Glossary Of Finance

An English-Chinese Glossary of Finance

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所有普通股指數 All Ordinary Index所有在香港聯合交易所上市的普通股的價值加權指數
A value weighted index compiled by the Stock Exchange of Hong Kong based on all common listed stocks

年費 Annual fee銀行向顧客收取的年度費用, 如信用卡或戶口年費
An annual charge for the provision of banking service, eg credit card/account annual fee

年金 Annuity一種透過保險方式或由僱主提供的定期支付金額的制度。通常作為退休後的收入來源
A regular stream of income paid to an individual usually by the company they worked for or income derived from their insurance policies. It is often used as income during retirement

升值 Appreciation價值的上升。會計學上,升值指某資產價值的上升
Increase in value. According to accounting principle, appreciation is an increase in value of assets

資產 Assets由個人或公司擁有的有價值物品
Anything with monetary value owned by an individual or a corporation

自動櫃員機 Automated teller machine一種提供存款、提款及支票存入等銀行服務的設施。自動櫃員機通常放置於銀行外
A device that offers banking services such as cash/cheque deposit and cash withdrawal. It is usually located outside or away from a bank’s premises

結餘 Balance貸項及借項的差額
The difference between credits and debits in an account

破產 Bankruptcy法庭裁決宣佈債務人無法償還已到期的債項,並失去控制自己資產的權利。債務人破產的後果包括財物被拍賣用以還債或成功貸款機會減低
When an individual or a company is unable to pay its debts and a court of law declares that the debtor has no control over its own assets. The possible consequences of such declaration are the debtor’s property and assets may be put on sale to repay his debts and the debtor’s chance of getting credit will be reduced.

熊市 Bear markets指股票市場各股價持續下跌的情況
A stock market condition where share prices are falling

受益人 Beneficiary得到金錢或物質補償的一方。例如在人壽保險計劃中,當受保人逝世後,獲得合約利益的一方。
A person who has the right to obtain money or property from an agreement or a contract. In the context of a life insurance policy, a beneficiary refers to a person who is named to receive the policy benefit after the death of the insured.

藍籌股 Blue chips股票市場中最優質股票類別。通常是上市時間較長,具優秀盈利、派息及往績的大型上市公司。
Companies have a long and stable record of earnings and dividends. They are issued by large and well-established firms that have impeccable financial credentials.

牛市 Bull markets指股票市場各股價持續上升的情況
A stock market condition where share prices are rising

債券 Bond公開交易之債務證券,一般由大型企業及政府發行,在發售債券日起至到期日期間必須定期繳付票息,並於到期日退回票面值,以抵償債券持有人之本金。
Publicly traded long-term debt securities, issued by corporations and governments, whereby the issuer agrees to pay a fixed amount of interest over a specified period of time and to repay a fixed amount of principal at maturity.

賬面價值 Book value股東持股賬面值,相等於公司資產值減除公司負債及公司優先股值。這價值並不一定等於資產的市值
The amount of stockholders' equity in a firm equals the amount of the firm's assets minus the firm's liabilities and preferred stock. This amount does not necessarily be identical to the resale value of the asset in the open market.

經紀 Broker獲准為投資者提供買賣證券服務的個人或公司註冊商
Individuals or firms licensed by stock exchanges to execute investors’ decision to buy and sell securities

預算 Budget財務計劃中的可動用資本
The total amount of capital available for a particular financial plan

資本市場 Capital markets買賣各種股票及債券等投資工具的交易市場
Markets that trade various investment instruments such as bonds and stocks

資本增益 Capital gains出售資產所賺取的金額
The amount by which the proceeds from the sale of a capital asset exceed its original purchase price

現金透支 Cash advance從信用卡或信貸戶口裡以較高利率借取現金
A loan taken out from a line of credit or credit card on higher-than-normal interest charges

現金流量 Cash flow在某時段內資金流入和流出的差額
The balance between the money coming in and the money flowing out

存款證 Certificate of deposit一種有指定利息回報的存款,但本金須存入一段時間才可提取
A type of time deposits which offers a specific rate of interest on condition that the principal amount must be deposited for a fixed period of time

支票 Cheque一種匯票,主要用於將款項由一個戶口轉移到另一個户口
A bill of exchange, which is used to transfer funds from one bank account to another

中國概念股 China concepts stock一種股票,而該公司之資產及/或盈利均來自中國大陸之投資
The stock of a company whose assets and/or earnings derive from investments in China

