Indlela Inkomba Yentengo Yesitoko Esebenza Ngayo
Inkomba yentengo yesitoko ingenye yamagama asetshenziswa kakhulu lapho kuxoxwa ngemakethe yezimali. Lapho izindaba zibika ukuthi "i-Jakarta Composite Index (JCI) iyaqina" noma "i-Dow Jones iyabuthaka," empeleni zikhuluma ngokuhamba kwenkomba. Kodwa-ke, kwabaningi, izinkomba zisabonakala njengezinombolo eziyimfihlakalo ezishintshashintsha ngokungasho lutho. Noma kunjalo, izinkomba zisebenza umsebenzi obalulekile: zisisiza siqonde izimo zemakethe, ziqhathanise ukusebenza kokutshalwa kwezimali, futhi zisebenza njengesisekelo semikhiqizo efana ne-index mutual funds kanye nama-ETF. Ngakho-ke, izinkomba zentengo yesitoko zisebenza kanjani?
Iyini inkomba yentengo yesitoko?
Kalula nje, inkomba yentengo yesitoko iyinombolo emele ukunyakaza kwentengo yeqembu elithile lamasheya. Ama-index awathengiswa ngqo njengezitoko, kodwa inani lawo liyashintsha ngokusekelwe ekushintsheni kwentengo yezitoko zawo ezikhona. Ngakho-ke, ama-index avame ukubizwa ngokuthi "ama-barometer" emakethe: abonisa ukuthi imakethe iyakhuphuka (i-bullish) noma yehla (i-bearish).
Izibonelo zezinkomba ezidumile e-Indonesia zifaka phakathi i-Jakarta Composite Index (JCI), ekhombisa ukunyakaza kweningi lamasheya ku-Indonesia Stock Exchange. Kukhona nenkomba ye-LQ45, equkethe amasheya angu-45 aqinile futhi ngokuvamile ibhekwa njengemele amasheya e-blue-chip.
Kungani kudalwa inkomba?
Inkomba yenzelwe izinjongo eziningana eziyinhloko:
1. Ukulinganisa ukusebenza kwemakethe
Ngesibalo esisodwa, abadlali bemakethe bangabona umbono jikelele wezimo zemakethe yesitoko ngaphandle kokuhlola intengo yesitoko ngayinye.
2. Yiba yisibonelo
Abatshalizimali kanye nabaphathi bezimali bavame ukuqhathanisa ukusebenza kwephothifoliyo yabo nenkomba. Isibonelo, ingabe isikhwama sezimali esihlangene singadlula i-Jakarta Composite Index (JCI)?
3. Imikhiqizo yokutshalwa kwezimali eyisisekelo
Ama-index asebenza njengezilinganiso ze-index mutual funds, ama-ETF, kanye nezinkontileka ezisuselwe kokunye (isb., ama-index futures). Le mikhiqizo izama ukulingisa noma ukulandelela ukusebenza kwe-index.
4. Ukusiza ekuhlaziyweni kwezomnotho
Inkomba ivame ukusetshenziswa njengesibonakaliso semizwa yezomnotho kanye nokuzethemba kwabatshalizimali.
Amalungu e-Index: yiziphi izitoko ezifakiwe?
Akuzona zonke izinkomba ezinobulungu obufanayo. Ezinye izinkomba zibanzi (zihlanganisa amasheya amaningi), kanti ezinye zikhetha. Ubulungu bezinkomba bunqunywa ngumhleli wezinkomba (isb., isikhungo sokushintshanisa noma izinkomba) ngokusekelwe ezindinganisweni ezithile, njenge:
– Ukwenziwa kwemali emakethe (inani lenkampani esitokweni)
– Uketshezi (inani lesitokwe elithengiswa ngalo)
– I-Float yamahhala (ingxenye yamasheya empeleni ajikeleza emphakathini)
- Imikhakha ethile (isb., izinkomba ezithile zobuchwepheshe, i-sharia, noma amasheya abathengi)
– Ukuhambisana nemithetho ethile (isb. inkomba yesitoko se-sharia)
Ubulungu be-Index buvame ukuhlolwa njalo, isibonelo njalo ezinyangeni eziyisithupha. Amasheya angasahlangabezani nemigomo angasuswa futhi athathelwe indawo amanye amasheya.
