The Shanghai Stock Exchange History Research Project is an on-going research
effort by the International Center of Finance
to collect price and dividend information on stocks that were listed in the
Shanghai Stock Exchange (SSE) during the nineteenth and beginning of the twentieth centuries.
The market for securities trading in Shanghai begins in late 1860s. More
specifically, in June 1866, a list of thirteen companies, including the Hong Kong
& Shanghai Banking Corporation, appeared in a local newspaper under the
'Shares and Stocks' section. According to the English newspaper in Shanghai,
The North-China Herald this is the time that a 'regular system of dealing in Shares sprang up'.
The operation of Shanghai stock exchange comes to a halt on December 8, 1941 when the
Japanese took hold of the International Settlement. After the war ended, China assumed
full control over Shanghai, the legal privilege and means of enforcing financial contracts
for foreign businessmen had gone. The Shanghai Stock Exchange, as a foreign share brokers'
association, never reopened again.
We have collected annual price data for all the securities listed in the
Shanghai Stock Exchange from 1870 to 1940 .The source of the dataset is the
The North-China Herald, the English newspaper in Shanghai.
You can download the annual data by clicking here. We have
also constructed indexes for the SSE, which can be
downloaded here. Wenzhong Fan provided an outline of the construction of the indexes,
which can be
downloaded by clicking here.
The main purpose of this project is to construct complete series of data for SSE that
will allow us to study long-term trends and performance.
Christos Cabolis, Wenzhong Fan and William Goetzmann
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