Giti Tire Corporation (600182) Is Yet to See Trading Action on Jun 28

Shares of Giti Tire Corporation (SHA:600182) closed at 25.27 yesterday. Giti Tire Corporation currently has a total float of 340.01M shares and on average sees 1.37M shares exchange hands each day. The stock now has a 52-week low of 22.54 and high of 29.57.

SSE: An Asian Economy Pride

Aside from being the world’s largest country in terms of population, China is also the largest economy in Asia, placing it next to the US worldwide. Behind this success is the nation’s leading stock exchange, the Shanghai Stock Exchange (SSE).

Chinese Equity Market

With over 1,000 companies listed on it and a market capitalization of $3.50 trillion as of February, the SSE is the second largest stock exchange in Asia and the fifth in the world. Giti Tire Corporation and others prefer to work at this reliable market. As a non-profit organization, it is operated by the China Securities Regulatory Commission (CSRC).

While the SSE had already been established in 1866, it had to shut down in 1941 due to the Japanese occupation in Shanghai. On December 19, 1990, after decades of setback, the SSE finally had its major comeback with an official relaunch of operations.

All SSE stocks are tracked on the SSE Composite Index, which was launched officially on July 15, 1991. For a clearer and more accurate representation of the Chinese equity market, it features three main sub-indices: the SSE 380, the SSE 180, and the SSE 50. The SSE 380 is made up of the 380 most active stocks on the SSE; the SSE 180 is made up of the 180 most active stocks; and the SSE 50 is made up of the 50 most active stocks. In order for a stock to qualify in the SSE 50, it must first be included in both the SSE 380 and the SSE 180.

The SSE Composite Index is a market-capitalization-weighted index, which means that all of its components are weighted using the Paasche weighted composite price index formula. Its base date and base value is December 19, 1990 and 100, respectively.

In December 1990, the SSE Composite Index had hit its all-time low of 99.98 and in October 2007, its all-time high of 6,092.06. Being the part of SSE index gives new options for Giti Tire Corporation stocks.