Indlela yokubala inkomba: kusukela emananini esitoko kuya enombolweni eyodwa
Ukuze kufinyezwe iqembu lamasheya libe inombolo eyodwa yenkomba, kudingeka indlela yokubala. Izindlela eziningana zivame ukusetshenziswa emhlabeni wezimakethe zezimali.
1. Inkomba enesisindo semakethe
Lena yindlela evame ukusetshenziswa kakhulu yizinkomba ezinkulu njenge-Jakarta Composite Index (JCI) kanye nezinkomba eziningi zomhlaba wonke. Kule ndlela, amasheya anezimali ezinkulu emakethe azoba nomthelela omkhulu ekunyakazeni kwezinkomba.
Isibonelo esilula:
Uma isitoko A siyinkampani enkulu kanti isitoko B siyinkampani encane, ukwanda kwe-1% kwesitoko A kuzophakamisa inkomba ngaphezu kokwanda kwe-1% kwesitoko B, ngoba inani lika-A likhulu kakhulu.
Le ndlela ibhekwa njengengokoqobo ngoba ibonisa "ingxenye" yezinkampani ezinkulu emakethe. Kodwa-ke, umphumela uwukuthi inkomba ingathonywa kakhulu yizitoko ezimbalwa ezinkulu.
2. Inkomba enesisindo samanani
Ngale ndlela, amasheya anentengo ephezulu ngesabelo ngasinye anethonya elikhulu, kungakhathalekile ukuthi inkampani ingakanani. Isibonelo esidumile kakhulu yi-Dow Jones Industrial Average (DJIA).
Ububi bale ndlela ukuthi amanani esitoko angaba phezulu ngoba kunamasheya ambalwa asele, hhayi ngoba inkampani inkulu. Ngakho-ke, ama-index amaningi anamuhla akhetha ukulinganisa ubukhulu bemakethe.
3. Inkomba enesisindo esilinganayo
Ku-index enesisindo esilinganayo, isitokwe ngasinye sinethonya elilinganayo. Ngakho-ke, ukunyakaza kwe-index kuwukunyakaza okujwayelekile kwawo wonke amasheya angamalungu.
Inzuzo: inkomba "ilingana" kakhulu futhi ayilawulwa amasheya amakhulu. Ububi: kunzima kakhulu ukulandelela ukutshalwa kwezimali okukhulu ngoba kudinga ukulinganiswa kabusha okuvamile, futhi izindleko zokuthengiselana zingaba phezulu.
Indima "yonyaka wesisekelo" kanye nenombolo yenkomba yesisekelo
Ukuze inkomba ibe nenjongo, umdali wenkomba usetha inani lesisekelo ngesikhathi esithile (usuku lwesisekelo). Isibonelo, ngosuku oluthile, inkomba isethwe ku-100 noma ku-1.000. Ngemva kwalokho, ukuguquguquka kwenkomba kubonisa izinguquko enanini leqembu lesitoko uma kuqhathaniswa nalelo phuzu lokuqala.
Uma inkomba ikhuphuka isuka ku-1.000 iye ku-1.200, kusho ukuthi ngokwesilinganiso (ngokwendlela yokulinganisa), inani leqembu lesitoko likhuphuke cishe ngo-20% uma kuqhathaniswa nesikhathi lapho inkomba yayibekwe ku-1.000.
Kungani kukhona "ukulungiswa" kwenkomba?
Ukubalwa kwezinkomba akugcini nje ngokushintshashintsha kwamanani. Imicimbi yezinkampani ingaphazamisa ukubalwa uma ingalungiselelwanga, njengokuthi:
– Ukuhlukaniswa kwesitoko (ukuhlukaniswa kwenani eliphansi kanye nentengo yesabelo)
- Ukuhlukana okuphambene
– Udaba lwamalungelo (ukukhishwa kwamasheya amasha anamalungelo okulungiselela)
- Izabelo zesitoko
- I-Spin-off
- Izinguquko enanini lamasheya asele
Ngaphandle kokulungiswa, inkomba ingase ibhekane nokwenyuka noma ukwehla "okungamanga" ngenxa nje yezinguquko zobuchwepheshe, hhayi ngenxa yobuthakathaka noma ukuqina kwemakethe yangempela. Ngakho-ke, abahleli bezinkomba basebenzisa i-adjustment factor (ngezinye izikhathi ebizwa ngokuthi i-divisor noma i-adjustment factor) ukuze balondoloze ukuvumelana nokukhombisa izinguquko zangempela enanini lezomnotho.
