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股市指数应该代表市场还是经济？

恒生指数扩张以反映香港经济，海峡时报指数却收窄其焦点，这引发了关于国家指数功用的疑问

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    • 香港的目标是让其恒生指数（上图）代表经济，而海峡时报指数则更像是市场的基准。
    • 香港的目标是让其恒生指数（上图）代表经济，而海峡时报指数则更像是市场的基准。 图片来源：法新社

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    R Sivanithy

    Published Tue, Oct 7, 2025 · 07:00 AM

    本文由AI辅助翻译

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    使用指数来代表一个庞大的整体，是理解该整体运作方式的公认简化手段。

    例如，消费者价格指数将居民家庭通常购买的商品和服务（如水电、食品和交通）放入一个篮子中。当这个篮子的价值上下波动时，我们便称之为通货膨胀上升或下降。

    这部分相当直观。然而，在构建代表股票市场的指数时，情况就没那么简单了，其中最大的问题在于：指数应该代表市场，还是代表经济？

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