Chinese Stock Screening by Turnover, Float Value, and Opening Move

Summary

This Chinese equity selection rule screens for stocks with turnover between 3% and 12%, circulating market value between 5 billion and 10 billion yuan, and a price rise below 6% at 9:25. The accompanying discussion treats turnover and float value as proxies for trading activity and company scale, while the opening-price constraint is intended to avoid stocks that have already surged sharply.

The document includes formula and Python examples, but they do not establish performance. It warns that the rule uses a short data horizon and may overlook fundamentals and financial condition; controlling only the early price move also leaves other price fluctuations unaddressed. It suggests combining liquidity, size, fundamentals, price behavior, and technical indicators. No backtest results or quantified risk analysis are supplied, so the screen is best understood as a candidate-selection filter rather than a complete trading strategy.

Key ideas

• The screen selects stocks with turnover from 3% to 12% and circulating value from 5 billion to 10 billion yuan.
• It excludes stocks whose 9:25 price rise reaches 6% or more.
• Turnover and circulating value are used as rough measures of activity and scale.
• The rule may miss fundamental information and price movements outside the specified time check.
• The document provides implementation examples but reports no performance testing.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.