MARKET-READING WORKSHEET
Source: https://yenra.com/asian-markets/
Also relevant: https://yenra.com/european-markets/
https://yenra.com/ftse-share-prices/
Purpose: make observations comparable before explaining a market move.
Use official provider/exchange records and save the exact source and date.

Question being investigated:
Full index/security name, code and provider:
Constituent geography, eligible shares and weighting method:
Constituent file as-of date:
Return variant: price / gross total / net total:
Index currency; investor reporting currency; hedge if any:
Start value, local date, timestamp and time zone:
End value, local date, timestamp and time zone:
Trading calendar, holidays, intraday/delayed/closing status:
Source URLs and retrieval date:
Dividends, fees, tax and cash-flow treatment:

CALCULATIONS (decimal returns; multiply by 100 for percent)
Price change = end / start - 1. Requires a meaningful nonzero start value.
Currency quote = home-currency units per ONE local-currency unit.
Currency return = ending quote / starting quote - 1.
Unhedged home return = (1 + local return) x (1 + currency return) - 1.
These formulas do not adjust for interim cash flows or actual dealing costs.

FICTIONAL USD EXAMPLE
10000 USD / 0.01 USD per local unit = 1000000 local units.
8% local gain gives 1080000 local units.
Ending rate 0.0095 USD per local unit gives 10260 USD.
Return = 1.08 x 0.95 - 1 = 0.026, or 2.6%.
Excludes dividends, taxes, fees, spreads and hedging; rates are invented.

INTERPRETATION LOG
Original company/policy announcement and timestamp:
Verified fact:
Proposed explanation; supporting evidence:
Alternative explanations and missing data:
Next document to check:
Do not label a timing coincidence as proof of a single cause.