抵押品 Collateral貸款者抵押給貸方的物業或其他資產,用以取得貸款
Property or asset used to secure a loan or other credit

商業票據 Commercial paper短期及無抵押借據,一般由具信譽企業所發行
A short-term loan that is not backed by collateral and issued by corporations with high credit standing

複利 Compound interest計算利息回報的一種方法,通常將本金及利息累積計算
Rate of interest calculated by taking into account the principal and the interest accumulated

緊急應變基金 Contingency fund用作應付緊急及意外支出的預備金
A fund to cover incidental or unforeseen expenses

公司債券 Corporate bond私人企業所發行之長期債務票據
Long term debt issued by private corporations

信貸 Credit借款交易。或解作個人或公司的貸款能力
A written arrangement of loan of money, or the borrowing capacity of a person or a company

債權人 Creditor借錢給別人的一方
Person or company to whom money is owed

保管人 Custodian代顧客保管證券的機構
Corporations that manage a customer’s securities and responsible for their safekeeping

債券工具 Debt instrument泛指債劵及商業票據等借貸合約
A written promise to repay eg a bond or commercial paper

拖欠 Default未能按時於限期前還款
Failure to repay the amount outstanding by the due date

通貨緊縮 Deflation整體物價持續下跌
A sustained decline in the general price level

貶值 Depreciation資產實際價值的累降
Progressive decline in real value of an asset over a period of time

衍生工具 Derivatives金融工具的一種,其價值須視乎其他資產之價值
Financial instrument whose value depends on the value of another asset

可動用收入 Disposable income除稅後可用作開支及/或儲蓄的收入
Income after tax which can be used for consumption and/or savings

多元化 Diversification選擇以不同種類之投資工具爲組合的一種投資策略,多元化投資可以減低個別項目對整個投資計劃的影響,從而降低投資風險
A strategy to include a variety of investment tools within a portfolio in order to reduce risk

股息 Dividends公司分發予股東的部分盈利
A share of a company’s profits that is distributed to its shareholders

盈利 Earnings於某時段間內的收益
Incomes over a specified period of time

新興市場 Emerging markets發展中國家的市場,其特點是預計發展速度快、潛在回報可觀,但投資風險亦大
Markets of developing countries that are expected to grow rapidly. Potential returns of investment are high but risk is also high.

股本 Equity股東擁有某上市公司權益的總值
The portion of a publicly listed company’s assets owned by its shareholders

匯率 Exchange rate貨幣之間互相兌換的相對價格
The price of a currency in terms of another currency

面值 Face value證券等金融工具的票面的價值
The value of a financial instrument (such as bond) as stated on the instrument

財務費用 Finance charge信用卡的一項收費。當應付款額未能在指定日期償清時才需繳付
A credit card charge that will apply when the cardholder fails to settle the whole statement balance by the due date

理財策劃 Financial planning理財策劃是一個完善的財務管理過程,如通過投資、稅務安排、資產分配、風險管理、退休及遺產等計劃來制訂及達到個人理財目標
Financial planning is the process of determining how an individual can meet goals through the proper management of his or her financial resources such as investments, tax planning, asset allocation, risk management, retirement planning and estate planning

固定收入 Fixed income穩定的收益
Regular and stable stream of money inflow

固定支出 Fixed spending穩定的開銷
Regular and stable money outflow

寬限期 Grace period借款人在到期還款日後才繳付供款而不會導致合約廢除的一段期限。常見於貸款及保險合約
The period within which late payment would not lead to the cancellation of the contract. Usually it can be found in loans and insurance contracts

總收益 Gross income除稅或其他開支前的總收入
The total income of a company or an individual before tax and expenditure

增長基金 Growth fund互惠基金的一種,主要投資於增長股
A mutual fund invested primarily in growth stocks

通貨膨脹 Inflation整體物價持續上升
A sustained rise in general price levels

首次公開招股 Initial public offering (IPO)一間公司首次向公眾人士發售股份
The selling of a company’s shares to the public for the first time

保險 Insurance一種避免潛在財政損失的一種風險管理
A form of risk management used to safeguard against the risk of potential financial loss

利率 Interest rate一筆款項的百分比,用以支付使用該筆款項時期的代價。或解作證券、貸款及存款之回報率
The percentage of a lump sum of money which is paid or charged for the use of the lump sum, usually for a specified time. Also, the rate of return for securities, loans and deposits

