract traded at the close but for illustrative purposes the numbers don’t make sense. The data was taken from the China Financial Futures Exchange website.

CSI300 trading

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  1. Barry says:

    Thanks for the math. My clients and my bosses eyes pop when they just see the surface numbers. I always try to put things in context, mostly to no avail. This will help.

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