CAC40指數是什麼？最完整的CAC40法國指數投資指南

反映了在巴黎泛歐交易所(前身為巴黎交易所)上市的40檔規模最大、流動性最強的股票表現。

It reflects the 40 largest and most fluid stock performances listed on the Paris Pan-European Exchange (formerly the Paris Exchange).

CAC40指數創立於1987年，依據巴黎證交所交易量最高的100家法國公司，

The CAC 40 index, founded in 1987, is based on the top 100 French companies with the highest volume of transactions recorded in Paris.

從中選出上市的40支股票，所編制的市值加權平均指數，

From it, 40 shares are selected for listing, and the market value plus average index is compiled.

巴黎證券交易是法國最大的證券交易所，2000年併入Euronext旗下，現今稱為巴黎泛歐交易所(Euronext Paris)，

The Paris Stock Exchange, the largest stock exchange in France, was incorporated into Eurotext in 2000 and is now known as the Paris Pan-European Exchange.

目前在世界各大交易所中名列第四，僅次於紐約證券交易所、東京證券交易所、倫敦證券交易所。

It is now ranked fourth among the world's major exchanges, after the New York Stock Exchange, the Tokyo Stock Exchange and the London Stock Exchange.

CAC40指數於1987年12月31日推出，期初基準值為1000點。

The CAC 40 index was launched on 31 December 1987 with an opening base value of 1,000 points.

至撰文當下，CAC指數點數接近7200點(2022年1月)，總規模約 2.4兆歐元。

At the time of writing, the CAC index is close to 7200 points (January 2022), at a total level of 2.4 trillion euros.

有限制個股的權重最高上限為15%，以免指數權重過度集中。

There is a limit of 15% of the maximum weight of a share to avoid excessive concentration of weights.

目前僅有LVMH一檔股票市值較大、佔比較高，其他股票並沒有達到佔比15%上限。

LVMH is currently the only stock with a larger market value and a higher share, while other stocks have not reached the 15 per cent ceiling.

CAC40指數每季會有獨立的指導委員會，審查一次指數的成分股，

Each quarter of the CAC 40 exponentially has an independent steering committee that reviews the component shares of the index.

委員會根據前一年的自由流通市值、股票營業額，對在巴黎泛歐交易所上市的公司進行排名，從前100名中選出40家公司進入CAC40指數，如果同間公司有一個以上的股票類別在交易所交易，
只有其中交易量最大的公司才會被納入指數。

On the basis of the free market value of the previous year, the Commission ranked the companies listed on the Pan-European Exchange in Paris, selecting 40 companies from the top 100 to enter the CAC40 index, and if the same company had more than one stock group on the exchange,
would be counted only for those companies with the largest turnover.

截至2021年12月，CAC40指數成分股為底下的40間公司：

As of December 2021, the CAC 40 indicator shares were the following 40 companies:

CAC40的最大三檔成分股，分別是精品業的LVMH集團及愛馬仕，以及快銷品產業的萊雅集團，這些都屬於消費品產業，
前三大成分股大約佔了三分之一的總市值。

The three largest components of CAC40, divided between the elite LVMH group and Emassus group, and the fast-marketed Leia group, are part of the consumer industry, and the top three components account for about one third of the total market value.

從CAC40指數的股份類別、行業比重來看，

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以非必需品及服務業比重最高、其次是工業、金融業、健康醫療業、科技業；

The highest percentage of non-essential and service industries, followed by industry, finance, health care, and technology.

比重最低的是房地產、電信業、公用事業。

The lowest share is in real estate, telecommunications and public services.

市場先生提示：可以看出，法國CAC40指數和美國的結構組成差異巨大，
例如在美國，科技與資訊業、健康醫療會是最大的產業，而法國則是以非必須消費品為主，
就像是想投資台灣市場應該要理解半導體業，
想投資或交易法國指數，應該要對精品業的動態有些理解。

As you can see, the French CAC 40 index and the U.S. composition vary greatly,
for example, in the U.S., where the technology and information industry and the health care industry are the largest industries, while France is dominated by non-essential consumer products,
is like an attempt to invest in the Taiwan market to understand semi-guided industries, and
to invest in or trade in French indicators should have some understanding of the dynamics of the good industry.

可以觀察到，法國CAC40指數長期以來的報酬都贏過美國S&P500指數、英國富時100指數，落後德國DAX指數，近年來卻落後美國S&P500指數許多，但是已贏過德國DAX指數、英國富時100指數，4大指數相比之下，美國S&P500指數長期走勢則相對較好。

It can be observed that the French CAC40 Index has won , UK 100 when rich, and the German DAX Index, which has fallen behind

而這4大指數走勢幾乎可以代表各國家的經濟狀況，
從下圖中，就可看到2000年以來，美國市場經濟最好(主要是2010年後的表現較強)，其次是法國、德國 、英國。

And the four big steps represent almost every country's economic situation,
. From the following graph, the best US market economy (mainly strong after 2010), followed by France, Germany, and the United Kingdom.