投資 Investment透過投入資金於某項目,藉以將本金增值及賺取更高回報
Accumulation of assets in the hope that they will bring future returns

逾期手續費 Late charge信用卡收費。如果最低付款額未能於指定到期付款日前繳付,便須繳付逾期手續費
A type of credit card charges. If the minimum payment due is not settled by the payment due date, a late charge of a certain percentage of the minimum payment will be charged

負債 Liabilities個人或公司應負之債務或財務責任,如銀行貸款,按揭借貸
Financial obligations of a person or a firm such as bank debts, mortgage loans, etc

人壽保險 Life insurance一種保障計劃,保險公司承諾於受保人逝世後將指定利益給予指定的受益人
A plan which the insurance company promises to pay a specified benefit to assigned beneficiary(ies) upon the death of the person who is insured

掛牌 Listing將公司股票推出股票交易所供公眾買賣的過程
The process by which a company applies to have its shares traded on the stock exchange market

借貸 Loan將金錢或物件借予他人,而借用人願意於特定日子償還本金及另付利息
The lending of money or property to a borrower who agrees to repay the principal along with an interest, at a predetermined future date

資本市值 Market capitalisation公司總市值,以股份數目乘以現行市價計算出來
A measure of the value of a company by multiplying the number of shares and the market price of each share at a particular point of time

市值 Market value以市場交易價作標準而計算出的資產價值
The value of an asset measured in terms of its trading price in the market

到期 Maturity借貸人必須償清債項的期限。亦可解作定期存款、債券或存款證的期限
The date the borrowed money is due. It can also be referred to the due date of a time deposit, a bond or a certificate of deposit

貨幣 Money用作交易買賣、價值儲存及記帳單位的工具
A token used as a medium of exchange, store of value and unit of account

貨幣市場 Money market買賣貨幣及其他短期證券的交易市場
Market in which transactions of short-term debts and monetary instruments take place

按揭 Mortgage以物業或其他資產作抵押的貸款,而借款人同意於特定日期前償清該債項
A loan secured by assets or properties which the borrower needs to repay the amount outstanding before an agreed date

互惠基金 Mutual fund匯集小投資者的資金而組成的一種基金,通常投資於不同證券及投資工具上
An investment tool which allows small investors to pool their funds and invest in a portfolio of bonds, shares and other securities

可轉讓 Negotiable指證券擁有權的高轉換性,或指價錢未被確定
Goods or securities whose ownerships are easily transferable, or whose prices are yet to be firmly determined

淨值 Net worth資產減去負債的總價值
The total value of assets minus liabilities

面值 Nominal value見面值 'face value'
See 'face value'

機會成本 Opportunity cost爲揀選某項目而放棄其他選擇的代價
The cost of foregoing other alternatives in order to pursue a certain option

期權 Option一種投資工具。期權持有人可於指定期內按特定價格購入或沽出特定數量的證券
A security that gives the holder the right to buy or sell a fixed number of shares at a particular price before a predetermined date

透支 Overdraft支票戶口內沒有足夠資金去承兌開出支票的金額
Insufficient funds in a cheque account to honour the full amount of a cheque payment

超出信貸限額手續費 Overlimit handling fee信用卡收費之一。如結欠金額超過信用限額,即需要繳付此項費用
A type of credit card charges. If the current balance exceeds the credit limit, the charge is payable

票面值 Par value證券的票面價值
The face value of a security

退休金 Pension由僱主、政府等機構設立的退休計劃,確保退休人士退休後仍可獲定期入息
A retirement plan usually set up by the employer or the government to ensure that a person has a secure source of income after retirement.

委托書 Power of attorney授權予第三者的法律文件
A legal document that empowers one person to act on behalf of another person

保費 Premium維持保險計劃效用的應付款項
The payment one makes to keep an insurance policy in force

現值 Present value以將來支出或收入折換成的現時價值
Assessment of the current value of future expenditure or benefit

本金 Principal指借貸的金額、投資的數值或債券的面額
The amount borrowed, the original amount invested or a bond’s face value

回報率 Rate of return計算投資收益或虧損相對本金之百分比率
The gain or loss of an investment, usually expressed as a percentage of the amount invested

實際價值 Real return撇除通脹影響的實際投資回報
The return of an investment excluding the effect of inflation

紅籌股 Red chip在香港註冊和上市,但是控股權屬中國的公司
A company incorporated and listed in Hong Kong whose controlling shareholders are Chinese entities

