#交易流动性

What is stock market liquidity? Stock market liquidity refers to the fact that the trading volume of certain stocks is large enough to be directly bought and sold by traders. Stocks that lack liquidity and do not have sufficient trading volume are difficult to buy or sell, simply because it is harder to find buyers and sellers for these types of stocks.

Liquidity can be measured using stock turnover, where the turnover is calculated as the total number of shares traded over a specific period divided by the average number of issued trading shares held during that period.

If a company's stock turnover is very high, then its stocks are considered liquid. For example, if a company holds 100 million issued shares in major indices such as the NASDAQ Composite Index, DAX30, or FTSE 100 on the first day of the fiscal year; and the stock holding increases to 150 million shares by the last day of the fiscal year, then the average number of issued shares held by the company during that fiscal year is 125 million shares. If the total amount of shares traded during that fiscal year is 90 million shares, then based on the aforementioned principle, we can calculate: 90 million shares / 125 million shares = 0.72, which is usually expressed as a percentage, meaning the turnover rate is 72%.