According to the principle of price priority and time priority, the stock issue price trading system sorts all effective buying orders from high to low and all effective selling orders from low to high.
The opening price trading system will match the buy and sell orders in front of the queue in turn until the transaction cannot be completed.
That is, the number of buying orders is equal to the number of selling orders, then the arithmetic average price of the buying and selling declared prices of the last transaction is taken as the opening price; If the last transaction is a partial transaction, the declared price of some transaction orders will be taken as the opening price. The price is rounded off by the minimum change price of the futures contract.
2, the scope is different
The issue price of the stock is between the closing price and the highest point, indicating that many parties have confidence and ability to continue to rise. However, the strength of the buyer is limited, and the stock market depends on the strength of the seller before making the next step.
The opening price of the stock market is within yesterday's K-line, which shows that the buyer's strength has been tested and the seller may strike back at any time and place. Therefore, we should pay close attention to the trend of the stock market. If there is an accident, the stock market may reverse.
3. Different in nature
When the opening price is higher than the highest price, it shows that the stock market has created significant conditions conducive to the stock market's rise under special conditions. Under such conditions, the skyrocketing stock market is an inevitable trend and there is the possibility of sustained growth. It is a form that determines the stock market to stop falling, not a lifeline. After the opening, the stock market has a callback process, and the low point of adjustment is the best time for us to buy.
However, when the stock issue price is yesterday's closing price or lower than yesterday's closing price and higher than yesterday's lowest point, it shows that the seller's main force continues to be strong and the buyer's power is weak, and the market will continue along the downward trend.
Extended data
If a security has not been traded for a period of time (usually half an hour) after the opening of the market, the closing price of the previous day shall be taken as the opening price of the security on that day. If a security has not been traded for several days in a row, the on-site intermediary broker of the stock exchange will put forward a guiding price according to the price trend of the securities entrusted by customers, making it the opening price after the securities are traded.
In the intangible trading market, if a security has not been traded for several days in a row, the closing price of the previous day is taken as its opening price.
There are two ways to determine the issue price of shares in China: one is the fixed price method, that is, the lead underwriter and issuer determine the issue price of new shares according to the price-earnings ratio method before issuance: the issue price of new shares = after-tax profit per share × issue price-earnings ratio. The second is the interval price-seeking method, also known as the "bidding issue" method.
That is, to determine the upper and lower price of new shares, and to determine the issue price at the time of issuance according to the principle of call auction.
For example, when a new share is issued by auction, the upper limit is 10 yuan and the lower limit is 6 yuan. At the time of issuance, subscribers can buy at a price they can accept. In this way, 8 yuan can meet the maximum turnover of all subscribers, so 8 yuan becomes the final issue price. All subscriptions in 8 yuan and above can subscribe for new shares, while subscriptions below 8 yuan cannot subscribe for new shares.
This issuance method is mostly used when issuing new shares. The issue price of new shares mainly depends on the after-tax profit per share and the issue price-earnings ratio. 200 1 Since the implementation of the approval system, the P/E ratio of IPO is generally more than 50 times.
Baidu Encyclopedia-Stock Issue Price
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