贖回價格 Redemption value買回如證券、物業等資產或未到期貸款的價錢
The buying back value of an asset (eg securities or property) or of a loan before maturity

轉按 Refinance借款人於利率下跌時,清還現有貸款,再以低息借取新貸款的做法
The practice of paying off an existing loan with the proceeds from a new loan borrowed at a lower interest rate at the time when interest rates drop

回報 Return投資所得的盈利或收入
An income or profit arising from an investment

循環信用 Revolving credit貸款協議的一種,借款人可於指定時間內向銀行貸取特定金額
A credit agreement that the bank allows the borrower to borrow up to a specified maximum amount during a specified period

附加契約 Rider附加於基本保單上的額外保障
An attachment or amendment to an insurance policy to expand or add benefits

風險 Risk指投資的實際回報可能有異於預期回報,而導致損失部分以至全部原投資金額
The chance that the actual return of an investment will be different than expected, including the possibility of losing some or all of the original investment

風險管理 Risk management認定、分析及減低投資可能帶來損失的一種投資策略
The process of identification, analysis and mitigation of possible financial loss in investment decision-making

有抵押貸款 Secured loan有資產或抵押品作保證的金錢或資源外借
The lending of money or capital which is secured by assets or collateral

結算 Settlement交易完成後清付所有金額
The actual payment of a deal after the transaction is completed

股東 Shareholder公司股票持有人
A person who owns share of a company

單息 Simple interest以本金的某個百份比作爲利息的一種利息計算方法
Interest calculated as a simple percentage of the original principle amount

投機 Speculation利用高風險投資於短時間內博取高回報的行為
The act of buying and selling a risky investment in anticipation of high return in a short period of time

支出 Spending開銷或花費
Expenditure or outlays

證券 Stock公司擁有權的單位
A unit of ownership in a corporation

退保 Surrender於保險合約屆滿前中止或取消此合約
To terminate or cancel an insurance policy before the maturity date

應課稅入息 Taxable income用以計算入息稅的可徵稅收入
The amount of net assessable income used in calculating income tax

還款期 Term提取借款日起至完全清還該借款日為止的期間
The period of time between the date when the loan starts and the date when the entire balance of the loan is due

定期存款 Time deposit只可以在預先通知或存款到期時才可提款的一種戶口
A saving account that can only be withdrawn with advance notice or after an agreed fixed period has expired

投資期 Time horizon預計資金投入至撤回之投資期
The duration that an investment is intended to last for

信託 Trust一種受委託的關係,將財產擁有權轉入一位受託人名下,受託人代為管理這些財產,以供某指定人士(受益人)使用
A fiduciary relationship in which one person, known as a trustee, holds title to property or assets for the benefit of another person, the beneficiary

信託契約 Trust deed信託成立的法律文件,清楚訂出信託的條款及執行方式
A formal document that creates a trust and outlines the rules and operations of a trust

信託基金 Trust fund由委託人交予受託人管理的資產,受託人需按信託意旨管理
An amount of capital which a person places in custody of a trustee to be administered for the benefit of the beneficiary

受託人 Trustee將資產按信託意旨管理的單位
A person or company who holds and manages the capitals of others for the benefit of another

單位信託 Unit trust匯集有共同投資目標的小投資者的資金來投資於一個特定的投資組合
A collective investment vehicle that pools the money of like-minded small investors and invest the total into a portfolio of securities with a specific objective

估值 Valuation由參考某資產、公司或證券的風險及回報而估計出的價值
The process of deriving the worth of an asset, a company or a security by taking its risk and returns into account

變動因素 Variable經常轉變的原素或成分
Element or factor which keeps changing over time

非固定收入 Variable income不穩定及非經常性收入
Money inflow on ad-hoc basis which is unstable and irregular

非固定支出 Variable spending不穩定及非經常性支出
Money outflow on an irregular and unstable basis

波動性 Volatility在某時段內證券於市場上的價格轉變幅度
The rate of change of the price in a market or a security within a particular period of time

豁免 Waiver自願放棄或豁免行使某些權益,索償或特權
Voluntary and intentional giving up of certain rights, claims or privileges

認股權證 Warrants由公司發行的衍生工具,持有者可於特定時間內以指定價錢購買證券
Warrants are derivative securities issued by a company which allows holders to purchase securities at a specific price within a certain time frame

收益 Yield投資的年回報率,以利益與成本的百分比來計算
The annual rate of return on an investment, usually expressed as a percentage