Financy Glossary
The online dictionary of financial terms



Hang Seng Index

The Hang Seng Index (HSI) is based on the share price of 50 large companies listed on the Main Board of the Stock Exchange of Hong Kong. This index is considered the main indicator of overall market performance in Hong Kong. It is an arithmetically calculated freefloat-adjusted and market capitalization-weighted index.

The total aggregate market capitalization of the companies included in the Hang Seng Index accounts for roughly 60% of the total market capitalization of all eligible stocks on the Stock Exchange of Hong Kong.


Heavy Market

A heavy market for a security has significantly more sell orders than buy orders. This will often lead to stagnant or dwindling prices.



A hedge is an investment position intended to offset potential losses/gains that may be incurred by a companion investment.


High Current Income Fund

A high current income fund focuses on paying high dividends rather than achieving capital appreciation. The investment strategy for the fund will typically involve buying bonds with high interest payments and buying shares in companies known for making substantial dividend payments.


Historic Volatility

Historic volatility is a measure of changes over a specific period of time. For securities, historic volatility is the standard deviation of the continuously compounded returns on the security.


Holder Of Record

The owner of securities whose name is registered by the issuing company or its transfer agent as from a particular date.


Hostile Takeover Bid

When company A makes a bid to acquire Company B, and the directors of Company B is against the suggested takeover, it is considered a hostile takeover bid. The opposite is a friendly takeover bid, which is a takeover bid where the suggested takeover has the support of the target company’s directors.

It is not unusual for a hostile takeover bid situation to turn into a friendly takeover after negotiations.



House Call

When a brokerage house notifies a client that additional funds must be deposited into the client’s margin account.



A very high, and usually also accelerating, rate of inflation. Hyperinflation of a currency can rapidly erode the real-value of the currency.



When an asset is used to secure a debt. The asset becomes collateral.