Inkomba yentengo uma iqhathaniswa nenkomba yokubuyiselwa kwemali iyonke
Abantu abaningi bacabanga ukuthi izinkomba zibonisa kuphela imbuyiselo yokutshalwa kwezimali. Kodwa-ke, izinkomba ezivame ukuvela ezindabeni ngokuvamile ziyizinkomba zamanani: zilinganisa kuphela izinguquko emananini esitokwe.
Kukhona futhi inkomba yembuyiselo iyonke, ehlanganisa nomthelela wembuyiselo (uma kucatshangelwa ukuthi imbuyiselo iyatshalwa kabusha). Esikhathini eside, imbuyiselo ingaba yinto ebaluleke kakhulu. Ngakho-ke, ukusebenza kwephothifoliyo yabatshalizimali kungahluka uma kuqhathaniswa inkomba yentengo nenkomba yembuyiselo iyonke.
Izinhlawulo zibathinta kanjani abatshalizimali?
Inkomba akuyona nje inombolo esikrinini. Inomthelela wangempela, isibonelo:
1. Yiba yireferensi yamasu okutshala imali angasebenzi
Abatshalizimali bangathenga ama-index mutual funds noma ama-ETF alingisa i-index ethile. Uma i-index ikhuphuka, umkhiqizo nawo uvame ukukhuphuka (ngaphandle kwemali).
2. Shayela ukugeleza kwemali kumasheya athile
Uma isitoko singena ku-index ethandwayo, isidingo sivame ukwanda ngoba izimali ze-index kanye nabaphathi bezimali kudingeka bathenge isitoko ukuze bavumelanise amaphothifoliyo abo ne-index. Ngakolunye uhlangothi, amasheya angafakwanga ku-index angaba nengcindezi yokuthengisa.
3. Ukwakha umbono wemakethe
Uma i-JCI yehla kakhulu, umuzwa wabatshalizimali nawo ungawohloka, noma ngabe akuzona zonke izitoko eziwa kakhulu. Inkomba isebenza njengophawu lwengqondo.
Imikhawulo yenkomba yentengo yesitoko
Nakuba ziwusizo, izinkomba zinemikhawulo:
- Akuhlali kumelela zonke izimo zabatshalizimali
Imakethe ingakhuphuka ngoba amasheya amakhulu ayakhuphuka, kuyilapho amasheya amaningi amancane ewa.
– Isisindo sithintekile
Ku-index enesisindo semakethe, amasheya ambalwa angabusa ukunyakaza.
– Akubonisi ngokuzenzakalelayo inzuzo yomtshali-zimali
Izindleko zokuthengiselana, intela, kanye nezabelo (uma kusetshenziswa inkomba yentengo) azibonakali njalo.
Isiphetho
Inkomba yentengo yesitoko isebenza ngokufingqa ukunyakaza kweqembu lamasheya ibe inombolo eyodwa, eqashelwa kalula. Ihlanganiswa kusetshenziswa imithetho ethile yokukhetha amalungu kanye nezindlela zokubala—evame ukukalwa nge-capitalization yemakethe. Inani lenkomba liyashintsha ngokushintsha kwamanani entengo yamasheya amalungu ayo futhi lilungiswa ngezenzo zenkampani ukuqinisekisa ukuthi ukunyakaza kwayo kubonisa izimo zangempela zemakethe. Ngokuqonda ukuthi izinkomba zisebenza kanjani, abatshalizimali bangafunda izindaba zemakethe ngempumelelo enkulu, bakhethe amasu okutshala imali, futhi bahlole ukusebenza kwephothifoliyo yabo ngobuqotho.
Uma ufisa, ngingangeza isibonelo sokubala inkomba ngezinombolo ezilula (isinyathelo ngesinyathelo) noma ngiqhathanise i-IHSG, i-LQ45, kanye nenkomba yesitoko samaSulumane ngombono wendlela yokusebenza.
